CleanSpark (CLSK) Issues December 2023 Bitcoin Mining Update

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today released its unaudited Bitcoin (or "BTC") mining and operations update for the month ending December 31, 2023.

"This was a transformative year for CleanSpark," said Zach Bradford, CEO. "We set new records in bitcoin mining, surpassing all our previous achievements with over 7,300 bitcoins mined this year, a 60% increase over 2022. This remarkable feat was coupled with our highest daily production rates ever. What's more, our bitcoin treasury has also seen remarkable growth, expanding from 228 bitcoins at the end of last year to over 3,000 bitcoins today.

"I am also immensely proud to share that all the building structures for our Sandersville expansion are now complete, paving the way for energizing the facility next month. My heartfelt thanks go to our teams, the trades, and the community for their dedication to meeting timelines and fulfilling our promises to shareholders. The new year offers tremendous potential, and we are enthusiastic about the opportunities that await us."

December Bitcoin Mining Update (unaudited)

• Bitcoin mined in December: 720
• CY2023 bitcoin mined: 7,391
• Total BTC holdings as of December 31: 3,002
• Total BTC sold in December: 293
• Deployed fleet: 88,924
• Month-end fleet efficiency: 26.4 J/Th
• Current hashrate: 10.08 EH/s

The Company sold 293 BTC in December 2023 at an average of approximately $42,700 per BTC. Sales of BTC equated to proceeds of approximately $12.5 million. December daily BTC mined averaged 23.2 and reached a high of 29.8.

Operational update

Sandersville. Construction has been completed on all ten building structures for the 150MW expansion. All Antminer XPs have been received and are in the Company's custody in Georgia. In anticipation of the expansion, the company has also begun testing firmware upgrades on the newest Antminer S21s. All machines necessary for the 150MW expansion have been delivered and are expected to be installed over the coming weeks as the Company prepares for energization in February.

For updates on our progress in Sandersville, check out the Company's official YouTube account here.

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