CleanSpark (CLSK) Issues November 2024 Bitcoin Mining Update

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today released its unaudited bitcoin mining and operations update for the month ending November 30, 2024.

"Our teams have been relentlessly executing, making progress towards our year-end hashrate goal of 37 EH/s while improving our efficiency," said CleanSpark CEO Zach Bradford. "Two turnkey bitcoin mining sites near Clinton, MS, have been completed and are expected to be fully operational providing an added 1 EH/s by the end of this week. We then expect expansion projects in Tennessee to go live by mid-month, that paired with our ongoing upgrades will bring us over our year-end target of 37 EH/s. We have our eyes on 2025, and our plan is to continue growing beyond 50 EH/s in the coming quarters."

November Bitcoin Mining Update (unaudited)

• Bitcoin mined in November: 622
• CY2024 bitcoin mined: 6,356
• Total bitcoin holdings as of November 30: 9,297¹
• Total bitcoin sold in November: 26.11
• Deployed fleet: 195,059
• Month end fleet efficiency: 19.05 J/Th
• Month-end operating hashrate: 33.7 EH/s

Throughout November 2024, the Company's average hashrate was 32.32 EH/s and average fleet efficiency was 19.59 J/Th, resulting in an average of 20.72 bitcoin mined daily. The single day high reached 21.65 bitcoin. The Company sold 26.11 bitcoin during November 2024 at an average price of approximately $84,356 per bitcoin.

¹ As of November 30, 2024, CleanSpark's bitcoin holdings were 9,297 in total (803 bitcoin of this amount was posted as collateral).

Additional Updates
Clinton, Mississippi. Two bitcoin mining sites near Clinton were delivered to CleanSpark turnkey ready and are energized as of December 2, 2024. Once completed installation this week, the sites will house S21 pro miners with an expected combined operating hashrate of approximately 1 EH/s.

Cheyenne, Wyoming: The construction of two immersion-cooled bitcoin mining data centers totaling 75 MW is underway. The connection of high-line voltage from the substation is complete for both sites. Immersion cooling equipment is being delivered and will continue this month. Each site will house the latest generation S21 immersion XPs, adding an estimated 5 EH/s in total to CleanSpark's hashrate once installed and energized.

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