Bitcoin

CleanSpark Launches Bitcoin Mining Update in May 2024

Published

8 months ago

4 June, 2024

CleanSpark Launches Bitcoin Mining Update in May 2024

Company mined 417 bitcoins; total bitcoin holdings now at 6,154

LAS VEGAS, June 4, 2024 /PRNewswire/ — CleanSpark Inc. CLSK), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending May 31, 2024.

“We exceeded industry expectations, as well as our peers, in our first full month of production after cutting the block reward in half,” said Zach Bradford, CEO. “Notably, our post-halving production has also surpassed what some of our peers achieved pre-halving. We continue our progress and are seeing significant gains and upgrades. For example, we reached a new high mark of nearly 18 exahashes per second, while further increasing our efficiency to 23.05 joules per terahash. As we continue to increase our hashrate, we are on a trajectory to quickly recover our production to pre-halving levels.

“In the meantime, as we maximize the performance of our existing fleet, we remain highly active in the M&A space. We expect to close the first facility in Wyoming in the coming days and continue to aggressively pursue additional opportunities that align with the CleanSpark way.” We will continue to provide transparency and updates as we have them. In fact, we recently had our first retail investor day, held at our immersion-cooled facility in Norcross, Georgia. crowded to come and meet with us.”

Bitcoin Mining May Update (Unaudited)

Bitcoin mined in May: 417
Bitcoin mined from the year 2024: 3,169
Total bitcoin holdings as of May 31: 6,154
Total bitcoins sold in May: 2.43
Deployed fleet: 134,464
Fleet efficiency at the end of the month: 23.05 J/Th
Current hash rate: 17.97 EH/s

The company sold 2.43 bitcoins in May 2024 at an average price of approximately $59,000 per bitcoin. Daily bitcoin mined in May averaged 13.45 and peaked at 15.0.

Operational Update
Dalton Expansion. Grading has been completed and building permits have been issued. Conduit installation for the primary cables has been completed and concrete forms are being installed. Once completed, the expansion will operate a fleet of S21s in a 15 MW facility with a hash rate of approximately 0.8 exahashes per second (EH/s). Upon completion of the expansion, CleanSpark’s Dalton campus, which consists of four independent data centers, is expected to operate at 2.4 EH/s.

About CleanSpark
CleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner™. We own and operate data centers that run primarily on low-carbon energy. Our infrastructure responsibly supports Bitcoin, the world’s most important digital product and an essential tool for financial independence and inclusion. We cultivate trust and transparency between our employees and the communities in which we operate. Visit our website at www.cleanspark.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding expectations, beliefs, plans and intentions of the Company. and strategies. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “aims,” ”projects.” “, “contemplates”, “believes”, “estimates”, “anticipates”, “predicts”, “potential” or “continues” or the negative of these terms or other similar expressions. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. analysis statements, including, but not limited to: the performance and timing of Dalton’s expansion; our mergers and acquisitions activities and closings; anticipated additions to CleanSpark hashrate and their timing; the risk that the electrical energy available at our facilities will not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; Bitcoin halving; new or additional government regulation; the expected delivery dates of new miners; the ability to successfully deploy new miners; reliance on utility rate structures and government incentive programs; dependence on third-party energy suppliers for expansion efforts; expectations of future revenue growth may not be realized; and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and any subsequent filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release and we undertake no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law. .

Investor Relations Contact
Brittany Moore
702-989-7693
[email protected]

Media contact
Eleni Stylianou
702-989-7694
[email protected]

SOURCE CleanSpark, Inc.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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Cryptocurrency Charts by TradingView.

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