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CleanSpark's November 2024 Bitcoin Mining Update

CleanSpark Inc., recognized as America’s Bitcoin Miner®, has recently published its unaudited bitcoin mining and operational statistics for November 2024. This period marked a significant achievement for the company as it managed to mine 622 bitcoins, culminating in a remarkable daily production peak of over 21 bitcoins.

The month brought impressive month-over-month improvements, recording a 7% increase in hashrate and a 6% enhancement in efficiency. Zach Bradford, CEO of CleanSpark, highlighted the company's focus and dedication, stating, "Our teams have been relentlessly executing and making strides towards our aim of reaching 37 EH/s by year-end, alongside significant operational efficiency gains."

Key Highlights from November 2024:

• - Bitcoin Mined: 622
• - Total Bitcoin for 2024: 6,356
• - Bitcoin Holdings as of November 30: 9,297
• - Bitcoin Sold in November: 26.11
• - Deployed Fleet: 195,059 mining units
• - Fleet Efficiency: 19.05 J/Th
• - Operating Hashrate at Month-End: 33.7 EH/s

CleanSpark also reported that throughout November, the company maintained an average hashrate of 32.32 EH/s and an average fleet efficiency of 19.59 J/Th, leading to an average daily mining output of 20.72 bitcoins. The company's records denote a single-day high of 21.65 bitcoins mined, showcasing a strong operational capacity.

In November, CleanSpark executed a strategic sale of 26.11 bitcoins at an approximate average price of $84,356 per bitcoin, demonstrating its robust market presence.

Future Expansion and Projects

In response to these productive results, CleanSpark’s undertakings near Clinton, Mississippi, have come to fruition. The delivery of two turnkey bitcoin mining sites was completed, which are now fully operational as of December 2, 2024. These new facilities are expected to contribute 1 EH/s to CleanSpark’s overall hashrate upon completion of the installation process within the week.

Additionally, ongoing projects in Tennessee are set to go live by mid-December, further supplementing the company's efforts to exceed the year-end hashrate target of 37 EH/s. CleanSpark has set ambitious plans to break through the 50 EH/s threshold in the upcoming quarters, signaling a strong outlook for growth and expansion.

On another front, CleanSpark is developing two immersion-cooled bitcoin mining data centers in Cheyenne, Wyoming, which are anticipated to house cutting-edge S21 immersion XPs. The estimated contribution from these sites could yield an additional 5 EH/s once operational, adding a significant boost to the company’s capabilities.

About CleanSpark

CleanSpark (Nasdaq: CLSK), often termed America's Bitcoin Miner®, focuses on leveraging globally competitive energy prices and operational efficiency in its bitcoin mining ventures. With a commitment to optimizing mining facilities, CleanSpark aims to generate superior returns for its shareholders by securing the essential finite asset – bitcoin. As it charts its path forward, the company emphasizes its vision to ensure sustained profitability in the rapidly evolving environment of cryptocurrency.

For additional information, you can visit CleanSpark’s official website.

The outlook shared is based on forward-looking statements that reflect the company's expectations and intentions regarding future growth and operational plans. Investors and stakeholders should be aware of known and unknown risks that might impact these projections as detailed in CleanSpark's filings with the SEC.