CleanSpark, Inc. (NASDAQ: CLSK) is a sustainable bitcoin mining and energy technology company headquartered in Henderson, Nevada. Founded in 1987 by S. Matthew Schultz and Bryan Huber, CleanSpark has evolved to integrate advanced energy solutions with cryptocurrency mining operations. The company's mission is to drive the adoption of clean energy solutions by making them more accessible and efficient, emphasizing innovation, sustainability, and community impact.
Key Strategic Focus
CleanSpark's strategic focus centers on sustainable bitcoin mining and the development of energy solutions. The company operates data centers across the United States, including locations in Georgia, Mississippi, Tennessee, and Wyoming, with a total contracted power capacity of approximately 853 megawatts (MW). These facilities house around 188,500 bitcoin mining machines, achieving a hashrate capacity of approximately 27.6 exahashes per second (EH/s) and a fleetwide efficiency of 21.94 joules per terahash (J/TH).
In addition to mining operations, CleanSpark offers microgrid solutions and energy storage systems, integrating renewable energy sources to enhance grid resilience and efficiency. Their proprietary "mPulse" software enables real-time control over energy generation and storage devices, allowing users to optimize energy consumption and costs.
Financials and Funding
As of June 5, 2025, CleanSpark's stock price was $9.02, with a market capitalization of $2.53 billion. The company reported a revenue of $342.2 million in 2024, reflecting significant growth from previous years. The revenue breakdown for fiscal year 2024 includes $379 million from the bitcoin mining business.
Technological Platform and Innovation
CleanSpark's technological platform is distinguished by its integration of renewable energy sources into bitcoin mining operations and microgrid solutions. The company's proprietary "mPulse" software facilitates real-time energy management, optimizing the use of renewable energy and enhancing operational efficiency. This approach not only reduces the environmental impact of mining activities but also positions CleanSpark as a leader in sustainable energy solutions.
Leadership Team
- Zachary Bradford, Chief Executive Officer since October 2019, has been instrumental in steering CleanSpark's strategic direction and expansion.
- Gary Vecchiarelli, Chief Financial Officer since December 2021, oversees the company's financial management and reporting.
- Taylor Monnig, appointed Chief Technology Officer in May 2024, leads the company's technological innovation initiatives.
- Scott Garrison, appointed Chief Operating Officer in May 2024, manages the company's operational strategies.
- Leighton Koehler, General Counsel, provides legal oversight and guidance.
Competitor Profile
In the bitcoin mining and energy technology sectors, CleanSpark faces competition from companies such as Marathon Digital Holdings, Inc. and Riot Platforms, Inc. Marathon Digital Holdings operates one of the largest bitcoin mining operations with significant hash rate capacity, while Riot Platforms focuses on large-scale infrastructure and expanding mining capacity. CleanSpark differentiates itself through its emphasis on sustainable energy use and efficient operations.
Strategic Collaborations and Partnerships
CleanSpark has engaged in strategic acquisitions to bolster its market position and capabilities. Notably, the company acquired ATL Data Centers LLC, enhancing its bitcoin mining capacity. Additionally, CleanSpark joined Think Microgrid, a consortium supporting the microgrid sector in policy and regulatory discussions, reflecting its commitment to advancing sustainable energy solutions.
Operational Insights
CleanSpark's operations are characterized by the integration of renewable energy sources into its bitcoin mining and microgrid solutions. This approach not only reduces operational costs but also aligns with global sustainability goals. The company's proprietary technologies, such as the "mPulse" software, provide a competitive edge by enabling real-time energy management and optimization.
Strategic Opportunities and Future Directions
Looking ahead, CleanSpark aims to expand its bitcoin mining operations by increasing hash rate and mining capacity to capitalize on rising bitcoin prices. The company also seeks to leverage renewable energy sources further to reduce costs and improve sustainability. Strategic acquisitions remain a key component of CleanSpark's growth strategy, enabling the company to enhance its market presence and technological capabilities.
Contact Information
- Website: www.cleanspark.com
- Investor Relations: www.cleanspark.com/investor-relations
- Twitter: @CleanSpark_Inc
- LinkedIn: CleanSpark, Inc.
CleanSpark's commitment to integrating sustainable energy solutions with advanced technology positions it as a forward-thinking leader in both the bitcoin mining and energy technology industries.
