CleanSpark Inc (NASDAQ:CLSK) announced Tuesday the addition of Rachel Silverstein and Owen Cadwalader as vice presidents on its management team.
Silverstein, who was named VP of compliance and general counsel, is a former corporate counsel at Zappos, an online clothing retailer owned by Amazon.com Inc (NASDAQ:AMZN). At CleanSpark, she will be assisting in compliance, mergers and acquisitions, as well as all general legal matters.
"We are very excited to have Mrs Silverstein join the management team as it will provide increased efficiencies in all areas of our operations and compliance,” CEO Zach Bradford said in a statement. “We expect that by adding such experienced inside general counsel we can streamline many processes and procedures, ultimately creating greater value for all stakeholders."
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Cadwalader, Cleanspark’s new VP of operations, was most recently an executive with Molekule, a clean-air technology company. Before that, he served as VP of OptiRTC, a cloud software company he cofounded for smart water management. Cadwalader will oversee product delivery, customer experience and help align multiple virtual office teams to further streamline operations.
"Mr Cadwalader's experience should begin to pay dividends to CleanSpark almost immediately,” Bradford said. “Previously, as VP/cofounder of OptiRTC, Owen developed an expertise in monitoring and adaptive control of stormwater systems which makes him a great fit for CleanSpark's energy control technology. Essentially, critical water flow is managed through opening and closing water distribution valves and systems, similarly electrical energy is controlled by opening and closing critical circuit breakers."
The new additions are part of a larger growth plan after the company’s recent $40 million institutional investment. CleanSpark intends to focus on growth through accretive opportunities and expansion of product offerings. In the future, the company expects to add to its professional engineering teams, in addition to sales and business development personnel.
“We expect these additions to represent the beginning of a new phase for the company that will feature personnel expansion, product enhancements, and strategic acquisitions,” Chairman Matthew Schultz said. "We recently announced the development of the GridFabric SaaS (Software-as-a-Service) option, and plan to soon provide an EaaS (Energy-as-a-Service) offering as well. These initiatives will be supported by additional staff on the CleanSpark product and sales teams and through CleanSpark's wholly owned subsidiaries."
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