CleanSpark Inc (NASDAQ:CLSK) has announced the one-year anniversary of its Bitcoin mining operations, noting incremental growth in the number mined since the operations were launched.
The sustainable Bitcoin mining and energy technology company said it implements an ESG approach by sourcing regional energy mixes with strong renewable energy portfolios for its mining facilities in Norcross and College Park, Georgia.
CleanSpark entered the Bitcoin mining industry in December 2020 with its purchase of ATL Data Centers. A second data center, located in Gwinnett County, was acquired in August 2021 with plans to invest $145 million in capital and human investments over the next five years.
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The company said it draws on its clean energy background to take an efficient approach to Bitcoin’s high energy usage, adding that it is now a leading sustainable miner and paving the way for clean mining best practices in the worldwide call-to-action.
"As a company, CleanSpark has consistently been committed to increasing clean, reliable, distributed energy into the world's electrical grids,” vice president of technology, Rich Inman, said in a statement.
“Coupling our expanding cryptocurrency mining operations with additional clean energy resources both onsite and in the surrounding communities is integral to our core values as stewards for the environment.
“With increasing energy crises, it is more important now than ever to maximize efficiency and minimize the carbon footprint of our operations.”
CleanSpark said its ESG strategy also helps the communities it operates in. Aside from using renewable energy mixes for its mining operations, it said it facilitates more reliant transmission lines with infrastructure-level upgrades and investment in state solar power programs, such as Georgia’s Simple Solar.
This approach is making a positive impact on the local economy by developing abandoned areas and creating new job opportunities, it said.
“Our goal is to drive the adoption of clean and energy-efficient Bitcoin mining while delivering value to our shareholders and communities we operate in,” CEO Zach Bradford said.
“Finding ways to be good partners in surrounding neighborhoods is part of that vision.”
From mining 31 Bitcoin in December 2020, CleanSpark mined 218 in November 2021, taking its total for the 12-month period to 1,326.
Nevada-based CleanSpark is a sustainable Bitcoin mining and energy technology company that is focused on solving modern energy challenges.
Contact the author at stephen.gunnion@proactiveinvestors.com