CleanSpark Receives Cryptocurrency Mining Power Engineering Design Contract

SALT LAKE CITY, Jan. 11, 2018 /PRNewswire/ -- CleanSpark, Inc. CLSK, a microgrid company with advanced engineering, software and controls for innovative distributed energy resource management systems, today announced that it has been officially contracted to design a turn-key, fully engineered 'off-grid' solution for a cryptocurrency mining operator.

The contracted project will serve to provide specifications, optimization, and permit ready design for a modular DC-Centric microgrid.  Power is anticipated to be generated by, stored within, and fed to an optimized DC driven load bus.  The CleanSpark design will be optimized to feed both DC and AC loads and ensure maximum efficiency from solar generation technology paired with energy storage.  By utilizing a DC-Centric design, the efficiency and temperature control of the system can easily be maximized.  Energy is the single largest operational expense for cryptocurrency mining operations. Through increasing efficiency and leveraging on-site power generation with energy storage, energy expenses can be dramatically reduced.

The containerized solution, along with CleanSpark's mPulse controller will allow a wide-variety of applications, from Bitcoin and Cryptocurrency mining, to a fully 'off-grid' agricultural grow facility power source, to a power demand management solution as the end use-case drivers suggest. It is also designed for quick deployment, and removal, as required.  Finally, the configuration and automation of the system allow for virtually unmanned operation.

CleanSpark's Senior Electrical Engineer, Jeff Trueblood stated, "When the 'grid-in-a-box' design concept was suggested for remote military applications, we anticipated the commercial, industrial, and residential opportunities for a containerized solution would be substantial.  With the well-publicized energy demands of Cryptocurrency mining operations, our product seemed to be an intuitive solution.  A prior CleanSpark engineering service customer recognized the same and retained us to engineer a version of our 'best-in-class' solution for just that purpose."

About CleanSpark, Inc.

CleanSpark provides advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. Our services consist of intelligent solar monitoring solutions, microgrid design and engineering, project development consulting services, system installation and consulting, and turn-key microgrid implementation services. We also combine our microgrid services with a revolutionary and patented stratified downdraft gasifier.  By integrating new and existing energy generation and storage assets with advanced load management capacities, CleanSpark's software allows energy generated locally to be shared with other interconnected microgrids. This unique capability enables microgrids to be scaled and widely adopted for commercial, industrial, military, municipal, and remote community deployment.

For more information on CleanSpark, please visit http://www.cleanspark.com.

Information about Forward-Looking Statements

Statements in this press release relating to plans, strategies, testing and operational performance, projections of results of specific activities and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission (the "SEC").  For a more detailed description of the risk factors and uncertainties affecting the Company, please refer to the Company's recent SEC filings, which are available at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Website: http://www.cleanspark.com  

Contact - Company:
S. Matthew Schultz, CEO
801-244-4405
matt@cleanspark.com

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SOURCE CleanSpark, Inc.