To The Moon

August Bitcoin Mining Update: 

🍀Bitcoin mined in August: 478 (down slightly from previous mth, no biggie) 

🍀CY2024 bitcoin mined: 4,586 

🍀Total bitcoin holdings as of August 31: 7,558 

🍀Total bitcoin sold in August: 2.50 BTC @ $56,729 🍀Deployed fleet: 163,648 

🍀Fleet efficiency: 22.70 J/Th 

🍀Month-end operating hashrate: 22.6EH/s 

🍀The average hashrate throughout the month of August was 21.3 EH/s resulting in an average of 15.43 bitcoin mined daily and a single day high of 17.88. CLSK mine an avg of 15 BTC daily, what is selling 2.5 BTC to fund operations?

🙌 Growth Update 🙌 

🚀 Dalton Expansion: 15 MW of additional data center capacity is expected to be energized and fully hashing by next week. 

🚀 Sandersville Expansion: 50 MW of additional data center capacity is expected to be energized and fully hashing by mid-month. 

🚀 Wyoming: The initial 30 MW immersion-cooled facility is progressing as planned. The Company is also overseeing the preparation of the second site and expects to complete the closing of the land purchase upon completion of remaining closing conditions. Power agreements for the sites totaling 75 MW of power were executed in July. 

🚀Tennessee: The Company is currently utilizing approximately 50 MW of infrastructure under a hosting agreement, which will be owned upon completion of the acquisition of GRIID Infrastructure Inc. 80 MW of additional data center capacity is also under construction by GRIID, which will also be owned upon completion of the sites and the closing of the acquisition.

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For those wondering what's the recent fear circulating around CLSK, here's what Matthew Schultz (Executive Chairman and Director) have to say: 

"Several years ago, CLSK increased its AUTHORIZED shares from 100M to 300M. Since then, CLSK has grown from a ~$200M company to a multibillion dollar company and we're STILL NOT EVEN at that 300M share level."  (UNLIKE MARA and RIOT)

"After extensive consultation with advisors, attorneys and the board, the company determined that a simple increase in the authorized shares was in the best interest of the shareholders and the Proxy was approved by unanimous consent. The company filed for that proxy last Friday. This process, if approved is simply the change of the authorized shares in the articles of incorporation with the State of Nevada. Any underlying issuance STILL has to be approved. Most of our peers have gone through similar procedures."

"CHANGING THE AUTHORIZED SHARES DOES NOT DILUTE ANYONE. It simply gives the company the flexibility to take advantage of the opportunities that exist in our industry where weaker players, sometimes burdened by debt and inefficiency, simply cannot survive. We'll be positioned to make the best of those situations for our shareholders. By increasing the authorized, the company has a much shorter path to be enabled to take advantage of opportunities for growth, consolidation, acquisition, etc. This process requires preparation and mailing of a proxy for voting to all of our shareholders. It takes weeks/months. We have always been extremely efficient with capital and there isn't anything about that that's going to change."

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🤦‍♀️ CLSK is way oversold IMHO 🤦‍♀️