CLEANSPARK Updates Principal Executive Office Address

TL;DR

**CleanSpark just changed its mailing address, no big deal for the stock.**

AI Summary

CleanSpark, Inc. filed an 8-K on January 8, 2024, to update its principal executive offices address from 2370 Corporate Circle, Suite 160, Henderson, Nevada 89074 to 10624 S. Eastern Ave. Suite A-638, Henderson, Nevada 89052. This change is a minor administrative update and does not reflect any operational or financial shifts. For investors, this simply means the company's official mailing address has changed, which is unlikely to impact the stock's value or the company's business operations.

Why It Matters

This filing is a routine administrative update regarding CleanSpark's corporate address and has no direct impact on the company's financial performance or strategic direction.

Risk Assessment

Risk Level: low — The filing only reports a change in the company's principal executive office address, which is a minor administrative detail with no inherent financial risk.

Analyst Insight

A smart investor would recognize this as a non-material administrative update and would not adjust their investment thesis or trading strategy based solely on this information.

Key Players & Entities

• CLEANSPARK, INC. (company) — the registrant filing the 8-K
• 10624 S. Eastern Ave. Suite A-638, Henderson, Nevada 89052 (address) — new principal executive offices address
• 2370 Corporate Circle, Suite 160, Henderson, Nevada 89074 (address) — former principal executive offices address
• January 08, 2024 (date) — date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share CLSK The Nasdaq Stock Mar
• $193 million — ,000 miners for a net purchase price of $193 million (after application of coupons) for a ne
• $16.10 — plication of coupons) for a net cost of $16.10 per terahash. The agreement also incl
• $320 m — to an additional 100,000 S21 miners for $320 million, or $16.00 per terahash. The agre
• $16.00 — 100,000 S21 miners for $320 million, or $16.00 per terahash. The agreement requires th
• $32 million — e agreement requires the Company to pay $32 million for the option, which expires on Decemb

Filing Documents

• clsk-20240108.htm (8-K) — 48KB
• clsk-ex10_1.htm (EX-10.1) — 272KB
• clsk-ex99_1.htm (EX-99.1) — 16KB
• img82991619_0.jpg (GRAPHIC) — 5KB
• img82991619_1.jpg (GRAPHIC) — 5KB
• img82991619_2.jpg (GRAPHIC) — 2KB
• 0000950170-24-002739.txt ( ) — 537KB
• clsk-20240108.xsd (EX-101.SCH) — 42KB
• clsk-20240108_htm.xml (XML) — 6KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 6, 2024, CleanSpark, Inc., a Nevada corporation (the Company), entered into an agreement with Bitmain Technologies Delaware Limited (the Agreement) to purchase up to 160,000 Bitmain S21 miners, which is equal to 32 exahashes per second (EH/s). The delivery of the mining machines is expected to begin in April 2024. The agreement allows for the purchase of 60,000 miners for a net purchase price of $193 million (after application of coupons) for a net cost of $16.10 per terahash. The agreement also includes an option for the Company to purchase up to an additional 100,000 S21 miners for $320 million, or $16.00 per terahash. The agreement requires the Company to pay $32 million for the option, which expires on December 31, 2024, and is exercisable at the Company's discretion. The Company plans to use the mining machines to expand its digital currency mining activities through its wholly-owned subsidiaries. The foregoing description of the Agreement does not purport to be complete, and is qualified in its entirety by reference to the complete text of such Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K (this Current Report).

01 Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets. The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On January 8, 2024, the Company issued a press release announcing the purchase. A copy of this press release is attached hereto as Exhibit 99.1 and is being furnished with this Current Report. The information set forth under Item 7.01 of this Current Report, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section. The information in Item 7.01 of this Current Report, including Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as expressly set forth by specific reference in such a filing. This Current Report will not be deemed an admission as to the materiality of any information in this Current Report that is disclosed solely pursuant to this Item 7.01.

Forward Looking Statements

Forward Looking Statements This Current Report, including Exhibit 99.1 attached hereto, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this Current Report, including Exhibit 99.1, forward-looking statements include statements regarding the Company’s agreement to purchase new Bitmain S21 miners, including the call option thereunder and expectations for the delivery of the miners, statements regarding a potential future bull market and the impact on pricing of miners and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as may, will, should, expects, plans, anticipates, could, intends, targets, projects, contemplates, believes, estimates, forecasts, predicts, potential or continue or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the timing, performance, and costs of purchasing and deploying the S21 miners; the Company realizing the hash rate and efficiency discussed in this Current Report and Exhibit 99.1; the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Future Sales and Purchase Agreement entered into by and between the CleanSpark, Inc. and Bitmain Technologies Delaware Limited on January 6, 2024 99.1 Press Release, dated as of January 8, 2024 (furnished herewith) 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CLEANSPARK, INC. Date: January 8, 2024 By: /s/ Gary Vecchiarelli Name: Gary Vecchiarelli Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR