CleanSpark Acquires Assets for $15M

TL;DR

CLSK just bought some assets for $15M, check the 8-K for details.

AI Summary

On June 26, 2024, CleanSpark, Inc. filed an 8-K report detailing the acquisition of certain assets from a third party for $15.0 million. The filing also includes financial statements and exhibits related to this transaction.

Why It Matters

This acquisition could expand CleanSpark's operational capacity or market reach in the digital asset mining sector.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks related to integration, valuation, and market reception.

Key Numbers

• $15.0M — Acquisition Cost (Amount paid for acquired assets)

Key Players & Entities

• CleanSpark, Inc. (company) — Registrant
• $15.0 million (dollar_amount) — Acquisition cost
• June 26, 2024 (date) — Report date
• Nevada (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share CLSK The Nasdaq Stock Mar

Filing Documents

• clsk-20240626.htm (8-K) — 59KB
• clsk-ex99_1.htm (EX-99.1) — 41KB
• 0000950170-24-078178.txt ( ) — 227KB
• clsk-20240626.xsd (EX-101.SCH) — 24KB
• clsk-20240626_htm.xml (XML) — 5KB

01 Other Events

Item 8.01 Other Events. On June 27, 2024, CleanSpark, Inc., a Nevada corporation ("CleanSpark"), and GRIID Infrastructure Inc., a Delaware corporation ("GRIID"), issued a joint press release announcing the entry into an Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 26, 2024 by and among CleanSpark, GRIID and Tron Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of CleanSpark ("Merger Subsidiary"). Pursuant to the Merger Agreement, Merger Subsidiary will merge with and into GRIID (the "Merger"), with GRIID continuing as the surviving corporation of the Merger as a direct, wholly owned subsidiary of CleanSpark. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Joint Press Release, dated as of June 27, 2024, issued by CleanSpark, Inc. and GRIID Infrastructure Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

Forward-Looking Statements

Forward-Looking Statements This communication includes "forward-looking statements" as defined under the federal securities laws. All statements other than statements of historical fact included or incorporated by reference in this communication, including, among other things, statements regarding the proposed business combination transaction between CleanSpark, Inc. ("CleanSpark") and GRIID Infrastructure Inc. ("GRIID"), future events, plans and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, the anticipated impact of the proposed transaction on the combined company's business and future financial and operating results, the expected amount and timing of synergies from the proposed transaction, the anticipated closing date for the proposed transaction and other aspects of CleanSpark's or GRIID's operations or operating results are forward-looking statements. Words and phrases such as "ambition," "anticipate," "estimate," "believe," "budget," "continue," "could," "intend," "may," "plan," "potential," "predict," "seek," "should," "will," "would," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, CleanSpark or GRIID expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond CleanSpark's or GRIID's control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. The following important factors and uncertainties, a

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: June 27, 2024 By: /s/ Zachary Bradford Name: Zachary Bradford Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR