Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 50

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 50
---
,140

     $
     67,572

     $
     27,369

     Shares withheld for net settlement of restricted stock units related to tax withholdings
      
     $
     2,415

     $
     22,555

     $
     5,873

     Fixed assets purchased through finance transactions
      
     $
     1,535

     $
     7,190

     $
     493

     Miners and derivatives purchased with bitcoin
      
     $
     80,880

     $
     —

     $
     —

     Software purchased with bitcoin
      
     $
     7,000

     $
     541

     $
     229

     Preferred shares dividends accrued
      
     $
     396

     $
     —

     $
     —

     Unrealized gain on investment in available-for-sale debt security
      
     $
     —

     $
     —

     $
     116

     Shares issued in connection with GRIID Acquisition
      
     $
     60,677

     $
     —

     $
     —

     The accompanying notes are an integral part of these Consolidated Financial Statements.

F-16

CLEANSPARK, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS($ in thousands, except per share and bitcoin amounts)1. ORGANIZATION AND LINE OF BUSINESSOrganizationCleanSpark, Inc. (the “Company”) is a data center developer focused on bitcoin mining. The Company independently owns, leases, and operates fifteen data centers in Georgia, eleven data centers in Tennessee, five data centers in Mississippi, and two data centers in Wyoming as of September 30, 2025.The Company does not currently host miners for any other companies. The Company designs its infrastructure to responsibly secure and support the bitcoin network, the world’s most recognized digital commodity.Lines of BusinessBitcoin Mining BusinessThrough CleanSpark, Inc., and its wholly owned subsidiaries, the Company engages in bitcoin mining operations. The Company entered the bitcoin mining industry through its acquisition of ATL Data Centers LLC (“ATL”) in December 2020. It acquired a second data center in August 2021. Bitcoin mining has since become the Company’s principal revenue generating business activity. Following the expiration of the Company’s co-location hosting arrangement in January 2025, all mining operations are conducted at facilities that the Company owns or leases and operates across Georgia, Tennessee, Mississippi, and Wyoming. The Company continues to expand its operational footprint through the acquisition