Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 77

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 77
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 activities of GRIID, including the GRIID Credit Agreement and balances of receivables and payables under the Hosting Agreement, which effectively settled and is considered as additional purchase consideration is eliminated on the Consolidated Balance Sheets. On October 30, 2024, the Company completed the GRIID Acquisition for a total purchase consideration of $128,247, which is comprised of the following:

         ($ in thousands, except price per share)
          
         GRIID

         Shares of CleanSpark common stock issued

         5,031,221

         Closing price per share of CleanSpark common stock on October 30, 2024
          
         $
         12.06

         Fair value of CleanSpark common share issued as a portion of purchase price
          
         $
         60,677

         Fair value of CleanSpark warrants issued as a portion of purchase price

         6,097

         Fair value of equity portion of purchase price

         66,774

         Cash consideration

         1

         Settlement of amounts payable by Company to GRIID under Hosting Agreement

         (1,164
         )

         Settlement of the GRIID Credit Agreement as a portion of purchase price

         62,636

         Settlement of preexisting relationship, including interest, as a portion of purchase price

         61,472

         Purchase price
          
         $
         128,247

       The amounts in the table below represent the allocation of the purchase price to the acquired assets and liabilities assumed based on their respective estimated fair values on the date of acquisition.The excess purchase price over the net assets acquired has been recorded as goodwill. The net assets acquired as of the acquisition date are presented as follows:

         ($ in thousands)
          
         Adjusted Balance

         Tangible assets

         Cash and cash equivalents
          
         $
         1,089

         Restricted cash

         323

         Accounts receivable

         172

         Prepaid expense and other current assets

         193

         Property and equipment

         18,839

         Other long-term assets

         9,601

         Operating lease right of use assets

         1,100

         Total tangible assets acquired

         31,317

         Intangible assets

         Goodwill

         123,615

         Total assets acquired

         154,932

         Liabilities assumed

         Accounts payable

         3,479