Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 82

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 82
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 into three definitive Membership Interest Purchase Agreements (each, a “MIPA”, and collectively, the “TN MIPAs”) with Exponential Digital, LLC (the “TN MIPA Seller”) to acquire seven bitcoin mining facilities located in Tennessee for a total purchase price of $25,000. Also on September 10, 2024, CSRE Properties Tennessee, LLC, a wholly-owned subsidiary of the Company, entered into a Real Estate Purchase and Sale Agreement (the “RE PSA”) with US Farms & Mining, Inc. to purchase real property that was leased by the TN MIPA Seller for purposes of conducting operations of four of the mining locations. Under the terms of the RE PSA, CSRE Properties Tennessee, LLC will pay US Farms & Mining, Inc. an aggregate consideration of $2,500. The total consideration set forth to be paid per the agreements is $27,500.The cities of the bitcoin mining facilities for each MIPA are as follows:MIPA 1: Jellico, TN and West Crossville, TN;MIPA 2: Campbell Junction, TN and Decatur, TN; andMIPA 3: Winfield, TN; Oneida, TN; and Tazewell, TN.The Company completed the acquisition of MIPA 1 and MIPA 3 on September 16, 2024, September 25, 2024 and October 11, 2024, respectively. The transaction was accounted for as an asset acquisition, whereby the total purchase price is allocated first to the fair value of the assets acquired and any excess purchase price is allocated to the acquired assets pro-rata. No goodwill is calculated in an asset acquisition.The combined purchase price is $29,854, which includes $27,500 in cash considerations payable to the TN MIPA Seller per the MIPAs and RE PSA, transfer of mining data center containers worth $1,750, $232 incurred for direct acquisition costs and $372 in assumed lease liabilities.The allocation of the purchase price of the assets acquired are summarized below:

         ($ in thousands)
          
         Allocation at Acquisition Date

         Land
          
         $
         6,187

         Land improvements

         648

         Building

         805

         Infrastructure

         22,153

         Right of use assets

         61

         Operating lease liability

         (372
         )

         Total
          
         $
         29,482

F-38

Mississippi acquisition - Clinton, MSOn