Company: CLSKW
Filing Date: 2025-01-22
Form Type: DEF 14A
Source: 0000950170-25-007763
Chunk: 35

Company: CLEANSPARK, INC.
Filing Date: 2025-01-22
Form: DEF 14A
Chunk 35
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.046 from $0.048.

We increased the quantity of bitcoin mined from our bitcoin mining operations from 6,903 bitcoin mined in fiscal year 2023 to 7,092 bitcoin mined in fiscal year 2024, representing an increase of approximately 3%.

We entered into strategic purchase agreements to secure the long-term supply of approximately 185,000 state-of-the-art new miners supporting the calendar year-end guidance of 37 EH/s, which we exceeded in late December 2024.

Revenue from our bitcoin mining activities increased from $168.1 million in fiscal year 2023 to $379.0 million in fiscal year 2024.

By successfully scaling our power strategy, our direct energy cost to mine one bitcoin was $21,401 and the direct cost to mine one bitcoin including direct energy costs, non-cash depreciation, financing costs, and accelerated depreciation in our owned facilities in fiscal year 2024 was $39,936 per bitcoin.

We held 6,819 bitcoin as of September 30, 2024. Please see the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2024 Annual Report for a more detailed description of our 2024 financial results.

INFORMATION ABOUT OUR NAMED EXECUTIVE OFFICERS

The following table sets forth the names, ages, and positions of our NEOs as of January 22, 2025. See Proposal 1 for additional information regarding our directors. There are no arrangements or understandings between any of our directors, nominees for directors, or officers and any other person pursuant to which any director, nominee for director, or officer was or is to be selected as a director, nominee, or officer, as applicable. There currently are no legal proceedings required to be disclosed under Item 401(f) of Regulation S-K with respect to our executive officers and directors, and during the past ten years there have been no legal proceedings that are material to the evaluation of the ability or integrity of any of our directors or director nominees.

| NAME                 |     | AGE |     | POSITION(S)                                      |
| Zachary K. Bradford  |     |  38 |     | Chief Executive Officer, President, and Director |
| Gary A. Vecchiarelli |     |  47 |     | Chief Financial Officer                          |
| S. Matthew Schultz   |     |  55 |     | Executive Chairman of the Board                  |
| Scott E. Garrison(1) |     |