LAS VEGAS, April 28, 2022 (GLOBE NEWSWIRE) — CleanSpark, Inc. (Nasdaq: CLSK) (the “Company” or “CleanSpark”), a sustainable bitcoin mining and power expertise firm, and Sustainable Bitcoin Standard (“SBS”), a company that incentivizes clear bitcoin mining, collectively introduced that CleanSpark is now a accomplice of SBS.
Both events share a typical mission to make bitcoin mining cleaner through clear and verifiable business requirements. SBS will present CleanSpark with verifiable proof for the bitcoins that the Company sustainably mines as a part of the partnership.
The stigma across the power consumption of cryptocurrency mining, and the absence of verifiable requirements for using renewable power in bitcoin mining, restrict the asset’s adoption by institutional buyers, who’re more and more required to satisfy ESG commitments. SBS solves this drawback by awarding bitcoin miners who use verified clear power by issuing Sustainable Bitcoin Certificates (SBC) for every bitcoin they mine sustainably. This method permits buyers so as to add “Proof of Sustainable Mining” to their bitcoin holdings. SBS’s different mining companions embrace Jihan Wu’s BitDeer and Luxxfolio (previously Westblock).
“CleanSpark has been focused on using clean energy since day one. In fact, this focus pre-dates our bitcoin mining operations,” mentioned Matt Schultz, CleanSpark’s government chairman. “We have partnered with SBS because we believe that it’s important for the industry to use verified clean energy aligned with existing renewable energy frameworks.”
“SBS was designed to allow ‘Proof of Sustainable Mining’ to be transferred between bitcoin miners who use renewable energy and investors without disrupting the fungibility of Bitcoin,” mentioned Bradford van Voorhees, co-founder of SBS. “We are proud to have a top sustainable bitcoin mining company, which is also one of the biggest publicly traded bitcoin miners, as a mining partner of SBS.”
In September, CleanSpark introduced it could work with Georgia Power to spend money on a $2 million energy growth, benefiting energy prospects and group members residing close to its bitcoin mining facility in Norcross. Last month, it introduced a rise within the beginning wage of all current entry-level positions in its mining operations to raised the lives of its crew members. And most lately, CleanSpark revealed that it was increasing its mining operations in Texas with as much as 500 megawatts of renewable power.
CleanSpark, Inc. (Nasdaq: CLSK), a Nevada company, is a sustainable bitcoin mining and power expertise firm that’s fixing trendy power challenges. For extra details about the Company, please go to the Company’s web site at https://www.cleanspark.com/investor-relations.
About Sustainable Bitcoin Standard
Sustainable Bitcoin Standard (SBS) is a world sustainability protocol designed to assist BTC grow to be our planet’s most sustainable asset class, whereas preserving fungibility and long run integrity of the community. SBS works carefully with main nonprofits and commonplace our bodies in renewable power and power audits, to situation Sustainable Bitcoin Certificates (SBCs) to miners who’re verified to make use of renewable and clear power. SBS’s buyers embrace BitDeer, Hawksburn Capital, New Layer Capital, BlackPine, Stacks Accelerator and distinguished angels in institutional finance. For extra details about SBS or to grow to be a SBS accomplice, go to www.sustainablebtc.org
Investor Relations Contact
Matt Schultz, Executive Chairman