CleanSpark (CLSK) Announces Additional Residential Microgrid Contract

CleanSpark, Inc. (Nasdaq: CLSK), (“CleanSpark, or the Company”), an advanced software and controls technology solutions company focused on solving modern energy challenges, announced an additional contract related to their residential initiative. The project is for an existing Santa Barbara, CA home that has a history of power disruptions directly related to natural disasters.

This agreement provides that CleanSpark will deliver energy modeling, analytics, and implementation of storage and controls for a microgrid designed to function in addition to or disconnected from the utility when economic or adverse conditions dictate. The system will be controlled by CleanSpark’s patented mPulse software, to ensure optimization of energy costs while delivering the highest level of resiliency. The homeowner, Frank Huerta, has been forced to evacuate the residence due to wildfires, rolling blackouts, and other natural disasters. As a business owner, Mr. Huerta is intimately aware of the impact a sustained disruption can cause, not only to his residence, but to his company as well.

According to PG&E data, some California counties lost power up to seven times during 2019, significantly more than the national average (1.4, US Energy Information Administration study).

CleanSpark’s team of energy professionals are currently working closely with the homeowner and the utility to analyze the system for appropriate sizing. Through the utilization of the Company’s mVSO microgrid energy modeling software, the system will be optimally designed to provide resilient energy for all critical circuits, according to the needs of the client, in the event of a sustained disruption. Additionally, the Company’s suite of products will provide end-to-end management for the microgrid, ensuring the lowest cost of energy during standard, connected operation.

When asked about selecting the CleanSpark line of products, customer Frank Huerta stated, “I did a tremendous amount of research on backup power systems including residential microgrids and found CleanSpark’s solution to be the best solution to meet my needs. Their system is extremely flexible, providing unlimited opportunities for future expansion as my requirements change. The single greatest value, for us, is to have the confidence and security that our home is not subject to unpredictable energy interruptions that are beyond our control…you really can’t put a price on that. We plan to someday expand this system to fully disconnect our home from the utility connection.”

Zach Bradford, CEO of CleanSpark added, “Mr. Huerta’s situation is an increasingly common theme with California homeowners. His need for resilient energy presented us with another opportunity to deliver tremendous value with a smart solar and storage microgrid. In addition to providing energy certainty and long-term savings, this deployment provides an application of our solutions to solve real-world challenges for our clients and partners. Expanding our highly respected military, commercial, and industrial energy solutions to include residential microgrids is the next logical progression in our growth plans. The market continues to evolve away from the unstable, centralized power grid, and customers of all walks of life are now seeking the certainty and confidence that a residential microgrid can provide. Additionally, many of our clients have found that the ever-evolving utility tariffs have devalued their existing solar or generator investments, and this provides the solution to secure the legacy investment value and leverage it well into the future.”

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at [email protected] or visiting the Company’s website at www.cleanspark.com.

Investors are encouraged to contact the Company at [email protected] or visiting the Company’s website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com.

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