CleanSpark (CLSK) Prices 9.09M Share Common Offering at $22/Sh

CleanSpark, Inc. (NASDAQ: CLSK) ("CleanSpark"), a diversified software, services, and bitcoin mining company, today announced the pricing of its previously announced underwritten public offering of 9,090,910 shares of common stock at a public offering price of $22.00 per share.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The gross proceeds are expected to be approximately $200 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The offering is expected to close on or about March 18, 2021, subject to satisfaction of customary closing conditions.

CleanSpark intends to use the net proceeds from the offering for working capital and general corporate purposes, including infrastructure expansion, the acquisition of additional cryptocurrency miners and further development of its mVoult product lines, as well as acquisitions or strategic investments in complimentary businesses, products, services or technologies.

An automatic shelf registration statement on Form S-3 (File No. 333-254290) relating to the securities being offered was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 15, 2021, which became effective upon filing. The offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the automatic shelf registration statement.

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