CleanSpark Releases September 2025 Bitcoin Mining Update

Bitcoin treasury grows to over 13,000 and achieves year over year increases of more than 27%
in monthly production and 26% in fleet efficiency

Concluded transformative fiscal year with record milestones, strategic acquisitions and
enhanced financial flexibility

CleanSpark, Inc. (Nasdaq: CLSK), America’s Bitcoin Miner® (the “Company”), released its unaudited Bitcoin mining and operations update for the month ended September 30, 2025.

“September was monumental for CleanSpark as we strengthened our leadership team with key C-suite appointments and expanded our Bitcoin-backed credit line by $200 million in capacity,” said Matt Schultz, CleanSpark’s Chief Executive Officer and Chairman. “Looking ahead, the coming months and fiscal year represent the beginning of an exciting new chapter in CleanSpark’s growth story as we unlock additional value from our energy portfolio and pipeline to drive long-term shareholder returns. Our business is evolving, and we have the team, expertise, and assets to thrive at the intersection of energy, Bitcoin, and compute.”

Fiscal Year 2025 Overview

Fiscal 2025 was a pivotal year for CleanSpark, marked by strategic accomplishments, leadership transitions, and increased financial flexibility. With these changes complete, and the mining operating business performing at scale, the Company is positioned for success and evolution in fiscal 2026.

• Hashrate Milestones: CleanSpark reached 30 EH/s in October 2024 and 50 EH/s in June 2025, becoming the first publicly traded Bitcoin miner to achieve these levels of scale using fully self-operated data centers.
• Regional Expansion: The purchase of GRIID Infrastructure added best-in-class mining sites, a TVA-powered development pipeline in Tennessee, and talented staff — strengthening the foundation for further expansion and resilience.
• Treasury Leadership: CleanSpark built a leading Bitcoin treasury of more than 13,000 self-mined BTC and demonstrated the use of Bitcoin as a productive capital asset to finance growth and deliver accretive returns.
• Leadership Evolution: Key management appointments included:
  • Matt Schultz, Chief Executive Officer and Chairman
  • Gary A. Vecchiarelli, Chief Financial Officer and President
  • Scott Garrison, Chief Development Officer and Executive Vice President
  • Taylor Monnig, Chief Operating Officer and Chief Technology Officer
  • Brian Carson, Chief Accounting Officer
  • Harry Sudock, Chief Business Officer

Together, the leadership team combines deep operational, technical, and financial expertise to guide growth at scale.

• Digital Asset Management Strategy: In Q3, CleanSpark advanced its DAM strategy by launching a derivatives program to optimize balance sheet yields, manage volatility, and strategically monetize production to fund operations.
• Strengthened Financial Flexibility: To support hashrate growth, HPC expansion, and DAM initiatives, CleanSpark executed multiple financing milestones:
  • $650 million convertible note offering with a 0% interest rate, share buy-back of $145 million and an effective conversion price of $24.66 with purchase of a capped call (December 2024)
  • $400 million of capacity in Bitcoin-backed credit facilities