From microgrids to machines
CleanSpark did not start in Bitcoin. Its Form 10-K records that the company "was formerly known as Stratean Inc. and changed its name to CleanSpark, Inc. in November 2016", and the SEC's own registrant history goes back further still, to a shell named SmartData Corp. The 2026 proxy statement dates the business itself: Matt Schultz co-founded CleanSpark in 2014 and led it, in his own description, "as an alternative energy generator focused on converting biomass into energy using patented gasifier technology", then into software for distributed energy systems and demand response.
Mining arrived by acquisition. The company "entered the bitcoin mining industry through its acquisition of ATL Data Centers LLC in December 2020" and bought a second data centre in August 2021. The energy software business was sold off and is reported as discontinued operations. The transition was not uncontested: a class action complaint amended in February 2022 alleges misstatements between December 2020 and August 2021 about the ATL acquisition and the expansion that followed. No court has ruled on those allegations in any document this directory has read, and the entry carries no flag tag as a result.
The current shape
CleanSpark reports on a 30 September year end. As of 30 September 2025 its machines produced an average of 45.6 exahashes per second, peaking at 50 during the period, from 241,934 miners, up from 188,500 a year earlier. The footprint is spread deliberately thinly across small sites: roughly 620 megawatts and 27.02 exahashes per second across ten cities in Georgia, 234 megawatts and 12.43 exahashes per second across ten wholly owned sites in Tennessee, 63 megawatts in Mississippi, and about 110 megawatts of immersion-cooled capacity in Wyoming. Three of the Tennessee sites came from the October 2024 acquisition of GRIID Infrastructure.
During the year to 30 September 2025 CleanSpark mined 7,873 bitcoin and held 10,428 at year end, with a further 2,583 recorded as a receivable because they were posted as collateral, most of that against a Coinbase credit line. Listing here is not endorsement.