The Apparent Connection between CIO's Success and Business Outcomes
To the Cloud & Beyond A Death Knell for Private Data Centers?
Mastering Partnership with a Remote Data Center
Understanding the Business First
Datascience: The Three Lessons Learnt
David Elges, Chief Information Officer, DC Government
Drowning in Data? Your Enterprise Might Be an AI Candidate
Troy Lau,Division Leader for AI, Human and Data Technologies, Draper
Building a Data-Centric Ecosystem
Michael Thieme, Senior Advisor to the Deputy Director for IT and Operations, U.S. Census Bureau
Privacy and Ethics in Data Governance
Ken Knapton, Chief Information Officer, Progrexion
Thank you for Subscribing to CIO Applications Weekly Brief
As the new policies of FERC 2222 begin to take effect over the coming year, CleanSpark expects to be uniquely positioned to benefit from the implementation of the regulation using its GridFabric applications and other technologies to maximize market opportunities.
Fremont, CA: CleanSpark, an advanced software and controls technology solutions company focused on solving modern energy challenges, announced it has agreed to acquire ATL Data Centers for up to $19.4 million in shares of the company's common stock.
This transaction represents the first strategic acquisition as part of a larger growth plan following CleanSpark's recent $40 million institutional investment. ATL creates a unique business opportunity as a full-scale, profitable demonstration facility for the company. The property is currently served by two separate utility interconnections with entirely different rate structures that power individual business segments. CleanSpark plans to deploy its software technologies and trade secrets to maximize energy savings, expand total power capacity, provide resilient electricity, and reduce greenhouse gas emissions. The company anticipates that this will involve the design and installation of multiple microgrids at the facility. Each microgrid would be focused on a specific function, however, the fractal topology of the design will enable them to be interconnected to share power, creating resiliency as well as maximizing total facility efficiency. Since power resiliency directly supports increased profitability in data or processor-intensive applications, the company's ability to deliver high power reliability is expected to demonstrably increase each segment of the existing business's profitability.
As part of the first phase, the company has contracted with the local municipality to expand the power to the facility from 20MW to 50MW. It is expected that this expansion will begin promptly and be completed in April 2021.
In addition to this initial utility-level expansion, CleanSpark will begin modeling solutions with its proprietary mVSO software and subsequently add renewable energy generating assets and energy storage to the site, which will be operated by the company's patented mPulse controls. Additionally, the company intends to more than quadruple the number of ASIC (application-specific integrated circuit) mining units in operation during the expansion.
Ultimately, it is envisioned that the facility will feature a real-time web-based view of power and dollar savings generated by CleanSpark's technology, offering clients a unique opportunity to see demonstrated savings in a real-world, power-intensive application. This data will allow clients to make microgrid investments with more reliable information.
Matthew Schultz, CleanSpark's Executive Chairman, commented, "The recent, significant investments into Bitcoin by such respected companies as Square, PayPal, and MicroStrategy further validate our due diligence conclusions surrounding this acquisition. Our assessment regarding the need for renewable energy in digital currency mining was further supported this week when Square announced the intent to deploy $10 million towards its Bitcoin Clean Energy Investment Initiative. This transaction should immediately position us as one of the largest publicly-traded Bitcoin producers in the country. We will certainly be the only microgrid company that owns and controls the distributed energy supply to its own mining activities, in furtherance of developing our best-in-class technologies. Our efforts will demonstrate to potential clients in this space an easily transferable, low risk for execution model that can quickly enhance their bottom line."
I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info
Featured Vendors
-
Jason Vogel, Senior Director of Product Strategy & Development, Silver Wealth Technologies
James Brown, CEO, Smart Communications
Deepak Dube, Founder and CEO, Datanomers
Tory Hazard, CEO, Institutional Cash Distributors
Jean Jacques Borno, CFP®, Founder & CEO, 1787fp
-
Andrew Rudd, CEO, Advisor Software
Douglas Jones, Vice President Operations, NETSOL Technologies
Matt McCormick, CEO, AddOn Networks
Jeff Peters, President, and Co-Founder, Focalized Networks
Tom Jordan, VP, Financial Software Solutions, Digital Check Corp
Tracey Dunlap, Chief Experience Officer, Zenmonics