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CleanSpark to start selling Bitcoin in 'self-funding' pivot

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CleanSpark will start selling a portion of the Bitcoin earned from its mining operations each month in a bid to become financially self-sufficient, the US Bitcoin miner said on April 15. 

In addition, CleanSpark secured a $200 million credit facility backed by Bitcoin (BTC) through an agreement with Coinbase Prime, the institutional brokerage division of the crypto exchange, according to a statement.

Together, the Bitcoin sales and credit line mean CleanSpark has “achieved escape velocity — the ability to self-fund operations, augment our bitcoin treasury, and contribute to expansion capital through operational cash flow,” Zach Bradford, CEO of CleanSpark, said. 

CleanSpark has opened an institutional Bitcoin trading desk to facilitate the cryptocurrency sales, it added. 

Crypto mining stocks are down sharply in 2025. Source: Morningstar

Related: Bitdeer turns to self-mining Bitcoin, US operations amid tariff tumult — Report

Navigating market volatility

The Bitcoin miner’s emphasis on self-funding comes as mining stocks reel from across-the-board selloffs in the first quarter of 2025. 

Shares of CoinShares Crypto Miners ETF (WGMI) — a publicly traded fund tracking a diverse basket of Bitcoin mining stocks — are down more than 40% since the start of the year, according to data from Morningstar. 

“[W]e believe this is the right time to evolve from a nearly 100% hold strategy adopted in mid-2023 and move back using a portion of our monthly production to support operations,” Bradford said. 

Cheaper stock prices effectively increase Bitcoin miners’ cost of capital and can potentially cause creditors to demand faster loan repayments. 

Analysts at JP Morgan attributed the downturn to eroding cryptocurrency prices, which added pressure to business models already strained by the Bitcoin network’s April 2024 halving. 

Halvings occur roughly every four years when the Bitcoin network automatically cuts mining rewards in half. 

Price per Bitcoin versus network hashrate. Source: JPMorgan

In April, pressure on mining stocks worsened when US President Donald Trump announced plans for sweeping tariffs on US imports.

US Bitcoin miners are especially vulnerable to trade wars because they rely on specialized mining hardware, often sourced from foreign manufacturers.  

Bradford said he expects CleanSpark’s financial self-sufficiency to differentiate it from peers “who continue to rely on equity dilution to fund operating costs or increased leverage to grow their Bitcoin reserves.”

Other miners are taking similarly aggressive measures to adapt to the changing market.

Bitdeer, a Singapore-based crypto miner, has reportedly touted plans to start manufacturing mining hardware in the United States to mitigate the impact of Trump’s planned import tariffs.

Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express

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CLOU Electronics Sets New Safety Benchmark in Energy Storage with TS-800 Fire Test Certification

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SHENZHEN, China, April 21, 2025 /PRNewswire/ — Energy storage has garnered unprecedented attention regarding its safety and reliability. On January 16, 2025, a fire broke out at the Moss Landing lithium battery energy storage power plant in California, USA. This is not the first accident at the Moss Landing energy storage plant. In both 2021 and 2022, the plant experienced fires caused by overheating due to unexpected moisture exposure of the batteries. The specific cause of this latest incident is still under further investigation.

In recent years, many countries around the world have been deploying large-scale lithium battery energy storage facilities. However, safety concerns have become a “Sword of Damocles” hanging over the energy storage industry. Risks such as internal short circuits, overcharging, over-discharging, external environmental temperature impacts, misuse, and battery management system failures can lead to thermal runaway in battery cells, potentially causing fires.

TS-800: An Upgrading for the Way in Fire Safety Test
In 2024, the internationally renowned certification body CSA issued TS-800, a large-scale fire test protocol for energy storage systems. This test provides manufacturers with direct criteria for optimizing system safety, while also offering critical data for regulatory agencies, fire departments, and insurance companies to assess risks.

The advancement of site-level energy density is a crucial driving indicator for industry development. With active fire suppression systems turned off, the challenge lies in arranging units more densely while ensuring that thermal runaway in one unit does not affect others. This metric profoundly challenges the boundaries of energy storage fire safety design.

“The existing standards (such as UL 9540A) are capable of testing for thermal runaway, but they do not adequately simulate fire propagation scenarios, especially in multi-module container systems where a single battery fire can potentially ignite adjacent units or even the entire system. The core goal of the TS-800 test is to address this gap,” said Marvin Peng, the Battery & Energy Storage Certifier of CSA Group.

In 2024, Sungrow verified that its liquid-cooled energy storage system endured four hours of combustion laid in an A/B array. All cabinets remain unharmed and without any fire spreading to its surroundings and the structure remained intact, the battery compartment doors did not open, and no mechanical parts were ejected. That because Sungrow applied pressure-sensing explosion venting, multi-layer fire resistance, and dual-compartment design in its PowerTitan system, which played a crucial role in ensuring the safety of the entire energy storage system. Moreover, Sungrow Power further announced that its next-generation large-scale storage product, PowerTitan 2.0, had also passed the large-scale fire test. Additionally, leading energy storage companies Trina Storage and BYD claimed to have passed the large-scale fire test in October 2024 and January 2025, respectively.

Challenge the Limit Spacing: A Breakthrough in Energy Storage Safety
Recently, the 15 years pioneers of energy storage commercialization——CLOU Electronics has announced completing the CSA TS-800 Large-Scale Fire Test (LSFT) in February 2025. This achievement again highlights its unwavering commitment to developing innovative, reliable, and safe energy storage solutions for a global market.

“CLOU committees that every product delivered is trustworthy and has undergone rigorous testing. The Aqua-C2.5 5MWh utility scaled energy storage system is the world’s first large-scale energy storage system to adopt an active ventilation fire protection design. Through active cell sensing, it triggers an electric shutter explosion suppression solution in thermal runaway scenarios, effectively controlling the spread of thermal runaway at extreme short distances in 140mm,” said Eric Wang, System Director of CLOU ESS Division.

The Aqua-C2.5 was lunched at September 2024, it also engineered for durability with an impressive C5 anti-corrosion rating and IP55 protection. It has earned multiple certifications, including CE, UL1973, UL9540A, UL9540, IEC62619, IEC63056, IEC62477-1, UN38.3, NFPA855, and NEC, and has passed the rigorous IEEE693 seismic test.

The experiment adhered to stringent technical specifications throughout the testing process. Under the supervision of the CSA Group, the TS-800 LSFT subjected the product to extreme fire conditions, simulating a real-project conditions, four 20ft cabinets were arranged according to an actual A/B A/D back-to-back and side to side real station layout. All cabinets were spaced in an extreme short distance apart with full load capacity to replicate operational scenarios. The test also aims to evaluate whether the structural design (such as fire barriers) and material selection (such as flame-retardant components) can effectively prevent the spread of fire when external firefighting measures completely fail.

During the test, temperatures inside the battery cabinet exceeded 1000°C and burned consistently for 48 hours. Despite this, the adjacent cabinets’ temperatures remained below 40°C since the product’s active ventilation blade employing function like active detection and off-gassing, which maximally prevent combustion and ensure thermal isolation.

“The results were remarkable: the Aqua-C2.5 demonstrated excellent flame retardancy, thermal insulation, and superior safety design.” Battery & Energy Storage Certifier of CSA Group Marvin Peng said. Meanwhile, after the combustion test, the structural integrity fully preserved, also showcasing the exceptional rigidity and compressive performance of its design, redefining the durability and stability of energy storage products. This milestone underscores the system’s ability to safeguard against fire risks in even the harshest conditions, setting a new safety benchmark in the energy storage industry.

 

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SOURCE CLOU Electronics Co., Ltd.

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Argand Partners Announces Dividend Recapitalization of Sigma Engineered Solutions

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NEW YORK, April 21, 2025 /PRNewswire/ — Argand Partners, LP (“Argand”), the New York-based middle-market private equity firm, with offices in the San Francisco Bay Area and Miami, today announced a dividend recapitalization of its portfolio company, Sigma Engineered Solutions (“Sigma” or the “Company”), a global supplier of precision metal components servicing a variety of industrial markets including electrical, power transmission & distribution, and instrumentation. The Company’s headquarters and distribution center is located in Garner, North Carolina, with manufacturing facilities in India, Mexico, and the United States.

“We are thrilled about the growth at Sigma and the wonderful job CEO Brad Ward and his team have done expanding its customer base, building on its competitive advantages, and delivering exceptional results,” said Charlie Burns, Partner at Argand Partners. “With this transaction, we are excited to accomplish the twin objectives of creating operational flexibility and returning capital to our investors. Over our ownership, Sigma has grown into a differentiated global supplier, and we’re excited about supporting its next phase of growth.”

“This transaction is a strong endorsement of the progress we’ve made and the opportunities ahead,” said Brad Ward, CEO of Sigma Engineered Solutions. “Argand has been a tremendous partner, supporting our vision and investing in the tools we need to scale. We’re excited to continue building on our momentum and delivering value to our customers and stakeholders.”

Heather Faust, Managing Partner at Argand Partners, added, “Sigma’s engineering expertise, vertically integrated global supply chain, and world-class manufacturing footprint have positioned them as a trusted partner to leading multinational OEMs. Sigma has ever-growing importance with its customers because of its unique combination of just-in-time distribution capabilities coupled with operational excellence in design, metal forming, precision machining, and finishing for metal components and assemblies on a worldwide scale.

Ares Management and Apogem Capital participated in the upsizing of the credit facility in connection with the transaction.

About Sigma Engineered Solutions

Sigma Engineered Solutions, headquartered in Garner, North Carolina, is a global leader in the manufacturing of precision-engineered metal components. The Company serves end markets benefiting from increased electrification and connectivity, including electrical, power transmission & distribution, instrumentation, consumer electronics, and general industrial markets. With world-class manufacturing and supply chain facilities across the United States, India, and Mexico, Sigma’s engineering expertise, quality, and distribution capabilities make it a preferred partner for multinational corporations across the globe.

About Argand Partners

Argand Partners is a New York-based middle-market private equity firm, with offices in the San Francisco Bay Area and Miami. The firm makes investments in manufacturing, distribution, and business services companies with a strong U.S. nexus (headquarters, significant operations, primary growth market, and/or majority of revenue) and often significant global operations.

Argand-owned companies are typically niche market leaders in the U.S. and/or globally, have sustainable competitive advantages, defensive characteristics, and significant growth potential supported by secular demand trends.

Argand is a control investor with a team that employs a hands-on approach to partnering with great management to create value across the investment lifecycle and pursue significant growth.

Argand is a signatory to the UN-supported Principles for Responsible Investment. Further information on Argand can be found on the firm’s website: http://www.argandequity.com

For more information about Argand or Sigma contact:

Heather Faust
Managing Partner & Co-Founder
Argand Partners
(212) 588-6470
hfaust@argandequity.com 

Charlie Burns
Partner
Argand Partners
(212) 588-6473
cburns@argandequity.com

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SOURCE Argand Partners

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TCN Receives 2025 Product of the Year Award from CUSTOMER Magazine

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Operator Honored for Exceptional Innovation

ST. GEORGE, Utah, April 21, 2025 /PRNewswire/ — TCN, a leading provider of cloud-based contact center solutions, today announced that TMC, a global, integrated media company, has named Operator as a 2025 CUSTOMER Product of the Year Award winner.

TCN’s Operator is a cloud-based contact center solution designed to enhance agent efficiency and customer experience through innovative tools such as workforce optimization/management, reporting and analytics, a data compliance suite and automated systems.

“We are honored to receive the 2025 Product of the Year Award for Operator,” said Darrin Bird, chief operating officer of TCN. “This is our eighth year winning this award, and we are grateful that our commitment to providing cutting-edge solutions to our clients continues to be recognized in the industry. We look forward to providing even better service and advanced technology for years to come.”

The 2025 CUSTOMER Product of the Year Award recognizes solutions providers that are advancing the contact center industry one solution at a time. The award highlights products that enable their clients to meet and exceed their customers’ expectations.

“On behalf of TMC and CUSTOMER magazine, I’m thrilled to recognize TCN with a 2025 Product of the Year Award,” said Rich Tehrani, CEO of TMC. “Operator has clearly earned its place among the industry’s top solutions, and I’m eager to see how TCN continues to innovate and lead in 2025 and beyond.”

About TCN

TCN is a global leader in cloud-based contact center solutions for accounts receivable management (ARM), health care providers, enterprises, contact centers and business process outsourcers (BPOs). TCN’s comprehensive suite includes omnichannel solutions, automation, predictive dialers, IVR, Click2Pay, compliance solutions and real-time analytics, driving operational efficiency and customer satisfaction.

TCN promises immediate access to the latest TCN Operator platform, facilitating seamless scalability. With a commitment to excellence and a dedication to meet evolving business needs from start to finish through industry-leading customer service, TCN continues to redefine the contact center landscape. For further details, visit www.tcn.com.

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SOURCE TCN, Inc.

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