Connect with us

Technology

CleanSpark Comments on Trading Halt Related to Clerical Warrant Conversion Error

Published

on

No Change to Company’s Business, Operations or Financial Statements

LAS VEGAS, Nov. 8, 2024 /PRNewswire/ — CleanSpark, Inc. (Nasdaq: CLSK), America’s Bitcoin Miner® (the “Company”), today addressed the trading halt imposed by Nasdaq following an issue relating to the calculation of the number of outstanding warrants (Nasdaq: CLSKW) (the “Warrants”) and the number of shares underlying those Warrants. The trading halt is not the result of any issue associated with CleanSpark’s business, operations, filings with the SEC, financial statements or securities. 

The Warrants were originally issued by GRIID Infrastructure, Inc. (“GRIID”) and converted into CleanSpark warrants in connection with the Company’s acquisition of GRIID on October 30, 2024. In connection with the consummation of the acquisition of GRIID, and pursuant to the terms of the merger agreement, the Warrants were to be adjusted to reflect the merger exchange ratio of 0.069593885 of a share of the Company’s common stock for each share of GRIID common stock. As a result, the outstanding 13,800,000 Warrants are to represent the right to purchase an aggregate of 960,395 shares of the Company’s common stock at an exercise price of $165.24 for each full share. However, the exchange ratio was erroneously applied to the Warrants in certain documentation, including the listing application filed with Nasdaq.

The Company contacted representatives of Nasdaq promptly upon becoming aware of this issue and is working diligently to resolve this issue and allow trading of its common stock and Warrants to resume.

About CleanSpark
CleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner®. We own and operate multiple data centers that primarily run on low-carbon power. Our infrastructure responsibly supports Bitcoin, the world’s most important digital commodity and an essential tool for financial independence and inclusion. We cultivate trust and transparency among our employees and the communities we operate in. Visit our website at www.cleanspark.com.

Forward-Looking Statements
This press release includes “forward-looking statements” as defined under the federal securities laws. All statements other than statements of historical fact included in this press release, including, among other things, statements regarding the Warrants and the business combination transaction between CleanSpark and GRIID, future events, plans and anticipated results of operations, business strategies, the anticipated benefits of the transaction, the anticipated impact of the transaction on CleanSpark’s business and future financial and operating results, the expected amount and timing of synergies from the transaction and other aspects of CleanSpark’s operations or operating results are forward-looking statements. Words and phrases such as “ambition,” “anticipate,” “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, CleanSpark expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond CleanSpark’s control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements.

The following important factors and uncertainties, among others, could cause actual results or events to differ materially from those described in forward-looking statements: CleanSpark’s ability to quickly resolve the Warrant calculation issue and enable trading its securities on Nasdaq to be resumed; CleanSpark’s ability to successfully integrate GRIID’s businesses and technologies, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the expected benefits and synergies of the transaction may not be fully achieved in a timely manner, or at all; the risk of potential litigation relating to the transaction that could be instituted against CleanSpark or its directors; the risk that CleanSpark will be unable to retain and hire key personnel; unanticipated difficulties, liabilities or expenditures relating to the transaction; the effect of the transaction on CleanSpark’s common stock price and uncertainty as to the long-term value of CleanSpark common stock; risks that the transaction disrupts current plans and operations of CleanSpark and its management team and potential difficulties in hiring or retaining employees as a result of the transaction; reliance on a limited number of key employees; the availability of financing opportunities and risks associated with economic conditions; dependency on continued growth in blockchain and bitcoin usage; anticipated additions to CleanSpark’s hashrate and the timing thereof; the risk that the electrical power available to CleanSpark’s facilities does not increase as expected; the success of CleanSpark’s digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which CleanSpark operate; increasing difficulty rates for bitcoin mining; bitcoin halving; changes in network and infrastructure; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth and ability to execute on business strategy; CleanSpark’s ability to remediate the material weakness identified in the internal control over financial reporting included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2023; global and regional changes in the demand for the services of CleanSpark, including the conflicts in Ukraine and the Middle East, and the global response to such conflict, security threats on facilities and infrastructure; insufficient liquidity; unexpected cost increases, inflationary pressures or technical difficulties in constructing, maintaining or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; public health crises, including pandemics (such as COVID-19) and epidemics and any impacts or related company or government policies or actions; international monetary conditions and exchange rate fluctuations; CleanSpark’s ability to complete any other announced or any other future dispositions or acquisitions on time, if at all; security and cybersecurity threats and hacks; dependency on third parties to maintain cold and hot wallets that hold CleanSpark’s bitcoin; the expectations of future revenue growth and ability to execute on CleanSpark’s business strategy; and other economic, business, competitive and/or regulatory factors affecting CleanSpark’s business generally as set forth in its filings with the SEC. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to CleanSpark’s periodic reports and other filings with the SEC, including the risk factors contained in CleanSpark’s most recent Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal year ended September 30, 2023, and any subsequent filings with the SEC. Forward-looking statements represent current expectations and are inherently uncertain and are made only as of the date hereof (or, if applicable, the dates indicated in such statement). Forward-looking statements contained herein are made only as to the date of this press release, and CleanSpark assumes no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.

Investor Relations Contact
Brittany Moore
702-989-7693
ir@cleanspark.com  

Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-comments-on-trading-halt-related-to-clerical-warrant-conversion-error-302300039.html

SOURCE CleanSpark, Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Seedtag ANZ (formerly JustEggs) Strengthens APAC Presence with Two Senior Leadership Hires

Published

on

By

Based in Sydney, the new Commercial and Trading Directors of ANZ will focus on growing the Seedtag business and optimising privacy-first advertising solutions in Australia and New Zealand

SYDNEY, Nov. 25, 2024 /PRNewswire/ — Seedtag, the global contextual advertising company, entered the ANZ market earlier this year with the acquisition of JustEggs. Today, the company announced two new senior leadership hires, based in the Sydney office, to strengthen its presence in the region. In his new position as Commercial Director ANZ, Mark Brownie will focus on launching and growing the Seedtag business in Australia and New Zealand, while Daniel Macinante, Trading Director ANZ, will lead and develop trading strategies across ANZ, focusing on optimising contextual advertising solutions. Both Mark and Daniel will directly report to Nik Kontoulas, Seedtag’s Managing Director ANZ, and former CEO and Founder of JustEggs.

AI-powered advertising across the globe

Headquartered in New York City and Madrid, Seedtag has a global team of over 600 people with offices in EMEA, LATAM, North America, and APAC. In July 2024, Seedtag entered the ANZ market with the acquisition of JustEggs, an Australian-owned creative intelligence business. Strengthening its presence in the APAC market, Australia and New Zealand now benefit from Seedtag’s privacy-first advertising solutions that reach consumers based on their real-time interests at scale.

At the core of Seedtag’s success is Liz, its proprietary contextual AI technology, optimised for advertising across screens. Powered by machine learning and computer vision, Liz analyses contextual signals to gain a nuanced, human-like understanding of content. At an unmatched speed, it aligns ads with people’s current interests, processing millions of articles in a day. With over 10 years of development, Liz is a sophisticated platform that offers clients and agencies an innovative, privacy-compliant approach to audience targeting that remains unaffected by evolving technology and regulatory changes. In 2024, Liz was honoured by Digiday as the “Best Contextual Targeting Offering” in the Digiday Media Awards.

Expertise as the foundation for growth

As Commercial Director ANZ, Mark Brownie brings 20 years of media experience and long-standing industry relationships. He has a deep understanding of the evolving digital landscape and recognises the vital role of contextual advertising in client addressability, especially with the increasing focus on privacy compliance. Before this role, Mark spent 3 years as general manager of digital revenue at News Corp Australia and 4 years in New York as global VP of commercial strategy for Storyful, a News Corp business. He also has extensive experience in startups and scaling businesses in digital media.

“Contextual advertising has never been more important for marketers,” said Mark. “In a time where privacy-centric strategies aren’t just innovative, they’re necessary, Seedtag brings the most sophisticated and effective contextual advertising platform to Australia. To be a part of such an incredible and established global company, and being trusted to launch and scale it in the Australian market is both humbling and exciting.”

As Trading Director ANZ, Daniel Macinante brings a deep understanding of media sales and programmatic advertising, along with a proven track record of success. With over 9 years of experience in the media industry, he has built a reputation for driving results and innovation. Macinante swiftly progressed to leadership roles at News Corp Australia, where he held the position of Group Sales Director for independent agencies. Daniel’s passion for independent agencies is well-known across the industry, and he has consistently championed their value. As a dedicated member of the Independent Media Agencies of Australia (IMAA), Daniel has played an active role in advocating for these agencies.

“Contextual advertising is rapidly becoming a cornerstone of the digital marketing ecosystem, and I’m eager to bring my expertise to Seedtag to help shape the future of this space in Australia,” stated Daniel. “With the increasing importance of privacy-first solutions, contextual advertising will be crucial in providing brands with the tools they need to connect with audiences in a meaningful, non-intrusive way.”

“As we aim to scale and enhance our privacy-first solutions across APAC, the invaluable expertise of Mark and Daniel will be essential,” said Dal Gill, VP of New Markets at Seedtag. “I’m confident that our unique contextual advertising solutions are significantly helping ANZ brands and publishers achieve their advertising goals while addressing the need for privacy-first, scalable targeting.”

About Seedtag

Seedtag, the global contextual advertising company, specializes in privacy-first advertising throughout the open web and CTV, powered by its contextual AI, Liz. Seedtag enables brands and agencies to discover the most relevant audience interests using a sophisticated contextual graph fueled by contextual data from +10,000 premium publishers. This capability ensures advertisers reach their audience at the right moment, with the right message. Utilizing the power of context to achieve advertisers’ aims across the customer journey, Seedtag creates innovative advertising solutions for everyone.

Founded in 2014, Seedtag has its headquarters in New York City and Madrid, with a global team of +600 people and offices in EMEA, LATAM, North America, and APAC.

 

 

View original content:https://www.prnewswire.com/apac/news-releases/seedtag-anz-formerly-justeggs-strengthens-apac-presence-with-two-senior-leadership-hires-302314184.html

SOURCE Seedtag

Continue Reading

Technology

Bernard Looney Appointed Chairman of the Board of Directors at Prometheus Hyperscale

Published

on

By

Global energy executive joins Prometheus Hyperscale to accelerate sustainable data center growth and provide strategic counsel on $10B flagship project in Evanston, Wyoming

HOUSTON, Nov. 24, 2024 /PRNewswire/ — Prometheus Hyperscale, a leading developer of sustainable hyperscale data centres, is delighted to announce the appointment of Bernard Looney as Chairman of the Board of Directors.

Mr. Looney, former CEO of BP, brings to the role more than three decades of energy sector expertise – from the frontline to the boardroom. He will provide strategic guidance on the development of the company’s growth plans, including its $10B flagship data center in Evanston, Wyoming, which will be among the largest facilities of its kind in the world when completed.

The announcement of Mr. Looney’s appointment comes as societies and large technology companies grapple with how to power the explosive growth in artificial intelligence (AI). The International Energy Agency (IEA) estimates that by 2026 data centers globally will use over 1,000 terawatt-hours (TWh) annually, around the same as Japan uses today. Against this backdrop of soaring demand and squeezed supply, Prometheus is pioneering new standards in hyperscale data center operations.

These approaches include harnessing a variety of energy sources to power its data centers, including renewables, natural gas and possibly nuclear at a later date through our strategic partnership with Oklo. Prometheus aims for its data centers to not impact grid customers.

Another key challenge is the enormous amount of power and water used to cool data centers to prevent the servers from overheating. Prometheus Hyperscale uses a unique liquid cooling system that dramatically outperforms traditional air-cooling methods, reducing energy consumption by up to 50%. This system also utilises deep underground water reservoirs and captures the waste heat to reuse or sequester it. It’s believed that Prometheus Hyperscale’s flagship project will be the first hyperscale data center in the United States to combine liquid heat transfer and heat reuse technologies.

Founded by Trenton Thornock, an experienced leader in energy, finance and infrastructure, Prometheus Hyperscale’s flagship project in Evanston, Wyoming, promises to be the most advanced sustainable data center in the United States, and one of the largest in the world, when it becomes operational in 2025/26. The 1GW-capacity developed site will cover an area of 640-acres (one square mile), making it approximately three quarters the size of New York’s Central Park. Four further sites are currently earmarked across Arizona and Colorado.

As Chairman, Mr. Looney will ensure the successful execution of Evanston as well as Prometheus’s broader business goals. His appointment comes following the recent announcement that Trevor Neilson, a renowned climate technology entrepreneur and philanthropist, will serve as the company’s President.

It’s estimated that $1 trillion will be invested in the U.S. in data centers in the next five years – with an additional $1 trillion internationally.

Trenton Thornock, Founder and CEO of Prometheus Hyperscale commented: “Having Bernard Looney join as Chairman is a tremendous step forward for Prometheus. Bernard’s track record and transformative leadership in the energy sector aligns perfectly with our vision for the future of data centers. His insights, as well as his extensive operational and project delivery experience, will be invaluable as we bring our flagship project in Evanston, Wyoming to life and set new benchmarks for sustainable digital infrastructure.”

Trevor Neilson, President of Prometheus Hyperscale, commented: “Bernard is the perfect person to guide Prometheus as we form partnerships across the energy sector to access low-carbon electrons that will power the future of AI. His extensive industry experience and leadership will be instrumental as Prometheus establishes itself at the forefront of sustainable data center operations.”

Bernard Looney commented: “I am delighted to join Prometheus Hyperscale at this pivotal moment as the world grapples with the intersection of AI, Energy and Sustainability. Innovative power solutions are desperately needed to ensure that AI is unleashed to tackle some of the biggest global challenges including healthcare, economic growth, and the energy transition. We must work to find solutions that lead to Net Positive AI – where the benefits to our world outweigh any costs. The flagship Evanston project is one such solution and I look forward to lending a helping hand, working alongside Trenton, Trevor, and the entire Prometheus team to help bring this vision to life. I can’t imagine a more exciting challenge.”

Factsheet: Prometheus Hyperscale’s Flagship Project in Evanston, Wyoming

Prometheus’s site in Evanston, Wyoming, aims to redefine sustainable infrastructure in the data center industry, setting a new benchmark for operational excellence and environmental responsibility.

Key aspects of the project include:

Extensive Land and Power Capacity: The project encompasses a 12,000-acre ranch, including a dedicated 640-acre plot (about 1 square mile) for data center facilities. Prometheus has secured an initial 120 MW of grid power through Rocky Mountain Power, with plans for an additional 120 MW, ensuring robust power availability without curtailment risks.

On-Site Renewable and Low-Carbon Power Generation: With an on-site generation goal of over 1 GW, which will make it one of the largest data centers in the world, Prometheus is incorporating a mix of wind, solar and gas power sources. Additionally, the company has a strategic partnership with Oklo focused on next-generation fission-based nuclear power, delivering reliable, sustainable baseload energy to the campus.

High-Performance Fiber Connectivity: The Evanston site will connect directly to the Northern transcontinental fiber trunk, offering high-speed, low-latency connections between the East and West Coasts. With agreements for up to 400G of service and plans to scale up to 800G when commercially available, the project is poised to meet the rigorous connectivity needs of AI, cloud, and high-performance computing clients and to be one of the biggest data centers in the world.

Cutting-Edge Liquid Cooling Technology: Prometheus’s unique liquid cooling systems will be deployed to achieve unparalleled energy efficiency by capturing and reusing waste heat. This innovative solution is specifically engineered for high-performance computing environments and will play a critical role in reducing the carbon footprint of the facility.

Strategic Location and Access to Skilled Labor: Located 80 miles from Salt Lake City, Utah, the Evanston site benefits from proximity to a large, skilled workforce, bolstered by a regional Journeyman Lineman program focused on data center operations. This strategic location supports the project’s operational and expansion goals while reinforcing Prometheus’s commitment to regional economic growth.

For more information about Prometheus Hyperscale and its sustainability initiatives, please visit www.prometheushyperscale.com.

About Prometheus Hyperscale

Prometheus Hyperscale, founded by Trenton Thornock, is revolutionizing data center infrastructure by developing sustainable, energy-efficient hyperscale data centers. Leveraging unique, cutting-edge technology and working alongside strategic partners, Prometheus is building next-generation, liquid-cooled hyperscale data centers powered by cleaner energy. With a focus on innovation, scalability, and environmental stewardship, Prometheus Hyperscale is redefining the data center industry for a sustainable future.

View original content to download multimedia:https://www.prnewswire.com/news-releases/bernard-looney-appointed-chairman-of-the-board-of-directors-at-prometheus-hyperscale-302314829.html

SOURCE Prometheus Hyperscale

Continue Reading

Technology

Sixth Avenue Custom Millwork Launches Revamped Website to Enhance Client Experience

Published

on

By

Sixth Avenue Custom, a premier provider of custom millwork services for both home and business owners, has launched a revamped website designed to offer a more streamlined user experience, showcasing their custom woodworking and millwork services.

FREDERICK, Md., Nov. 24, 2024 /PRNewswire-PRWeb/ — Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services. The updated website highlights the company’s dedication to creating high-quality custom cabinetry, millwork, and architectural details for residential and commercial clients while offering a modern, easy-to-navigate platform for users. As an industry leader in bespoke craftsmanship, Sixth Avenue Custom’s redesigned site now makes it even easier for potential clients to engage with their work.

Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services.

Six generations ago, Ezra Beachley began crafting high-quality furniture with unmatched precision and care. Now, his great, great, great grandson Ryan Beachley carries that same ethos forward with Sixth Avenue Custom, a company set on maintaining tradition while embracing the future. “Our model and process is not the ordinary way of doing things. It’s unique, it’s custom, it’s the Sixth Avenue Custom way,” said Ryan. This philosophy of blending old-world craftsmanship with modern tools and technologies is front and center on the newly launched website. The updated site offers an engaging, user-friendly experience and showcases the company’s vast portfolio of exquisite residential and commercial projects—from bespoke cabinetry to intricate architectural millwork.

The updated website also introduces responsive design features, ensuring visitors can easily access the company’s portfolio and services across any device, from desktops to smartphones. In addition to a more polished look and feel, the website now offers smoother navigation, allowing users to browse through service offerings, explore more content about the company’s process, and quickly request consultations. By including a dedicated blog and expanded resource sections, Sixth Avenue Custom aims to educate clients about the nuances of custom millwork, giving them the knowledge they need to make informed decisions for their spaces.

If you’re looking for outstanding custom millwork solutions, visit Sixth Avenue Custom to view the newly enhanced website or schedule a consultation for your next project. The company’s dedicated team continues to push the boundaries of design and woodworking, ensuring each project exceeds client expectations. To learn more, explore the site at https://sixthavenuecustom.com or call Sixth Avenue Custom at 301-327-1504. Sixth Avenue Custom is located at 5907 Enterprise Court, Frederick, Maryland, 21703.

Media Contact

Mai-Lan Spiegel, 321 Web Marketing, 1 7038107557, mailan@321webmarketing.comhttps://sixthavenuecustom.com/

View original content:https://www.prweb.com/releases/sixth-avenue-custom-millwork-launches-revamped-website-to-enhance-client-experience-302314333.html

SOURCE Sixth Avenue Custom

Continue Reading

Trending