CleanSpark Inc (OTCMKTS: CLSK) is making an explosive move up the charts since dipping to lows near $1 last week. The stock has runner in its blood and is highly volatile skyrocketing to highs of $15.01 in September.
There is a lot to get excited about here; CleanSpark acquired Pioneer Custom Electrical Products which recently received a $2.4 million equipment order. CleanSpark also recently executed a Profession Services Agreement with NYSE listed Macerich to the tune of $18 million.
CleanSpark Inc (OTCMKTS: CLSK) provides advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. Their services consist of intelligent energy monitoring and controls, microgrid design and engineering, microgrid consulting services, and turn-key microgrid implementation services. CleanSpark’s software allows energy users to obtain resiliency and economic optimization. Their software is uniquely capable of enabling a microgrid to be scaled to the user’s specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment.
CleanSpark is a really exciting company with a number of big projects in the works; a recent 8k states ‘On October 2, 2018, CleanSpark, Inc. executed a Profession Services Agreement with NYSE listed Macerich to perform engineering, design and consultation services and follow-on construction work to install a Microgrid designed by the Company’s engineering team which utilized the Company’s mVSO software in creating the system design. The system will be controlled by the Company’s mPulse controller upon completion. The microgrid will be located at Macerich’s Thousand Oaks facility in California.
The Agreement provides that the Company will be compensated in stages, and each stage requires that Macerich provide written authorization to proceed. The agreement further requires that an additional Design Build Contract be executed for the construction portion of the project. At this time this agreement only specifically authorizes an initial $88,250 for consultation and engineering services, the balance of the $18 million microgrid installation contract falls under later stages. These additional stages require Macerich’s written authorization to proceed with the overall project. The Company expects to receive written permission to proceed on all stages of the contract in a seven-week timeline.
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Earlier this year CleanSpark acquired substantially all of the assets and operations of Pioneer Power Solutions, Inc. a NASDAQ listed company’s wholly owned subsidiary, Pioneer Custom Electrical Products (Pioneer CEP). In July CleanSpark announced that Pioneer’s Switchgear segment has received a $2.4 million equipment order as part of a contract for the new U.S. Embassy in Beirut, Lebanon.
Earlier this year CleanSpark received two new utility patents from the United States Patent and Trademark Office. The first Patent, “Establishing Communication and Power Sharing Links Between Components of a Distributed Energy System, US 9,941, 696 B2”, awarded 4/10/2018, is a revolutionary patent that specifically addresses CleanSpark’s engineering and data-analytics technologies, processes and procedures. The patent covers CleanSpark’s ability to ‘receive data from a plurality of sources within a microgrid, which is then analyzed to forecast power needs across the microgrid, or a combination of multiple ‘fractal’ microgrids, and then determining whether or when to share power with the requesting module.’ The second Patent, “Parallel Path Downdraft Gasifier Apparatus and Method, US 9,890, 340 B2”, awarded 2/13/2018, further enhances CleanSpark’s patent portfolio surrounding its proprietary gasification and waste-to-energy technologies.
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Currently trading at a $89 million market valuation CleanSpark boasts fast growing revenues reporting $328,586 in sales for the 3 months ended June 30, 2018 up from $103k for the same period last year. There is a lot to get excited about here; CleanSpark acquired Pioneer Custom Electrical Products which recently received a $2.4 million equipment order. CleanSpark also recently executed a Profession Services Agreement with NYSE listed Macerich to the tune of $18 million. The stock has runner in its blood and looks to have some shorts trapped here as it runs back up the charts. We will be updating on CLSK when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CLSK.
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Disclosure: we hold no position in CLSK either long or short and we have not been compensated for this article.