An accident reporting and prevention system, and a worker’s compensation program, further create an environment of psychological safety for employees.Ĭompetitive wages begin at or above market rates for similar entry-level jobs. Large-scale immersion-cooling at CleanSpark’s data center in Norcross, Georgia, further helped reduce e-waste and increased energy-efficiency of mining machines while increasing output of some machine models by up to 85%.Īll employees are provided equipment, training and certifications according to job duties. Mining campuses provide “spinning reserves” that facilitate utility companies’ ability to work with the fluctuating supplies that come from renewables while improving the performance of baseline power production facilities such as nuclear plants.Įfforts to reduce e-waste have increased the amount of time CleanSpark’s operations run at, or near, 100% while dramatically reducing shipping and packing emissions, and related waste, that comes with sending mining machines to outside repair houses. The Company’s bitcoin mining efforts are focused on procuring low-carbon grid-connected power that minimizes its impact on the planet.Ĭlean energy accounts for over 90% of the energy mix, according to data from the power providers that supply power to CleanSpark’s bitcoin mining operations.
Some highlights of the report, which can be viewed or downloaded at this link, are as follows: These results have allowed the Company to identify key ESG value drivers.
#CLEANSPARK SHORT REPORT SERIES#
It also included a series of in-depth interviews and surveys designed to help identify the topics most relevant to the Company’s internal and external stakeholders and most influential to its business. This assessment, conducted by an independent consultant, consisted of a benchmark review of its peers and of leading ESG frameworks and ratings (e.g., SASB, TCFD, MSCI, ISS, and Sustainalytics). We are always on the lookout for such measurements and will include in our future reports those that are logically sound and in line with our commitments.”ĬleanSpark completed its inaugural ESG materiality assessment in early 2022. “As society and technology evolve, new standards and techniques will measure a corporation’s social and environmental responsibility. We have employed the best practices used by many industries to produce a comprehensive report for the public and our stakeholders and for us to better understand our progress and the areas that need more of our focus," said Zach Bradford, CEO of CleanSpark.
“Our commitments to people and the environment have been part of CleanSpark’s foundation from day one and they continue to evolve. (Nasdaq: CLSK), America’s Bitcoin Miner™, today released its inaugural ESG and Corporate Responsibility Report for the 2022 fiscal year, or the period from October 1, 2021, to September 30, 2022.Ĭlean energy accounts for more than 90% of its energy mix, making it a sustainability leader among public bitcoin mining companies in America, while the use of large-scale immersion cooling has allowed it to reduce e-waste and increase the efficiency of its mining machines by up to 85%, according to the report. LAS VEGAS, Ma(GLOBE NEWSWIRE) - CleanSpark Inc. At the same time, increased electricity demand from those operations can put extra strain on already-stressed power grids.The inaugural report highlights the Company's sustainability efforts, such as the use of clean energy and environmentally-friendly technologies like immersion cooling Meanwhile, blockchains that support crypto assets now use more energy than many countries, including Argentina and Australia, according to the report.Īir, noise, and water pollution from crypto mining operations can hurt the environment and “exacerbate environmental justice issues for underserved communities,” the document says. now does 38% of the world’s Bitcoin mining, compared with 3.5% in 2020.
Bitcoin and Ether are the world’s first- and second-biggest tokens, respectively.Īccording to statistics cited Thursday by the White House, the U.S.
#CLEANSPARK SHORT REPORT SOFTWARE UPGRADE#
The Ethereum network is set to undergo a major software upgrade this month, known as the Merge, that will transition the blockchain to a less energy-intensive approach.
Read More: Fact-Checking 8 Claims About Crypto’s Climate Impact Software upgrade Since early 2021, American government agencies have launched a series of efforts related to global warming.Ĭreating new coins and validating transactions on the Bitcoin and Ethereum blockchains involves an energy intensive process in which multiple computers compete to solve complex math puzzles, with the winner adding new verified transactions to the blockchain in exchange for token rewards. The conclusions released on Thursday dovetail with the Biden administration’s focus on mitigating climate change.
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