The clean spark spread products all use the front-year UK ETS contract for their carbon component. However, pros and cons to the product are derived from what some may consider an inefficiency in its composition. UK utility SSE said in May that it would hedge some of its wind generation through the gas and carbon markets to reduce its exposure to power market volatility, implying that it would be exposed only to volatility on the clean spark spreads.īut the OTC clean sparks market is largely set up for hedging, which may be holding back speculative activity on the products. The clean spark spreads’ generally lower volatility means some utilities may also prefer to mark against these rather than against power contracts - which also take on volatility from the gas and emissions markets. The start of an over-the-counter (OTC)-traded clean spark spread market supported this stability, with the large utilities holding the market fairly still as they looked to catch up on hedging through these products - having been behind plan because of the UK emissions trading system (ETS) market only opening in May. Winter 2021-22 clean spark spreads (£/MWh) Liquidity on clean spark spreads was initially muted as prices were stable for most of this summer, but prices and trading activity have increased sharply this month, reflecting the increased risk and uncertainty in the UK electricity market going into this winter. Clean spark spreads - the theoretical profit margin for gas-fired power plants - emerged as a tradeable instrument in May to coincide with the UK launching its own emissions trading scheme. You need JavaScript enabled to view it.UK energy prices have hit national headlines in recent weeks as the impact of surging wholesale prices has been felt by retail suppliers and consumers alike.
This email address is being protected from spambots. For more information about CleanSpark, please visit our website at Investor Relations Contact CleanSpark is a Forbes 2022 America's Best Small Company and holds the 44th spot on the Financial Times' List of the 500 Fastest Growing Companies in the Americas. We cultivate trust and transparency among our employees, the communities we operate in, and the people around the world who depend on Bitcoin. We strive to leave the planet better than we found it by sourcing and investing in low-carbon energy, like wind, solar, nuclear, and hydro. In 2020, we began applying that expertise to develop sustainable infrastructure for Bitcoin, an essential tool for financial independence and inclusion. Since 2014, we’ve helped people achieve energy independence for their homes and businesses. October daily BTC mined reached a high of 19.2.ĬleanSpark (NASDAQ: CLSK) is America’s bitcoin miner. Sales of BTC equated to proceeds of approximately $16.1 million. The Company funded growth and operations through the sale of 836 bitcoins in October 2022 at an average of approximately $19,340 per BTC. Currently deployed fleet of about 54,000 latest-generation bitcoin miners with a hashrate of 5.1 EH/s as of October 31, up 23% from September 2022.Total BTC converted for operations and growth in October: 836.Total BTC holdings as of October 31: 290.
Calendar year-to-date bitcoin mined: 3,622.Bitcoin mined in October: 532, up 19% from September 2022.
#Cleanspark market cap update#
As I’ve said many times before, these successes are made possible by the hard work of our teams who are absolutely dedicated to ensuring CleanSpark maintains its position as a top publicly traded mining company in North America,” said Zach Bradford, Chief Executive Officer.īitcoin Mining & Operations Update (unaudited)
And we’ve now seen a 20% increase in our hashrate two months in a row. The progress there has translated into another record-breaking month for us, mining a total of 532 bitcoin. “I’m excited to announce that phase two of our immersion-cooled mining campus in Norcross is now officially complete and hashing. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the calendar year-to-date ending October 31, 2022.
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