<SEC-DOCUMENT>0001663577-20-000501.txt : 20201217
<SEC-HEADER>0001663577-20-000501.hdr.sgml : 20201217
<ACCEPTANCE-DATETIME>20201217172443
ACCESSION NUMBER:		0001663577-20-000501
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200930
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201217
DATE AS OF CHANGE:		20201217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CLEANSPARK, INC.
		CENTRAL INDEX KEY:			0000827876
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				870449945
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39187
		FILM NUMBER:		201397133

	BUSINESS ADDRESS:	
		STREET 1:		1185 SOUTH 1800 WEST, SUITE 3
		CITY:			WOODS CROSS
		STATE:			UT
		ZIP:			84087
		BUSINESS PHONE:		(702) 941-8047

	MAIL ADDRESS:	
		STREET 1:		1185 SOUTH 1800 WEST, SUITE 3
		CITY:			WOODS CROSS
		STATE:			UT
		ZIP:			84087

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STRATEAN INC.
		DATE OF NAME CHANGE:	20141201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMARTDATA CORP
		DATE OF NAME CHANGE:	19880120
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>clsk8k.htm
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of Earliest Event Reported):
December 17, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CLEANSPARK, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of Registrant as specified in
its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nevada</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-39187</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>87-0449945</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or Other Jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of Incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1185 S. 1800 West, Suite 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Woods Cross, Utah 84087</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of Principal Executive Offices)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(702) 941-8047</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Registrant&rsquo;s Telephone Number, Including
Area Code)</B>&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A&nbsp;</B></P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed since
last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="width: 98%"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white">Securities registered pursuant
to Section&nbsp;12(b) of the Act:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt">Title of each class</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Trading</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center">Symbol(s)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Name of each exchange</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center">on which registered</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Common Stock, par value $0.001 per share</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>CLSK</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>The Nasdaq Stock Market LLC</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 0.75pt; border-top: Black 0.75pt solid; border-bottom: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933(&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Emerging growth company <FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: MS Mincho">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;2.02</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Results of Operations and Financial Condition</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">On December 17, 2020, CleanSpark, Inc. issued a press release
announcing its financial results for the fourth quarter and year ended September 30, 2020.&nbsp;A copy of this press release is
attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">In accordance with General Instructions B.2 of Form&nbsp;8-K,&nbsp;the
information in this Current Report on Form&nbsp;8-K,&nbsp;including Exhibit 99.1, shall not be deemed &ldquo;filed&rdquo; for purposes
of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), or otherwise subject to
the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933,
as amended, or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference
in such filing to this Current Report on Form&nbsp;8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;9.01</B></FONT></TD>
    <TD STYLE="width: 91%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Financial Statements and Exhibits.</B></FONT></TD>
    <TD STYLE="width: 1%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Exhibits.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid">Exhibit&nbsp;No.</P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 7%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 90%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; border-bottom: black 1pt solid">Description</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: blue"><U><A HREF="ex99_1.htm">Press Release, dated December 17, 2020</A>.</U></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"></P>



<P STYLE="margin-top: 0; margin-bottom: 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 22%; text-align: right"></TD>
    <TD STYLE="width: 36%"><B>&nbsp;</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 25%"><B>CLEANSPARK, INC.</B></TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">&nbsp;Dated: December 17, 2020 </TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Zachary K. Bradford</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Zachary K. Bradford</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Chief Executive Officer and President&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>



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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">CleanSpark, Inc. Reports Fiscal 2020
Financial Results</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">SALT LAKE CITY, UT, December 17, 2020
&ndash; CleanSpark, Inc. (Nasdaq: CLSK)(&ldquo;the &ldquo;Company&rdquo;), an advanced software and controls technology solutions
company, focused on solving modern energy challenges, today reported results for its fiscal year ended September 30, 2020.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify"><B>Financial Highlights</B></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">As
the Company forecasted a year ago, CleanSpark more than doubled our annual revenues, with fiscal 2020 revenue exceeding $10.0
million, an increase of 122% from $4.5 million for the prior year. These results represent the third consecutive year in which
revenues more than doubled.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Gross
Margin increased 21.1% to $2.12 million compared 14.9% and $0.67 million to the prior year.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Loss
from operations improved by $1,470,729 compared to the prior year.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Net
loss improved by $2,770,780 compared to the prior year.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Non-GAAP
net loss for the fiscal year ended September 30, 2020 totaled $466,000 or $(0.03) per basic and diluted share, compared to income
of $106,000 or $0.01 per basic and diluted share in the same year-ago period.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Operational
successes resulted in raising $44 million in funding over the last 12 months. These funding transactions are expected to provide
long-term financial stability for the foreseeable future as the company moves towards profitability.</FONT></LI>

</UL>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>2020
Operational Highlights</B></FONT></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">CleanSpark
successfully uplisted to the Nasdaq Capital Market in January 2020</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">The
Company improved corporate governance and oversight by appointing two new independent board members and the creation of a fully
independent audit and compensation committee.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">CleanSpark
further developed its reliable, talented and goal-oriented management team, including the promotion of Zach Bradford as its Chief
Executive Officer, the appointments of Lori Love, as Chief Financial Officer, Amer Tadayon as Chief Revenue Officer, and Marty
Weishaar as VP of Marketing. The Company&rsquo;s co-founder and former CEO, Matthew Schultz assumed new duties as the Executive
Chairman. Our team has now grown to 62 full-time staff members as of December 16, 2020.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">During
our fiscal year, we completed successful acquisitions of GridFabric and p2klabs. Both acquired companies are cashflow-positive
and provide us with entirely new verticals for growth.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">We
implemented new sales and marketing initiatives resulting in significant increases in overall revenues, contracted backlog, and
proposal pipeline.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; background-color: white; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">CleanSpark,
Inc. and ReJoule were jointly awarded a $2.9 Million grant from the California Energy Commission with support from the Ford Motor
Company for second-life EV battery deployments. The first joint deployment is expected to occur in the next quarter.</FONT></LI>

<LI STYLE="margin: 13.5pt 0; text-align: justify; background-color: white; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">The
Company announced a microgrid development agreement with International Land Alliance. According to the terms of the contract,
CleanSpark is expected to provide microgrid power solutions to more than 400 unique residential resort properties.&nbsp;</FONT></LI>

</UL>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0"><B></B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0"><B>Financial Summary</B><BR>
<BR>
</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0; text-align: justify"><B>Revenues</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0; text-align: justify">The Company recognized more than $10.0
million in revenues during the year ended September 30, 2020, as compared with $4.5 million in revenues for the year ended September
30, 2019.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.4pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify">For the year ended September 30, 2020
and 2019 our revenue was derived from two business segments:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0; text-align: justify"><B>Energy Segment</B> &ndash; Consisting
of our CleanSpark, LLC., CleanSpark Critical Power Systems, Inc. and GridFabric, LLC lines of business, this segment provides services,
equipment and software to the energy industry. The income from our Energy Segment is the result of contracts to sell switchgear
equipment, perform engineering and design services, and provide software for distributed energy and microgrid systems.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"><B>Digital Agency Segment</B> &ndash;
The Company&rsquo;s wholly owned subsidiary p2klabs, Inc. <FONT STYLE="letter-spacing: -0.15pt">provides design, software development
and other technology-based consulting services.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">Our Energy business segment contributed
$9.0 million or 90% of consolidated revenue in fiscal 2020, compared to $4.5 million or 100% of consolidated revenue in the same
year-ago period. The Company&rsquo;s digital agency segment generated services revenue from our p2klabs subsidiary, acquired in
January 2020. This segment contributed $1.0 million or 10% of consolidated revenue in 2020.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0; text-align: justify"><B>Gross Profit</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.25pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0; text-align: justify">Our gross profit for the year
ended September 30, 2020 was $2.12 million or 21.1% of revenue, as compared with gross profits of $0.6 million or 14.9% of
revenue for the year ended September 30, 2019. The increase in gross margin was largely driven by increased high-margin
revenues derived from our software services and related revenue.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.25pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.25pt 0 0; text-align: justify"><B>Operating Expenses</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.2pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">Our 2020 operating expenses were approximately
the same as our operating expenses for the same period in 2019. Operating expenses as a percentage of revenue improved to 122%
in 2020 versus 381% in the prior year.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify"><B>Other (expense)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">The Company&rsquo;s total other expenses
in the year ending September 30, 2020 totaled approximately $(8.2) million as compared to $(9.5) million in 2019. The Company experienced
significant non-cash expenses related to interest and capital expenses associated with prior financing agreements. We do not anticipate
experiencing the same type of expenses in 2021.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ending September 30, 2020,
net loss attributable to common stockholders on a GAAP basis totaled $23.3 million or $(2.44) per share in 2020 compared to a loss
of $26.1 million or $(6.25) per share in 2019.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Non-GAAP figures</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">Adjusted EBITDA, a non-GAAP term, resulted
in negative $4.91 million in 2020, as compared to negative $4.35 million in 2019.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">Non-GAAP net loss attributable to common
stockholders totaled $4.93 million or a loss of $(0.52) per share in 2020, as compared to $4.89 million or a loss of $(1.17) per
share in 2019.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify"><B>Working capital &nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">Cash and cash equivalents totaled $3.1
million as of September 30, 2020, as compared to $7.8 million on September 30, 2019. Just after our fiscal year end, on October
9, 2020, the Company closed an underwritten offering and received gross proceeds of $40 million, before deducting underwriting
expenses and fees. The company believes its current cash position and other available funds provide it with sufficient liquidity
to meet its cash requirements for current operations and to continue to fund its growth.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">The Company&rsquo;s form 10-K and accompanying audited financial
statements are available at on www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify"><B>Management-Commentary</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">&ldquo;This was an excellent year for
CLSK, despite challenging economic conditions resulting from the COVID-19 pandemic. Fortunately, the impact of the COVID pandemic
on CleanSpark has been relatively minimal to date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From an operations perspective, we successfully
transitioned our workforce to a remote model for the majority of the year. Fortunately, prior to the start of &lsquo;stay at home&rsquo;
orders, we already had more than 50% of our workforce working remotely full-time or part-time. Additionally, all remote staff members
were equipped with the required equipment to make the transition from office to home rather seamless. As a result, we experienced
minimal internal disruption to our business, while productivity continues to remain high. Additionally, the Company successfully
adapted our software delivery model to support remote commissioning. These strategic improvements will benefit us well beyond the
end of the pandemic by reducing global deployment expenses. In the short term, the adaptation of these parameters significantly
decreased the impact of the virus on deployments.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our focus has been on maintaining consistency
in the timely delivery of our products; increasing our sales efforts, enhancing the features and functionality of our software
products as well as the completion of accretive acquisitions. The acquired companies provide immediate profitable and scalable
revenues; and lastly, strengthening our balance sheet by raising more than $40 million in working capital.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our reported backlog at the end of our
prior fiscal year of $6.4 million, consisting of contracted revenue not yet delivered. Following the successful execution of those
contracts, the current contracted backlog remains strong at approximately $6.5 million as of the date of this filing. Our current
proposal pipeline is approximately $25.0 million, an increase from roughly $10.0 million we had as recently as the close of our
fiscal year on September 30, 2020. This increase is directly attributable to our newly expanded sales team. We expect our proposal
closing rate to accelerate as COVID-19 vaccines begin to be made available to the public in the coming quarters. We believe our
increase in backlog demonstrates the pent-up demand for resilient, distributed energy solutions as the pandemic nears a close,&rdquo;
stated Zach Bradford, CleanSpark&rsquo;s CEO.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Outlook</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">The Company expects the somewhat cyclical
nature of our business to continue. As an example, approximately 10% of our fiscal 2020 revenue was realized in the quarter ending
December 31, 2020. We anticipate this trend will continue in fiscal 2021 and we forecast that our second and third fiscal quarters
will again be our strongest. We expect to generate $20 million in revenue related to our current business segments and we expect
the recent acquisition of ATL Data Center to contribute a minimum of $8 million in additional Bitcoin-based (BTC-USD) revenues
for 2021. We are working diligently to expand the data center capacity allowing us to further increase these initial estimates,
but the company&rsquo;s guidance will remain somewhat conservative until the expansion has been completed and we have sufficient
data to forecast a firm outlook. Finally, we have not measured the potential additional value expected to be derived from the demonstration
of our energy technologies within the data center for additional microgrid deployment and sales opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">Parties interested in learning more
about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting
the Company&rsquo;s website at www.cleanspark.com.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Investors are encouraged to contact
the Company at&nbsp;ir@cleanspark.com, or visiting the Company&rsquo;s website at https://ir.cleanspark.com/</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>About CleanSpark:</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">CleanSpark offers software and intelligent
controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company
provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization.
Our 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. Our product and services consist of intelligent
energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies
to help transform and grow businesses.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify"><B>Non-GAAP Financial Measures</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 15pt; text-align: justify">Management believes that the use of
adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess
the performance of the company. The company defines adjusted EBITDA as income (loss) attributable to common stockholders before
interest, taxes, depreciation, amortization, impairment of long-lived assets, financing costs, stock-based compensation expense,
other non-cash expenses, and expenses related to discontinued operations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Adjusted EBITDA is not a measurement
of financial performance under generally accepted accounting principles in the United States, or GAAP. Because of varying available
valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company&rsquo;s non-cash
operating expenses, CLSK management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring
expenses allows for meaningful comparisons between the company&rsquo;s core business operating results and those of other companies,
as well as providing the company with an important tool for financial and operational decision making and for evaluating its own
core business operating results over different periods of time.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="width: 100%">
<TR>
    <TD STYLE="border-top: #DDDDDD 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The company&rsquo;s adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The company&rsquo;s adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. CLSK management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">September 30, 2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">September 30, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 69%; text-align: left; padding-bottom: 2.5pt">Net loss (US GAAP)</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">(23,346,143</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">(26,116,932)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Less: Depreciation, amortization and other non-cash items:</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,672,331</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,902,981</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Software amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">163,918</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,453,635</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Stock based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,053,232</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,993,043</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accrued employee stock-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,732,045</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Impairment expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,915,186</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest, financing charges, non-cash amortization of debt discounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,758,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,483,662</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Non-cash amortization of right of use assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Loss on settlement of debts and disposal of assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,218</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19,425</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Total:</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,430,063</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,767,932</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,916,080</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,349,000)</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0pt"></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Adjusted EPS excludes the impact
of certain items and, therefore, has not been calculated in accordance with GAAP. CLSK management believes that exclusion of certain
selected items assists in providing a more complete understanding of the company&rsquo;s underlying results and trends and allows
for comparability with its peer company index and industry. CLSK management uses this measure along with the corresponding GAAP
financial measures to manage its business and to evaluate the company&rsquo;s performance compared to prior periods and the marketplace.
The company defines Non-GAAP (loss) income attributable to common stockholders as (loss) or income before amortization, stock-based
compensation, expenses related to discontinued operations, impairment of long-lived assets and non-cash financing and interest
expense. Adjusted EPS expresses adjusted (loss) income on a per share basis using weighted average diluted shares outstanding.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Adjusted EPS is a non-GAAP financial
measure and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP.
These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies.
The company expects to continue to incur expenses similar to the adjusted income from continuing operations and adjusted EPS financial
adjustments described above, and investors should not infer from the company&rsquo;s presentation of these non-GAAP financial
measures that these costs are unusual, infrequent or non-recurring.</P>

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<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The following table sets-forth non-GAAP
net loss attributable to common stockholders and basic and diluted earnings per share:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">September 30, 2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">September 30, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 69%; text-align: left; padding-bottom: 2.5pt">Net loss (US GAAP)</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">(23,346,143</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">(26,116,932)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Less: Depreciation, amortization and other non-cash items:</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,672,331</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,902,981</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Software amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">163,918</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,453,635</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Stock based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,053,232</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,993,043</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accrued employee stock-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,732,045</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Impairment expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,915,186</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Non-cash interest, financing charges, non-cash amortization of debt discounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,744,588</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,963,829</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Non-cash amortization of right of use assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">44,569</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Total:</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,410,683</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,228,674</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Non-GAAP Adjusted Loss</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,935,460</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,888,258)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Weighted average common shares outstanding - basic and diluted</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,550,626</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,177,402</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Loss per common share - basic and diluted</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.52</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1.17)</TD></TR>
</TABLE>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white; color: #202020"><B>Forward-Looking
Statements:</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white">CleanSpark
cautions you that statements in this press release that are not a description of historical facts are forward-looking statements.
These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should
not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those
set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the
fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing
of orders and deliveries, the successful and continued integration of acquired businesses, ongoing demand for its software products
and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other
risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under
the heading &quot;Risk Factors&quot; in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned
not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation
to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements
are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Contact - Investor Relations:</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">CleanSpark Inc.</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Investor Relations</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">(801)-244-4405</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

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