viewCleanSpark Inc

CleanSpark's intelligent switchgear shipped to new US Embassy in Beirut

Its year-to-date revenues through February 29 exceeded $3.6 million, a 467% year-over-year increase

Cleanspark, Inc. - CleanSpark Inc shipsits intelligent switchgear to support the new US Embassy in Beirut, Lebanon
CEO Zach Bradford said the company is on track to meet its projected revenue of $10 million for FY2020

CleanSpark Inc (NASDAQ:CLSK) announced Tuesday the shipment of its intelligent switchgear to support the new US Embassy in Beirut, Lebanon. 

Also, the Utah-based company said that its fiscal year-to-date revenues through February 29 exceeded $3.6 million -- which is a 467% year-over-year increase. 

CleanSpark makes software that allows an energy microgrid to be scaled to the user's specific needs and implemented across commercial, industrial, military and agricultural sectors. 

READ: CleanSpark reveals $1.1M in annual revenue from new subsidiary P2klabs

“We have achieved significant progress this quarter on meeting our stated objective to increase our revenue,” said CEO Zach Bradford in a statement.   

“Our current fiscal year-to-date revenues of $3.6 million represent an increase of 467% over the same fiscal period in 2018. We believe we are on track to meet our projected revenue of $10 million for our 2020 fiscal year and achieve our corporate goal of profitability by the end of this calendar year.”

Bradford continued: “These revenues include several significant orders including the shipment of the final components of an intelligent switchgear order, fulfilled by CleanSpark’s Critical Power Division, for final delivery to the new US Embassy in Beirut, Lebanon.”

The company’s stock recently traded up 7.3% to 2.89 a share in New York.

--UPDATES stock price--

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Quick facts: CleanSpark Inc

Price: 2.08 USD

Market: NASDAQ
Market Cap: $20.52 m

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CleanSpark Inc (NASDAQ:CLSK) CEO Zach Bradford tells Proactive the software and services company posted quarterly revenue numbers of $3.6 million, a five-fold year-over-year increase due to growth of custom switchgear equipment sales. Bradford says demand from companies is due to the growth...

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