CleanSpark Inc has software that helps companies become more energy efficient
- Develops energy-control software and builds microgrids
- Launching mVoult residential microgrid product
- Successfully expanded into bitcoin mining with data centers acquisition
What CleanSpark does:
(), based in Bountiful, Utah, has developed software to help companies and homes become more energy-efficient, and is also now big in bitcoin mining.
The company designs and builds microgrids while providing engineering, consulting and turn-key implementation services. It also offers software for energy monitoring and system controls.
CleanSpark’s software – mPluse and mVSO (Microgrid Value Stream Optimizer) – enables a microgrid to be scaled to the user’s specific needs and can be used by agricultural, commercial, industrial enterprises as well as the military and municipal governments, and residential users. Customers include not only energy consumers but independent power producers (renewable energy) and energy-storage vendors.
The company, founded in 1987, runs on a software-as-a-service (SaaS) distribution model. CleanSpark’s mPulse software and control suite operates on-site in real-time, providing economic dispatch controls to maximize performance and resiliency operations to back-up critical energy loads in the event of a utility disruption.
The company says its software is ideally suited for the rapidly expanding distributed energy resource (DER) market, which it has been targeting as a key revenue generator.
The global energy infrastructure is ageing and unreliable due to increases in loads and lack of new large-scale generation facilities (nuclear and coal). Meanwhile, renewable energy resources like solar, batteries, fuel cells and clean-energy generators are connecting to the grid, sometimes intermittently, stressing it and making it more complex to manage.
But, at the same time, consumers such as defense installations, industrial complexes and campuses across the world are turning to virtual power plants and microgrids to decrease their reliance on the grid to tap directly into renewable energy providers and to strengthen their own energy security against blackouts. In a sense, these consumers become their very own utilities.
As a result, CleanSpark’s mPluse and mVSO software and control solutions are designed to provide consumers of all sizes with the mission-critical technologies that can help integrate and operate DERs as reliable energy generators on the grid.
For those consumers who get energy off the main power grid, the company’s technology helps them modernize their own distribution microgrids while replacing fossil fuel generation with clean-energy suppliers. CleanSpark’s microgrids monitor energy rates continuously in 15-minute cycles, tapping the least expensive source.
How is it doing:
CleanSpark has made a very busy start to 2021, as it predicted in an annual letter to shareholders on December 31, 2020.
The company said then that it was aggressively seeking new acquisition…