CleanSpark Names Matthew Schultz as New CEO

CleanSpark, a Bitcoin mining company, announced on Monday that founder Matthew Schultz is now the CEO, effective immediately, following Zachary Bradford's resignation. Bradford had led the company since October 2019. Schultz, who co-founded CleanSpark in 2014 and formerly held the CEO position, is also the executive chairman. In his statement, Schultz expressed a deep commitment to the company, its employees, and its mission. He emphasized his focus on ensuring stability and continuity while supporting the team and board. As CleanSpark continues to grow, the board believes this leadership change will better position the company to seize available opportunities. Last week, CleanSpark reported a remarkable 91% rise in revenue year-over-year for its fiscal third quarter, amounting to a net income of $257.4 million. Furthermore, the company’s bitcoin treasury surpassed $1 billion, contributing to its total assets of approximately $3.1 billion, which includes $1.08 billion in bitcoin, as reported by The Block. Schultz reassured stakeholders that the current management team will remain intact and reiterated the company's priorities: leading the global bitcoin mining sector, advancing data center development, and remaining opportunistic as they move forward. On the trading front, CleanSpark shares experienced a 2% decrease on Monday, although the stock has risen about 4.5% year-to-date, despite a 15% decline over the past five years during Bradford's leadership.