The cannabis industry has come a long way in a very short period of time. During the mid-2000s, just a third of all Americans polled by Gallup favored

Cannabis Stocks Set to Benefit from Wave of Good News

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The cannabis industry has come a long way in a very short period of time. During the mid-2000s, just a third of all Americans polled by Gallup favored the idea of legalizing marijuana on a national level. As of 2018, 2 out of every 3 Americans favor legalization. This favorability toward cannabis is a big reason we’ve witnessed an increase in state-level legalizations. Following midterm elections, 32 states have now legalized medical marijuana, with 10 of those states also allowing adult-use of recreational cannabis.

The recent Farm Bill, coupled with Trump’s openness to legalization, and states like New York talking recreational the cannabis industry can only go up from here.

Today we are highlighting: CleanSpark, Inc. (CLSK), Aurora Cannabis, Inc. (ACB.TO), Canopy Growth Corporation (NYSE: CGC), Cronos Group, Inc. (CRON), and Tilray, Inc. (TLRY).

The $3.5bn cannabis industry is one of the nation’s most energy intensive, often demanding 24-hour indoor lighting rigs, heating, ventilation and air-conditioning systems at multiplying grow sites. Legal cannabis cultivation in the U.S. consumes an estimated 1.1 terawatt-hours of electricity a year, according to the 2018 Cannabis Energy Report, published by Scale Microgrid Solutions along with New Frontier Data and the Resource Innovation Institute. Companies managing these solutions are great ways to diversify your cannabis industry risk.

Indoor growers are looking to cut spiraling electricity consumption with custom-built microgrids in U.S. states where cannabis cultivation is legal.

A company that seems to be in the right place at the right time to capitalize on this huge market inefficiency is CleanSpark, Inc. (CLSK) (Market Cap: $80.41M Share Price: $2.20).

CLSK has a unique microgrid solution for the cannabis industry. Their mPulse software reduces the monthly electricity bill of indoor grow-houses by up to 82%! They do this by virtually eliminating the demand charges that can account for almost 50% of the utility charges for such a facility.

Pressure is mounting on the cannabis industry to improve its margins after a lackluster 3rd quarter, companies like CLSK can help do just that.

CLSK also just released an impressive letter to shareholders highlighting: an agreement for an $18.3 million ‘Zero Net Energy’ Microgrid with an S&P 500 Member Real Estate Investment Trust (REIT), near completion on a $900,000 contract to install a ‘turn-key advanced microgrid system’ at the U.S. Marine Corps Base Camp Pendleton, they have been awarded 2 patents, and they updated an acquisition that could be a huge boost to the company’s year end revenues.

CLSK’s acquisition, Pioneer Custom Electrical Products, has delivered $32 million in products since 2016 and has $5 million in backlog. They have also received a $2.4 million equipment order as part of a contract for the new U.S. Embassy in Beirut, Lebanon which should end up on CLSK’s balance sheet.

JADIRI GAMER

Fandomfare Gaming Entertainment no.1 source in, Gaming news, Video Games & related Events E3, Gamecon and more, eSports event news and releases gaming technologies.

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