Mines 622 bitcoin and achieves daily production high of over 21 bitcoinIncreases hashrate and efficiency month over month by over 7% and 6% respectivelyLAS VEGAS, Dec. 3, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today released its unaudited bitcoin mining and operations update for the month ending November 30, 2024."Our teams have been relentlessly executing, making progress towards our year-end hashrate goal of 37 EH/s while improving our efficiency," s ...

Bitcoin miner CleanSpark (NASDAQ: CLSK ) posted fourth quarter earnings on Monday night, and the stock is off about 6% pre-market following the report. The last time I covered CleanSpark was in earlyJosh is the leader of the investing group Timely Trader where he focuses on limiting risk and maximizing potential reward. Features of Timely Trader include: real-time alerts, a model portfolio, technical charts, sentiment indicators, and sector analysis to find the best trading opportunities. Learn more.Josh Ar ...

The stock market had been running behind the massive rally in shares of MicroStrategy Inc. NASDAQ: MSTR, especially as it had become common knowledge that the company’s Bitcoin holdings would bring its valuation to new highs when and if the cryptocurrency markets rallied higher. However, that euphoria was soon met with a new reality. Investors began scrutinizing how MicroStrategy acquired Bitcoin, noting it wasn’t the cleanest approach, with shareholder dilution and increased leverage funding the purchases. ...

Financial Data and Key Metrics - Revenue for the fiscal year 2024 was $378.9 million, a 125% increase from $164.8 million in the previous year [7] - Adjusted EBITDA for the year was $245.8 million, an 882% increase from $25 million in 2023 [8] - Gross profit for the year was $213.5 million, a 185% increase from the prior year [32] - GAAP net loss for the year was $145.8 million, largely due to a non-cash impairment expense of $197 million [33] - Bitcoin production for the year was approximately 7,100 Bitcoins, compared to 6,900 Bitcoins in fiscal year 2023 [31] Business Line Data and Key Metrics - The company's operational hash rate reached 33.5 exahash per second, up from 9.6 exahash per second the previous year [14] - The company added over 425 megawatts to its operational power capacity, bringing the total portfolio to over 726 megawatts [14] - The current fleet efficiency stands at 19 joules per terahash, significantly lower than the fleet average of 28.4 joules per terahash from September of last year [17] Market Data and Key Metrics - The company has a geographically diverse portfolio of mining assets in Georgia, Wyoming, Tennessee, Mississippi, and New York [13] - The company's all-in power costs for fiscal year 2024 were $0.046 per kilowatt hour, lower than $0.048 per kilowatt hour in fiscal 2023 [34] - The average cost to mine Bitcoin in 2024 was approximately $21,400 for wholly-owned facilities [35] Company Strategy and Industry Competition - The company remains committed to Bitcoin mining as a vertically integrated pure play operation, contrasting with competitors diversifying into AI and high-performance computing [24] - The company's growth strategy includes greenfield development, organic expansion, and opportunistic acquisitions [11][18] - The company aims to achieve 50 exahash per second in 2025 and is focused on increasing installed hash rate and boosting monthly Bitcoin production [26][27] Management Commentary on Operating Environment and Future Outlook - The company is well-positioned to capitalize on the current bull market and expects to exceed 1 gigawatt of contracted capacity across its portfolio in 2025 [14][27] - The company anticipates a friendlier regulatory environment and increased capital market opportunities following the recent presidential election [57] - The company is focused on operational efficiency, driving strong margins, and consistent performance [26] Other Important Information - The company closed the acquisition of grid infrastructure in October, which included 68 megawatts of developed infrastructure in Tennessee and over 400 megawatts of identified upside expansion opportunity [21] - The company renewed its insurance policy in November, cutting the comparable rate by 25% [39] - The company has approximately $121 million in cash and is rapidly approaching 10,000 Bitcoin in holdings, representing almost $1 billion at current Bitcoin prices [40] Q&A Session Summary Question: Why have miners lagged Bitcoin this year? - The company believes that miners, including itself, have meaningfully outperformed Bitcoin over a two-year period and expects another upswing as the market better understands the miners' capabilities [49] Question: How is the company approaching the ASIC market? - The company has locked in price certainty for ASICs through 63 exahash and has the ability to take down additional units with price certainty [50][51] Question: What are the paths to generate yield on Bitcoin holdings? - The company is exploring strategies such as providing covered calls, lending Bitcoin, and providing liquidity to ETFs [56] Question: What trends are expected to drive mining in 2025? - The company expects a friendlier regulatory environment, increased capital market opportunities, and continued focus on scale and efficiency [57][58] Question: How is the company prioritizing build versus buy decisions? - The company is focusing more on building hardened immersion-cooled infrastructure in rural areas and may consider air-cooled infrastructure for acquisitions [66][67] Question: What is the outlook for fleet efficiency? - The company expects incremental improvements in fleet efficiency and believes immersion cooling will play a key role in keeping up with efficiency advancements [70][72] Question: What are the expectations for CapEx in 2025? - The company expects to invest roughly $200 million in infrastructure and has secured advantageous prices for miners [77] Question: What is the company's view on buying Bitcoin outright? - The company believes the best use of capital is buying or building facilities that produce Bitcoin, but it is not opposed to buying Bitcoin for strategic reasons [93][94]

CleanSpark � FY2024 Fourth Quarter Earnings Call CleanSpark is America's Bitcoin Miner® Safe Harbor Statement This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for growth and the Company's bitcoin holdings and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words su ...

Revenue Growth - Revenue grew 125% year over year to $378.9 million in FY 2024[1][5] - Bitcoin mining revenue increased to $378,968K in 2024, up 125.4% from $168,121K in 2023[19] - Total revenues rose to $378,968K in 2024, a 125.1% increase from $168,408K in 2023[19] Hashrate and Bitcoin Production - Current hashrate surpassed 33.5 EH/s, on track to reach 37 EH/s by year-end[1] - Company produced approximately 7,100 BTC in FY 2024[3] - Company aims to reach 50 EH/s and beyond in 2025[2] Financial Performance - Adjusted EBITDA increased to $245.8 million, up from $25.0 million in the prior fiscal year[6] - Net loss for FY 2024 was ($145.8) million, compared to ($138.1) million in the prior year[5] - Adjusted EBITDA improved significantly to $245,848K in 2024, up 882.5% from $25,028K in 2023[22] - Net loss attributable to common shareholders widened to $149,199K in 2024, up 8.0% from $138,148K in 2023[19] Assets and Holdings - Total assets reached $2.0 billion as of September 30, 2024[6] - Bitcoin holdings valued at $509.5 million, including 8,049 BTC at $63,301 per BTC[6] - Total current assets stood at $705.4 million as of September 30, 2024[6] Operating Portfolio Expansion - Operating portfolio expanded to 726 MW, adding 423 MW in FY 2024[2] Expenses and Impairment - Cost of revenues (excluding depreciation and amortization) grew to $165,516K in 2024, up 76.9% from $93,580K in 2023[19] - Impairment expense for fixed assets surged to $197,041K in 2024, compared to $0 in 2023[19] - Depreciation and amortization expenses increased to $154,609K in 2024, up 28.1% from $120,728K in 2023[19] Shareholder Metrics - Weighted average common shares outstanding - basic expanded to 216,860,819 in 2024, a 111.2% increase from 102,707,509 in 2023[20]

Revenue grows 125% year over year Current hashrate surpasses 33.5 EH/s on track for 37 EH/sLAS VEGAS, Dec. 2, 2024 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), America's Bitcoin Miner®, today reported financial results for the fiscal year ended September 30, 2024."Our performance this year reflects a sustained growth trajectory, solidifying our position as one of the top Bitcoin miners in the world, as we move into an anticipated new bull market," said CleanSpark CEO Zach Bradford. "Refl ...

Wall Street expects Bitcoin miner CleanSpark Inc CLSK to report a loss of 18 cents per share and $88.65 million in revenues when it posts fourth-quarter earnings after market hours on Monday.The company’s stock is up 61.78% over the past year, and 46.43% over the past month.Let’s look at what the charts indicate for CleanSpark stock and how the stock currently maps against Wall Street estimates.Read Also: As Bitcoin Surges, Coinbase Exec Expects Swift Legislation Thanks To Trump And The ‘Most Pro-Crypto Con ...

LAS VEGAS, Nov. 29, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner®, will discuss its fiscal full year 2024 financial results via a live webcast beginning at 4:30 p.m. EST/ 1:30 p.m. PST on Monday, December 2, 2024. Results will be released after the close of regular trading on December 2, 2024.Webcast Information: To view the webcast, please click here.Downloadable files, including transcripts, will be available on the company website 48 hours after the event.About CleanSparkC ...

CleanSpark (NASDAQ: CLSK ) is one of the many bitcoin miners that should have seen major appreciation in its stock value as Bitcoin almost reached a new high of $100,000. The stock price is up nearly 40% year to date; however, it has been tepid recentlyI am an environmental economist and a financial market enthusiast. My main investment interests include renewables, electric vehicles, software as a service, AI, and cryptocurrency. I enjoy investing in companies that are small or mid-caps with high potential ...