![]() CleanSpark is a Forbes 2022 America's Best Small Company and holds the 44th spot on the Financial Times' List of the 500 Fastest Growing Companies in the Americas. We cultivate trust and transparency among our employees, the communities we operate in, and the people around the world who depend on Bitcoin. We strive to leave the planet better than we found it by sourcing and investing in low-carbon energy, like wind, solar, nuclear, and hydro. In 2020, we began applying that expertise to develop sustainable infrastructure for Bitcoin, an essential tool for financial independence and inclusion. Since 2014, we've helped people achieve energy independence for their homes and businesses. The webcast will be accessible for at least 30 days on the Company's website and a transcript of the call will be available on the Company's website following the call.ĬleanSpark (NASDAQ: CLSK) is America's Bitcoin Miner™. The Company will hold its third quarter 2022 earnings presentation and business update for investors and analysts today, August 9, 2022, at 1:30p.m. The Company had working capital of $9.5 million and $18.3 million of debt as of June 30, 2022. Total Stockholders' Equity: $376.9 million Total Mining assets (including prepaid deposits & deployed miners): $357.4 million In connection with the reclassification of its energy business as discontinued operations, CleanSpark has recorded an impairment charge of ($10.6) million, which is included in the line item "loss from discontinued operations" in the consolidated statements of operations and comprehensive loss.īalance Sheet Highlights as of June 30, 2022 Adjusted EBITDA was $15.2 million, decreasing 30% from $21.6 million in the second quarter. ![]() Net loss for the third quarter was $(29.3) million, increasing $29.1 million from the second quarter net loss of $(0.2). Revenues decreased $6.2 million, or 17%, from the second quarter. The Company also saw sequential revenues decrease in the third quarter compared to the previous quarter. The Company recognized a net loss for the three months ended June 30, 2022, of $(29.3) million increased 76% compared to $(16.7) million for the same prior year period.Īdjusted EBITDA increased to $15.2 million, reversing negative Adjusted EBITDA of $(1.7) million from the same prior year period. Revenues for the quarter grew to $31.0 million, an increase of 22.0 million, or 243%, from $9.0 million for the same prior year period. Furthermore, our decision to divest energy assets will allow us to focus our time, people, and resources on our core business." These are great margins and why we are in the bitcoin mining business. "Our Adjusted EBITDA for the third quarter was approximately $15 million, which represents margins on revenue of 49%. "The importance of our Adjusted EBITDA margins is not to be overlooked," said Gary A. ![]() These two announcements represent the closing of one chapter and the opening of another, and I look forward to where our strategic direction is taking us." We are also announcing that CleanSpark is formally selling its energy business assets. An additional 50MW is expected to be available in 2023. This new facility has 86MW of total capacity, 36MW of which is online and available immediately. Foremost, we have entered into an asset purchase agreement for the acquisition of a third wholly owned facility, located in Washington, GA. ![]() Despite macroeconomic headwinds, our results demonstrate the resiliency of our strategy, and we expect to grow in what is otherwise a bear market."īradford continued: "In line with our strategy to make CleanSpark a top five publicly traded miner, today we announced two transformative matters. We have also made efficient use of our capital by putting new miner purchases to work quickly. "We are optimizing uptime and maximizing profits with our wholly owned locations. "CleanSpark continued to grow by mining a record number of bitcoin and substantially increasing our hashrate," said Zach Bradford, Chief Executive Officer. (Nasdaq: CLSK) (the "Company"), America's Bitcoin Miner™, today reported financial results for the three and nine months ended June 30, 2022. Third quarter revenue of $ 31.0 million, net GAAP loss of $(29.3) million and Adjusted EBITDA of $15.2 million Mined 964 Bitcoin and Increased Hashrate by 22% Increases 2023 Year-end Hashrate Guidance to 22.4 EH/s
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |