![]() The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for growth in the Company's bitcoin holdings and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. ![]() For more information about CleanSpark, please visit our website at. CleanSpark holds the 44th spot on the Financial Times' 2022 List of the 500 Fastest Growing Companies in the Americas and ranks thirteenth on Deloitte's Fast 500. 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 transitioned 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 2023 earnings presentation and business update for investors and analysts today, August 9, 2023, at 1:30 p.m. *See "Non-GAAP Measure" and "Reconciliation of Adjusted EBITDA" below. The Company's debt totaled $17.8 million at June 30, 2023. ![]() The Company's liquidity, in cash and bitcoin, was approximately $35.7 million as of June 30, 2023. Total Stockholders' Equity: $603.6 million. ![]() Total Mining Assets (including prepaid deposits & miners, net of accumulated depreciation): $441.8 million.The Adjusted EBITDA of $13.3 million in the third quarter represented an increase of $600 thousand or 5% compared to $12.7 million in the preceding second quarter.īalance Sheet Highlights as of June 30, 2023 The net loss of $14.2 million for the third quarter represented a $4.3 million improvement over the second quarter net loss of $18.5 million. Revenues increased $3 million, or 7%, from the preceding second quarter. The Company saw sequential revenues increase in the third quarter of fiscal 2023 compared to the fiscal quarter ended March 31, 2022.Adjusted EBITDA* increased to $13.3 million, compared to Adjusted EBITDA of $5.1 million from the same prior year period.The Company recognized a net loss for the three months ended June 30, 2023, of $(14.2) million, compared to a net loss of $(29.3) million for the same prior year period.Revenues for the quarter were $45.5 million, an increase of $14.5 million, or 47%, from $31.0 million for the same prior year period.We have all the pieces in place, from people to capital, to extend our strong track record of growth and operational excellence."įinancial Results for the Three Months Ended June 30, 2023 "From my perspective, I really like the flexibility of our balance sheet and our operational performance. "Creating certainty is an important part of our strategy, and today we have more than sufficient capital to fund our remaining contractual payments on miners and construction to achieve our 16 EH/s goal," said Gary Vecchiarelli, CFO. We continue to build on our longstanding track record of executing on our commitments, and I'm proud to say that this is a truly best-in-class team." We have over $90 million in cash and almost 1,200 bitcoins on our balance sheet as of today. That growth is translating to record-setting revenue. "We now operate over 9 EH/s of efficient computing power at some of the industry's best all-in electric rates. "We have fully funded our growth to 16 EH/s, including miners, facilities, and other infrastructure, on top of a record-breaking quarter in terms of growth and revenue," said Zach Bradford, CEO. "We have fully funded our growth to 16 EH/s," said Zach Bradford, CEO.
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