Cleanspark Inc Stock Price, News & Analysis

CleanSpark Inc. (Nasdaq: CLSK) will host a live webcast to discuss its fiscal third-quarter 2022 financial results on August 9, 2022, at 4:30 p.m. ET. The results will be publicly released after market close on the same day. CleanSpark focuses on sustainable bitcoin mining and energy independence, utilizing low-carbon energy sources. The company has been recognized as one of Forbes' Best Small Companies and ranked on the Financial Times' Fastest Growing Companies list. More details are available via their investor relations webpage.

CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 1,061 Whatsminer M30S machines, boosting its bitcoin mining capacity by approximately 93 petahashes per second (PH/s). The machines are operational at Coinmint’s renewable-powered facility. CEO Zach Bradford noted the company's strategic hybrid approach to mining is well-positioned for market growth. This deal follows a prior bulk purchase of 1,800 Antminer S19 XP units. Over the past six months, CleanSpark's computing power increased by 47%, and monthly bitcoin production grew by 50%.

CleanSpark reports robust bitcoin mining performance with a record production of 12.1 BTC per day as of June 2022, a 12% month-over-month increase in hashrate. For the year-to-date, the company produced 1863 BTC and currently holds 561 BTC. Proceeds from the sale of 328 BTC in June, averaging $25,644 per BTC, amounted to approximately $8.4 million. CleanSpark also successfully exited its switchgear business, enhancing its focus and liquidity for bitcoin mining operations.

CleanSpark, Inc. (Nasdaq: CLSK) will present at Bank of America's Web3 & Digital Assets Day on June 23, 2022, in New York City. The event is exclusive to BofA's top clients and features leaders from notable digital asset companies. CleanSpark's CEO, Zach Bradford, will participate in a panel alongside other mining industry executives. As interest in bitcoin mining and sustainable energy solutions grows, the company emphasizes its commitment to clean energy practices and sustainability in the evolving digital assets landscape.

CleanSpark has acquired 1,800 Antminer S19 XP units, enhancing its bitcoin mining capacity by over 252 petahashes per second (PH/s). This strategic move is part of an existing purchase contract alongside a partnership with TMGcore Inc. for advanced immersion-cooling infrastructure. The miners are expected to arrive starting in August 2022, with shipping extending over six months. CEO Zach Bradford highlighted that the contract was secured at a discounted price due to market conditions and strategic relationships, aiming to maximize shareholder value.

CleanSpark, Inc. (Nasdaq: CLSK) announced a 23% increase in its bitcoin holdings as of May 31, 2022, reaching a total of 550 BTC. For May, the company produced 312 BTC, bringing the year-to-date total to 1,523 BTC. CleanSpark funded its growth by selling 210 BTC at an average price of $32,639 per BTC, resulting in proceeds of approximately $6.9 million. The company operates over 25,000 miners with a hashrate exceeding 2.5 EH/s, indicating robust operational capacity.

CleanSpark, Inc. (CLSK) reported Q2 2022 revenues of $41.6 million, up 4x from $8.1 million a year prior. Despite a net loss of $(0.17) million, the company's Adjusted EBITDA rose significantly to $22.5 million, though it decreased 7.2% from Q1. The company cites ongoing operational and financial execution, including a recent agreement with Lancium to secure 600MW of power. CleanSpark's capital strategy remains resilient, fully funding growth capex through bitcoin conversion without utilizing shelf offerings since November.

CleanSpark, a sustainable bitcoin mining and energy technology company, reported its bitcoin production update for April 2022. The company produced 313 bitcoins in April, totaling 1,211 BTC year-to-date as of April 30. They currently hold 448 BTC and converted 285 BTC to fund operations, yielding approximately $11.9 million in proceeds. The firm operates over 24,000 miners with a hashrate of 2.4 EH/s, with installations ongoing at its facilities in Norcross, College Park, and Coinmint.

CleanSpark Inc. (CLSK) is set to announce its second quarter financial results for FY2022 on May 10, following the U.S. market close. The earnings report will be followed by an investor conference call scheduled for 4:30 p.m. EST. Investors can access the conference via a webcast available on the company’s investor relations page. Details regarding downloadable files, including transcripts, will be available within 48 hours post-event. CleanSpark specializes in sustainable bitcoin mining and energy technology.