Cleanspark Inc Stock Price, News & Analysis

CleanSpark (CLSK) reported strong financial results for Q1 FY2025, with quarterly revenue reaching $162.3 million, up 120% year-over-year. The company achieved a net income of $246.8 million with basic EPS of $0.85, compared to $25.9 million and $0.14 EPS in the prior year.

Key operational highlights include reaching over 40 EH/s in January, with fleet efficiency improving to 16.15 J/Th. The marginal cost per bitcoin decreased 6% to approximately $34,000 at owned facilities. The company's bitcoin treasury grew to over 10,500 coins, all self-mined in the USA.

Financial position strengthened with $2.8 billion in total assets, including $276.6 million in cash and $929.1 million in bitcoin. The company secured a $650 million convertible bond and maintains $1.2 billion in total liquidity. CleanSpark is progressing toward its goal of 50 EH/s in the first half of 2025 through expansion projects in Wyoming, Tennessee, and Georgia.

CleanSpark (NASDAQ: CLSK) has released its unaudited bitcoin mining update for January 2025, reporting significant operational achievements. The company mined 626 bitcoin during the month and surpassed 40 EH/s in operating hashrate, with an 8% improvement in fleet efficiency month over month.

The company's bitcoin holdings reached 10,556 as of January 31, with only 22.47 bitcoin sold during the month at an average price of $100,412. Despite weather-related challenges that required power curtailment, CleanSpark maintained operations through its regional portfolio strategy.

Construction continues in Tennessee, Georgia, and Wyoming facilities. The new Twin City, Georgia site (12 MW) is nearly operational with 0.7 EH/s, while the Cheyenne, Wyoming immersion facility is on track for completion this quarter, expected to add 5 EH/s using S21 XP Immersion machines.

CleanSpark (Nasdaq: CLSK) has announced it will host a live webcast to discuss its fiscal first quarter 2025 financial results on Thursday, February 6, 2025, at 4:30 p.m. EST / 1:30 p.m. PST. The company will make downloadable files, including transcripts, available on their website within 48 hours after the event.

CleanSpark (CLSK) has achieved a significant milestone by accumulating over 10,097 bitcoin in its treasury, all self-mined from U.S.-based operations. The company reported a remarkable 236% year-over-year increase in its bitcoin holdings, demonstrating substantial growth in a dynamic market environment.

The achievement marks significant progress since the company mined its first bitcoin in December 2021. CleanSpark's strategy focuses on avoiding unfavorable counterparty exposure and leveraging bitcoin to lower capital costs, emphasizing sustainable growth and operational excellence in the U.S. bitcoin mining sector.

CleanSpark (CLSK) released its December 2024 bitcoin mining update, reporting 668 bitcoin mined in December and a total of 7,024 bitcoin produced in 2024. The company achieved significant growth with a 287.9% hashrate increase and 33.3% efficiency improvement year over year, reaching 39.1 EH/s operating hashrate by year-end.

Key operational highlights include a $650 million zero-coupon convertible notes offering, expansion into three new states, and completion of multiple site expansions. The company's bitcoin holdings stood at 9,952 as of December 31, with only 12.65 bitcoin sold during December at an average price of $101,246.

Notable developments include fully operational facilities in Clinton, Mississippi (1 EH/s), progress in Jackson, Tennessee (projected 3.7 EH/s), and advancement in Cheyenne, Wyoming (expected 5 EH/s). The company aims to achieve 50 EH/s by mid-2025.

CleanSpark (CLSK) has surpassed its 2024 year-end target by achieving 37.5 EH/s in operating hashrate with a fleet efficiency of 17.7 J/Th. The company has energized new data centers in Tennessee and Wyoming as part of a multistage process. Following a recent $650 million zero-coupon convertible bond offering, CleanSpark has accelerated its 50 EH/s target to the first half of 2025. The expansion will be funded through greenfield development, organic growth, and strategic M&A.

The company's hashrate has expanded nearly 300% since early 2024, with operations across Georgia, Wyoming, Tennessee, Mississippi, and New York. CleanSpark's bitcoin treasury is approaching 10,000 bitcoin, all self-mined, demonstrating strong operational performance.

CleanSpark (CLSK) has completed its previously announced $650 million offering of 0.00% Convertible Senior Notes due 2030, including the full exercise of a $100 million option by initial purchasers. The company implemented capped call transactions with a cap price of $24.66 per share and repurchased 11.76 million shares for approximately $145 million.

The net proceeds of approximately $633.6 million will be used for capital expenditures, potential acquisitions, and general corporate purposes. About $90.4 million was allocated to capped call transactions, and $145.0 million for share repurchases. The company plans to use the funds to support growth to 50 EH/s and continue adding mined bitcoin to its balance sheet.

CleanSpark (CLSK) has announced the pricing of $550 million in 0.00% Convertible Senior Notes due 2030. The notes will be sold to qualified institutional buyers under Rule 144A. The conversion price is set at $14.80 per share, representing a 20% premium to the closing price of $12.33.

The company plans to use the net proceeds of approximately $535.9 million for: $76.5 million for capped call transactions, $145 million for share repurchases from note investors, and the remainder for debt repayment, capital expenditures, acquisitions, and general corporate purposes. The notes include capped call transactions with an initial cap price of $24.66 per share, representing a 100% premium to the current stock price.

CleanSpark (CLSK) has announced plans to offer $550 million in convertible senior notes due 2030, with an option for initial purchasers to buy an additional $100 million. The notes will be offered privately to qualified institutional buyers under Rule 144A.

The company plans to use the proceeds to fund capped call transactions, repurchase up to $125 million of common stock, repay Coinbase credit line, and for capital expenditures and acquisitions. The notes will be senior unsecured obligations, bearing no regular interest, and will be convertible into cash, common stock, or a combination thereof at CleanSpark's election.

The conversion terms will be determined during pricing negotiations. CleanSpark will enter into capped call transactions to reduce potential dilution and offset cash payments above principal amount upon conversion.