Cleanspark, Inc. ( (CLSK) ) has released its Q4 earnings. Here is a breakdown of the information Cleanspark, Inc. presented to its investors.
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CleanSpark, Inc., known as America’s Bitcoin Miner®, is a leading pure-play Bitcoin mining company that operates a portfolio of mining facilities across the United States, leveraging competitive energy prices to optimize performance and shareholder returns.
CleanSpark has reported its fiscal year 2024 financial results, showcasing a significant increase in revenue and operational metrics. The company achieved a 125% year-over-year revenue growth, reaching $378.9 million, despite challenges like the Bitcoin halving event and increased mining difficulty.
Key highlights from the report include a remarkable increase in their current hashrate, now surpassing 33.5 EH/s with plans to reach 37 EH/s by year-end. The strategic focus on owned infrastructure and organic growth paired with mergers and acquisitions has expanded their operating portfolio to 726 MW. CleanSpark’s adjusted EBITDA for 2024 was $245.8 million, reflecting a strong financial performance despite a net loss of $145.8 million.
Going forward, CleanSpark is well-positioned with a healthy balance sheet and robust liquidity, enabling the company to pursue diverse capital-raising strategies. As they move into FY 2025, the company aims to capitalize on growth opportunities and continue scaling operations to enhance shareholder value.