CleanSpark reports FY23 EPS ($1.29), consensus (77c)

Reports FY23 revenue $168.4M, consensus $169.8M. FY23 adjusted EBITDA decreased to $25.0M, a decrease of $31.1M or (55)% from $56.1M in the prior year. “This past fiscal year has been one of substantial growth and success for CleanSpark. We’ve not only met but exceeded many of our strategic aims and I’m proud to share these accomplishments with you,” said Zach Bradford, CEO. “We posted revenue of over $168 million, a significant increase over the last fiscal year. We expect to continue this trajectory and are optimistic about revenue growth next year, even as we prepare for the halving. Operationally, our hashrate growth year-over-year has been exceptional, highlighting our commitment to not just growing but also scaling efficiently. We achieved a remarkable milestone this year by surpassing a total hashrate of 10 exahashes per second, and that hashrate is among the most efficient in the industry. I’m also proud to note that we’ve kept pace with the Bitcoin network’s soaring hashrate; the results of our efforts were a record 6,903 bitcoin mined for the fiscal year, almost doubling what we mined last year. Topping it off, we are entering the new year with the strongest balance sheet in our history. We believe we are the best bitcoin mining operators in the industry and are well-served by our strategy of owning and operating our own infrastructure.”