The company’s adjusted EBITDA (profits before interest, taxes, depreciation, and amortization) fell to $1.4 million.ĭespite the upbeat outlook, the company’s stock (CLSK) plummeted 5.2% in after-hours trade to $3.13. Revenue, on the other hand, had dropped 25% from the same period last year, to $27.8 million. A new 50-megawatt Bitcoin mining plant in Washington, DC, is set to open in late spring.ĬleanSpark reported 1,531 BTC mined during the fiscal Q1 profit period, a 132% increase over the same period the previous year. These expansion plans were continued by the corporation in early 2023.ĬleanSpark stated in January that it was extending its operations in Georgia. Thousands more Bitcoin miners were also purchased at a “significantly discounted price” by the corporation in June and July. CleanSpark is a top publicly traded Bitcoin mining company under the NASDAQ ticker CLSK. The article by Jessica Nix of Forbes included takeaways from multiple CleanSpark executives and a Chardan analyst. Months earlier, in September, the company paid $33 million for Mawson’s Bitcoin mining facility in Sandersville, Georgia, as well as $16.2 million for a 36-megawatt facility in the same state. Our stock price spiked this week after the news of our fully funded bitcoin mining expansion was released. Last November, the company purchased around 3,840 Antminer S19J Pro mining rigs at below-market costs. Our cleanSPARK arrestor boxes reduce the risk of fire in the bag filter by knocking out material which is alight in the airstream before it can enter the dust. As a result, the corporation hopes to be able to “take off infrastructure and assets at excellent deals,” as it has done in the past. (Nasdaq: CLSK) (the 'Company' or 'CleanSpark. 03, 2022 (GLOBE NEWSWIRE) - CleanSpark Inc. Smaller mining operations, he warned, could face difficulties. Company mined a record 532 bitcoin in October, up 19 from September. ![]() But, of course, if we find a good bargain, we’ll take advantage of it.” “We are still buyers in this market, and our strategy has not altered,” he noted, before noting that “we don’t feel obliged to go out and have to execute M&A. “With respect to our strategy regarding M&A, we have been one of the most active miners to date in acquiring infrastructure and machines, and we will continue to be active.” ![]() He stated that its expansion would continue through mergers and acquisitions until 2023. ![]() On February 9, the Bitcoin miner presented its fiscal Q1 earnings presentation, stating that it remains enthusiastic about the coming year and sustained expansion.ĬleanSpark’s chief financial officer Gary Vecchiarelli stated that the company has had “rapid growth” in the last year and is confident in its future ambitions. The mining company is unconcerned about the downturn and intends to “take off infrastructure and assets at attractive deals” this year.ĬleanSpark, a Bitcoin mining firm, intends to continue its approach of acquiring distressed mining company assets this year.
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