![]() This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For more information about CleanSpark, please visit our website at Forward-Looking Statements CleanSpark holds the 44th spot on the Financial Times' 2022 List of the 500 Fastest Growing Companies in the Americas and ranks thirteenth on Deloitte's Fast 500. We cultivate trust and transparency among our employees, the communities we operate in, and the people around the world who depend on Bitcoin. We strive to leave the planet better than we found it by sourcing and investing in low-carbon energy, like wind, solar, nuclear, and hydro. In 2020, we transitioned that expertise to develop sustainable infrastructure for Bitcoin, an essential tool for financial independence and inclusion. Since 2014, we've helped people achieve energy independence for their homes and businesses. The webcast will be accessible for at least 30 days on the Company's website and a transcript of the call will be available on the Company's website following the call.ĬleanSpark (NASDAQ: CLSK) is America's Bitcoin Miner. The Company will hold its first quarter 2023 earnings presentation and business update for investors and analysts today, February 9, 2023, at 1:30p.m. The Company's debt totaled $19.6 million at December 31, 2022, as the Company paid down $1.6 million or approximately 8% of its outstanding debt in the fourth quarter. The Company's liquidity, in cash and bitcoin, was approximately $6.0m as of December 31, 2022. Total Stockholders' Equity: $427.0 million.Total Mining assets(including prepaid deposits & miners, net of accumulated depreciation): $349.0 million.Bitcoin: $3.9 million (based upon a per bitcoin price of approximately $17,000 at December 31, 2022).Adjusted EBITDA was ($1.4) million, compared to $2.9 million in the preceding fourth quarter.īalance Sheet Highlights as of December 31, 2022 Net loss for the first quarter was ($29.0) million, decreasing $13.3 million from the fiscal 2022 fourth quarter net loss of ($42.3) million. Revenues increased $1.6 million, or 6%, from the preceding fourth quarter. The Company saw sequential revenues increase in the first quarter of fiscal 2023 compared to the fiscal quarter ended September 30, 2022.Adjusted EBITDA* decreased to ($1.4) million, compared to Adjusted EBITDA of $25.1 million from the same prior year period.The Company recognized a net loss for the three months ended December 31, 2022, of $(29.0) million, compared to net income of $14.5 million for the same prior year period.Revenues for the quarter were $27.8 million, a decrease of $9.3 million, or 25%, from $37.1 million for the same prior year period.Despite recent macro headwinds in our first quarter, we are excited for 2023 as a year of continued execution and growth."įinancial Results for the Three Months Ended December 31, 2022 We have been successful in sourcing and closing transactions which not only grow our percentage of the total global hash rate, but also produce meaningful bitcoin and cash flow while still paying down what little debt we have. "We have been thoughtful and calculated buyers in this market, seeking out accretive acquisitions and efficiently deploying capital. Not only did we achieve that goal rather quickly, but we have also set the tone for other miners about what a proper and prudent business model looks like in this industry," said Chief Financial Officer Gary A. ![]() "Exactly one year ago we shared our vision and strategy for being a top five miner. We are starting to see all the hard work we put in during our last quarter pay off and we expect to continue to deliver on our goals as we work toward our calendar year end guidance of 16 EH/s." Last month we had our highest monthly production ever, at nearly 700 bitcoins. "While we faced headwinds due to depressed bitcoin prices during most of our fiscal first quarter, we persisted and grew. Our average hashrate rapidly increased, outpacing global hashrate, and we mined the most bitcoin ever in a single quarter. "We have reliably grown, quarter over quarter, as we execute an operational strategy that we believe makes us one of the fastest growing, most reliable, and most efficient publicly traded bitcoin miners in North America," said Chief Executive Officer Zach Bradford. We believe we are one of the most reliable, efficient, and fastest growing public bitcoin miners in North America.
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