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CleanSpark | 8-K: CleanSpark Reports First Quarter FY2024 Financial Results

SEC announcement ·  Feb 9 05:19
Summary by Futu AI
On February 8, 2024, CleanSpark, Inc., a Nevada-based company listed on the Nasdaq Stock Market under the symbol CLSK, reported its financial results for the fiscal quarter ending December 31, 2023. The company announced a significant increase in revenue, which rose to $73.8 million, marking a 165% increase from the previous year's same quarter. Net income for the quarter was reported at $25.9 million, or $0.14 per basic share, a substantial improvement from the prior year's loss of $29.0 million, or a $0.46 loss per share. Adjusted EBITDA also saw a dramatic increase to $69.1 million, compared to a negative $2.0 million in the same quarter of the previous year. CleanSpark's balance sheet as of December 31, 2023, showed $48.5 million in cash, $127.0 million in Bitcoin holdings, and total assets amounting...Show More
On February 8, 2024, CleanSpark, Inc., a Nevada-based company listed on the Nasdaq Stock Market under the symbol CLSK, reported its financial results for the fiscal quarter ending December 31, 2023. The company announced a significant increase in revenue, which rose to $73.8 million, marking a 165% increase from the previous year's same quarter. Net income for the quarter was reported at $25.9 million, or $0.14 per basic share, a substantial improvement from the prior year's loss of $29.0 million, or a $0.46 loss per share. Adjusted EBITDA also saw a dramatic increase to $69.1 million, compared to a negative $2.0 million in the same quarter of the previous year. CleanSpark's balance sheet as of December 31, 2023, showed $48.5 million in cash, $127.0 million in Bitcoin holdings, and total assets amounting to $862.7 million. The company's liabilities totaled $52.2 million, with stockholders' equity at $810.6 million. The company's working capital stood at $139.3 million, with a debt of $14.5 million. CleanSpark's CEO, Zach Bradford, highlighted the quarter's performance as a testament to the company's efficiency, strategic acquisitions, and commitment to growth, with the CFO, Gary A. Vecchiarelli, emphasizing the company's strong position ahead of the Bitcoin halving event. An investor conference call and webcast were held on the same day to discuss the earnings and provide a business update.

This announcement is a separate document:

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