CleanSpark reported a 125% increase in revenue to $378.97 million for the fiscal year ending September 30, 2024, driven by higher bitcoin prices and increased mining capacity. The company mined 7,092 bitcoins, with an average price of $53,435, compared to 6,903 bitcoins at $24,355 the previous year. Operating costs rose due to energy expenses, but the average cost per KWH decreased slightly.Management highlighted the expansion of mining operations, with a significant increase in the number of miners to 188,500, boosting the hashrate to 31.5 EH/s. The acquisition of GRIID Infrastructure and strategic site developments in Wyoming and Mississippi are expected to further enhance capacity. The company adopted ASC 350-60, impacting bitcoin valuation and earnings.Risks include bitcoin price volatility and energy cost fluctuations. CleanSpark plans to continue expanding its infrastructure and exploring strategic acquisitions. The company maintains a strong liquidity position with $705.43 million in current assets, supporting future growth and operational needs.

CleanSpark reported a 125% increase in revenue to $378.97 million for the fiscal year ending September 30, 2024, driven by higher bitcoin prices and increased mining capacity. The company mined 7,092 bitcoins, with an average price of $53,435, compared to 6,903 bitcoins at $24,355 the previous year. Operating costs rose due to energy expenses, but the average cost per KWH decreased slightly.Management highlighted the expansion of mining operations, with a significant increase in the number of miners to 188,500, boosting the hashrate to 31.5 EH/s. The acquisition of GRIID Infrastructure and strategic site developments in Wyoming and Mississippi are expected to further enhance capacity. The company adopted ASC 350-60, impacting bitcoin valuation and earnings.Risks include bitcoin price volatility and energy cost fluctuations. CleanSpark plans to continue expanding its infrastructure and exploring strategic acquisitions. The company maintains a strong liquidity position with $705.43 million in current assets, supporting future growth and operational needs.