CleanSpark reported strong financial results for fiscal year 2024, with revenue soaring 125% to $379 million from $168.1 million in FY2023. The company mined 7,092 bitcoins during the year, a 3% increase from 6,903 bitcoins in the previous year, while expanding its hashrate to 27.6 EH/s. However, the company recorded a net loss of $145.8 million, primarily due to a $197 million impairment charge on mining equipment.The company significantly expanded its mining infrastructure in FY2024, acquiring multiple facilities across Georgia, Tennessee, Mississippi, and Wyoming. Total assets grew to $1.96 billion, with $705.4 million in current assets including $121.2 million in cash and $431.7 million in bitcoin holdings. The company maintained a strong liquidity position through its ATM offering program, raising approximately $1.23 billion during the year.Looking ahead, CleanSpark continues to execute its growth strategy with planned developments of 75 MW in Wyoming and 16.5 MW in Mississippi. The company completed its acquisition of GRIID Infrastructure in October 2024, further expanding its mining capacity. Management remains focused on operational efficiency and strategic growth while addressing identified material weaknesses in internal controls.

CleanSpark reported strong financial results for fiscal year 2024, with revenue soaring 125% to $379 million from $168.1 million in FY2023. The company mined 7,092 bitcoins during the year, a 3% increase from 6,903 bitcoins in the previous year, while expanding its hashrate to 27.6 EH/s. However, the company recorded a net loss of $145.8 million, primarily due to a $197 million impairment charge on mining equipment.The company significantly expanded its mining infrastructure in FY2024, acquiring multiple facilities across Georgia, Tennessee, Mississippi, and Wyoming. Total assets grew to $1.96 billion, with $705.4 million in current assets including $121.2 million in cash and $431.7 million in bitcoin holdings. The company maintained a strong liquidity position through its ATM offering program, raising approximately $1.23 billion during the year.Looking ahead, CleanSpark continues to execute its growth strategy with planned developments of 75 MW in Wyoming and 16.5 MW in Mississippi. The company completed its acquisition of GRIID Infrastructure in October 2024, further expanding its mining capacity. Management remains focused on operational efficiency and strategic growth while addressing identified material weaknesses in internal controls.