CleanSpark, a bitcoin mining company, reported a significant increase in its financial performance for the quarter ended March 31, 2024. The company's net revenues from bitcoin mining surged to $111,799, compared to $42,488 in the same period the previous year. This substantial growth contributed to a net income of $126,735 for the quarter, a stark contrast to the net loss of $18,460 reported in the corresponding quarter of 2023. The diluted earnings per share for the quarter stood at $0.58, up from a loss of $0.23 per share in the prior year. CleanSpark's total assets more than doubled, reaching $1,537,315 as of March 31, 2024, from $761,578 on September 30, 2023. The company's business development has been robust, with the completion of an additional 50 MW of data center infrastructure in Sandersville, GA...Show More

CleanSpark, a bitcoin mining company, reported a significant increase in its financial performance for the quarter ended March 31, 2024. The company's net revenues from bitcoin mining surged to $111,799, compared to $42,488 in the same period the previous year. This substantial growth contributed to a net income of $126,735 for the quarter, a stark contrast to the net loss of $18,460 reported in the corresponding quarter of 2023. The diluted earnings per share for the quarter stood at $0.58, up from a loss of $0.23 per share in the prior year. CleanSpark's total assets more than doubled, reaching $1,537,315 as of March 31, 2024, from $761,578 on September 30, 2023. The company's business development has been robust, with the completion of an additional 50 MW of data center infrastructure in Sandersville, GA, and a 15 MW expansion at its Dalton, GA location. CleanSpark's future plans include the commissioning of the new Sandersville infrastructure and the finalization of the Dalton expansion. The company's liquidity position is strong, with cash and cash equivalents, including restricted cash, totaling $323,052 and bitcoin holdings valued at $357,981. CleanSpark's strategic initiatives have focused on expanding its mining capacity and infrastructure to support the growth of bitcoin, which it views as an essential tool for financial independence and inclusion.