Summary by Moomoo AI
CleanSpark, Inc., a Nevada-based bitcoin mining company, has released its annual report for the fiscal year ended September 30, 2023. The report includes financial statements and notes, detailing the company's revenue from bitcoin mining, costs, and operating expenses. CleanSpark reported net revenues of $168.1 million from bitcoin mining, with a net loss from continuing operations of $132.2 million. The company also disclosed its holdings of 2,243 bitcoins valued at approximately $56.2 million. CleanSpark's financial year saw significant investments in mining equipment and expansion of its operations, including the acquisition of two bitcoin mining facilities in Dalton, GA, and a lease for real property in Sandersville, GA. The company's financial health is supported by existing cash, cash equivalents, and bitcoin, with management confident in meeting liquidity requirements for the next 12 months. The report also addresses internal control weaknesses and outlines remediation measures. CleanSpark's stock is traded on The Nasdaq Capital Market under the ticker CLSK.