Summary by Moomoo AI
On August 9, 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 June 30, 2024. The company announced a significant increase in revenue, which grew by 129% year-over-year to $104.1 million. Despite the revenue growth, CleanSpark incurred a net loss of $236.2 million, primarily due to non-cash factors such as an unfavorable mark-to-market on bitcoin holdings and impairment on older mining equipment. Adjusted EBITDA for the quarter was reported at a negative $12.7 million. The company's CEO, Zach Bradford, highlighted a 24% increase in hashrate and a 21% increase in efficiency year to date, as well as expansions into Tennessee and Wyoming. CFO Gary A. Vecchiarelli noted...Show More
