Summary by Moomoo AI
CleanSpark, a bitcoin mining company, reported significant growth in its financial performance for the quarter ended June 30, 2024. The company's total current assets surged to $598,835 from $102,172 in the previous year, with a notable increase in Bitcoin holdings valued at $413,033, up from $56,241. Property and equipment also saw an increase to $568,393 from $564,395. CleanSpark's net loss for the quarter was substantial at $236,242 compared to a net loss of $14,219 in the same period last year, primarily due to an impairment expense of $189,235 on certain miners. The company's diluted loss per share was $1.03, a significant increase from the $0.12 loss per share in the previous year. Despite the net loss, CleanSpark's cash and cash equivalents, including restricted cash, stood at $129,164, and the company...Show More