CleanSpark, Inc. (NASDAQ:CLSK), MicroStrategy Incorporated (NASDAQ:MSTR) and Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares initially traded higher before paring gains on Thursday in sympathy with Iris Energy (NASDAQ:IREN) after the company reported earnings.
What Happened: Iris Energy reported 2024 fiscal year earnings after the market closed on Wednesday.
The company reported Bitcoin (CRYPTO: BTC) revenue of $184.1 million. During the fiscal year, the company mined 4,191 Bitcoin. For the 2023 fiscal year, Iris Energy had reported Bitcoin mining revenue of $75.5 million and had mined 3,259 Bitcoin.
Iris Energy reported that it increased its self-mining capacity from 5.6 EH/s to 10 EH/s throughout the fiscal year. In addition, the company said it is on track for 30 EH/s in 2024. As of August 28, the company has 15 EH/s installed and anticipates having 20 EH/s next month and 30 EH/s in the next four months.
The company also reported revenue of $3.1 million from AI Cloud Services.
In addition, Bitcoin is moving higher Thursday, currently trading at approximately $60,504, according to data from Benzinga Pro.
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Price Action: At the time of writing, CleanSpark stock is trading 0.7% higher at $10.76, MicroStrategy shares are moving 0.6% lower at $131.21 and Marathon stock is moving 1.26% lower at $16.92 per data from Benzinga Pro.
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