![]() ![]() ![]() The Company had working capital of $16.8 million and $21.2 million of debt as of September 30, 2022. Total Stockholders' Equity: $404.0 million.Total Mining assets (including prepaid deposits & deployed miners): $386.6 million.Adjusted EBITDA was $2.9 million, decreasing 81% from $15.2 million in the preceding quarter.īalance Sheet Highlights as of September 30, 2022 Net loss for the fourth quarter was $(42.3) million, increasing $13.0 million from the third quarter net loss of $(29.3) million. Revenues decreased from $31.0 million to $26.2 million, a change of $4.8 million or 15% from the third quarter. The Company also saw sequential revenues decrease in the fourth quarter compared to the previous quarter.Adjusted EBITDA 2 decreased to $2.9 million, a decrease of 73% from $10.6 million in the same prior year period.The Company recognized a net loss for the three months ended September 30, 2022, of $(42.3) million, an increase of 683% compared to $(5.4) million for the same prior year period. ![]() ![]() Revenues for the quarter grew to $26.2 million, an increase of $3.3 million, or 14%, from $22.9 million for the same prior year period.Adjusted EBITDA 1 increased to $65.7 million, an increase of $54.5 million or 487% from $11.2 million in the prior year.įinancial Highlights of Fourth Quarter 2022įinancial Results for the Three Months Ended September 30, 2022.The Company recognized a net loss for the year of $(57.3) million, an increase of 163% compared to $(21.8) million in the prior year.Revenues for the year grew to $131.5 million, an increase of $92.2 million, or 235%, from $39.3 million in the prior year.We have four impressive sites that we own 100% with no partners and little debt, which resulted in mining 3,750 bitcoins, a 320% increase in production for the fiscal year."įinancial Results for the Fiscal Year Ended September 30, 2022 Our rapid growth has continued subsequent to our fiscal year end as we approach 6.0 EH/s, exceeding our calendar year end guidance once again. Even then, our adjusted EBITDA was $65.7M, a 500% increase over the prior year, which represents the power and scale of our business model. The majority of these fourth quarter losses were primarily due to impairment of goodwill and bitcoin balances, as well as non-cash charges due to modification of equity instruments. However, we recognized a net loss of $57.3M for the year, of which $42.3M occurred in the fourth quarter. "Our revenue for fiscal year 2022, which ended on September 30, was $131.5M, almost a 250% increase over the prior year. "This is a world class team that has doubled, tripled and even quadrupled multiple key performance indicators this fiscal year," said Gary A. This team continues to exceed my expectations and I'm so proud of them." We continue to execute our business plans with best-in-class efficient mining operations and by identifying potential accretive acquisitions while maintaining very little leverage on our balance sheet. "Despite macro headwinds in the economy and bitcoin mining industry, our infrastructure first approach and financial discipline have allowed us to grow in this bear market. "Our business model and capital strategy continue to be standouts in our industry," said Zach Bradford, CEO. CleanSpark holds the 44th spot on the Financial Times' 2022 List of the 500 Fastest Growing Companies in the Americas and ranks thirteenth on Deloitte’s Fast 500.CleanSpark surpasses 5.8EH/s and 21.7 bitcoin per day. We cultivate trust and transparency among our employees, the communities we operate in, and the people around the world who depend on Bitcoin. We strive to leave the planet better than we found it by sourcing and investing in low-carbon energy, like wind, solar, nuclear, and hydro. In 2020, we transitioned that expertise to develop sustainable infrastructure for Bitcoin, an essential tool for financial independence and inclusion. Since 2014, we’ve helped people achieve energy independence for their homes and businesses. Results will be released after the close of regular trading on February 9, 2023.ĭownloadable files, including transcripts, will be available on the company website 48 hours after the event.ĬleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner ™. (Nasdaq: CLSK) (the "Company"), America's Bitcoin Miner™, will discuss fiscal first quarter 2023 financial results via a live webcast beginning 4:30 p.m. 30, 2023 (GLOBE NEWSWIRE) - CleanSpark, Inc. ![]()
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