Cleanspark Stock Plunges As Q3 Revenue Misses Consensus

  • Cleanspark Inc CLSK reported third-quarter FY21 revenue growth of 250% year-on-year to $11.9 million, missing the analyst consensus of $15.2 million.
  • Cleanspark produced over 191 Bitcoins in Q3. It has produced 598 Bitcoins since acquiring its mining operations from December 10 through August 14.
  • The current hash rate capacity now exceeds 820 PH/s.
  • The basic loss per share was $(0.49). Net loss widened to $(16.7) million.
  • Adjusted EBITDA after incorporating non-recurring costs resulted in a non-GAAP net income for Q3 of $2.3 million, or $0.07 per share.
  • Cleanspark held $22.2 million in cash and equivalents.
  • CleanSpark continues to expand its total energy capacity to drive its bitcoin mining operations in Atlanta this fall.
  • CleanSpark sees continued growth in its Electric Vehicle (EV) charging initiative.
  • Price Action: CLSK shares traded lower by 19.4% at $11.07 on the last check Tuesday.
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