#CleanSpark, Inc. FY2024 #EarningsReport Summary | $CLSK (+0.75%)

In FY2024, CleanSpark achieved record-breaking results, leveraging a counter-cyclical growth strategy and operational excellence to outpace Bitcoin halving and network difficulty increases. Strategic expansion in infrastructure and efficiency improvements contributed to substantial financial and operational progress.

📊 Income Statement Highlights (vs. FY2023):

▫️Total Revenue: $378.97M vs. $168.41M (+125.00%)

▫️Net Loss: ($145.78M) vs. ($138.15M)

▫️Loss per Share (Basic): ($0.69) vs. ($1.30) (+46.92%)

▫️Adjusted EBITDA: $245.85M vs. $25.03M (+882.92%)

▫️Bitcoin Production: 7,100 BTC (+~30% YoY).

📈 Operational Metrics:

▫️Current hashrate: 33.5 EH/s, targeting 37 EH/s by end of 2024 and 50 EH/s in 2025.

▫️Energy portfolio expanded to 726 MW (+423 MW YoY).

💼 Balance Sheet Highlights (as of September 30, 2024, vs. FY2023):

▫️Cash and Equivalents: $122.22M vs. $29.22M (+318.22%)

▫️Bitcoin Holdings: $509.49M vs. $56.24M (+806.14%)

▫️Total Assets: $1.96B vs. $761.58M (+157.60%)

▫️Total Liabilities: $201.82M vs. $85.91M (+134.82%)

▫️Stockholders' Equity: $1.76B vs. $675.67M (+160.66%).

🔮 Future Outlook:

CleanSpark anticipates further growth in mining capacity, aiming to achieve a hashrate of 50 EH/s by 2025. The company plans to capitalize on scale efficiencies and favorable energy markets to maximize profitability while managing risks associated with Bitcoin price volatility and regulatory changes.