7/10/2023 0 Comments Cleanspark revenue![]() The company had working capital of $39.9 million as of June 30, 2021, compared to $2.9 million as of September 30, 2020, an increase of $37.0 million.įor the three months ended June 30, 2021, CleanSpark reported revenue of $11.9 million, an increase of $8.5 million, or 250%, from $3.4 million for the same prior-year period. has reported results for the three and nine-month periods ended June 30, 2021, showing very strong revenue growth and a big boost to working capital. Read moreĭuring the fiscal year ended.CleanSpark, Inc. Read moreĭepreciation and amortization Depreciation and. General and administrative expenses General. Payroll expenses Payroll expenses increased. Read moreĪmortization expense for the year. Read moreĭecreases in bitcoin prices for. ![]() Read moreĪSU 2016-13 requires entities to. In June 2021, we implemented an at-the-market share offering program (ATM Offering), whereby we may offer and sell our shares of common stock, $0.001 par value per share, having an aggregate gross sales price of up to $500 million.Ĭash provided by operating activities. The Company anticipates that the sale of its energy business will improve the future total cash provided by operating activities, and will improve liquidity to fund future growth initiatives in the bitcoin mining segment. The negative cash flow from investing activities was offset by acquisition of ATL Data Center, net of cash received of $45,783 and sale of equity securities of $373,121.Ĭost of revenues (exclusive of depreciation and amortization expense) Our cost of revenues were $41,233,650 for the year ended September 30, 2022, an increase of $35,970,621, or 683%, as compared with cost of revenues of $5,263,029 for the year ended September 30, 2021.Īdjusted EBITDA excludes (i) impacts of interest, taxes, and depreciation (ii) significant non-cash expenses such as our share-based compensation expense, unrealized gains/losses on securities, certain financing costs, other non-cash items that we believe are not reflective of our general business performance, and for which the accounting requires management judgment, and the resulting expenses could vary significantly in comparison to other companies (iii) significant impairment losses related to long-lived and digital assets, which include our bitcoin for which the accounting requires significant estimates and judgment, and the resulting expenses could vary significantly in comparison to other companies and (iv) and impacts related to discontinued operations that would not be applicable to our future business activities. Other Inside Cleanspark, Inc.'s 10-K Annual Report: 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.
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