CleanSpark Q1 Earnings: Revenue Beat, EPS Beat, Shares Jump

Benzinga

02-07

CleanSpark Inc reported first-quarter financial results after the market close on Thursday. Here’s a rundown of the report.

Q1 Earnings: CleanSpark reported first-quarter revenue of $162.3 million, beating analyst estimates of $150.87 million, according to Benzinga Pro. The Bitcoin miner reported earnings of 85 cents per share, beating analyst estimates of 9 cents per share.

Total revenue was up 120% on a year-over-year basis. Adjusted EBITDA came in at $321.6 million, up from $69.1 million in the prior year’s quarter. CleanSpark said it ended the quarter with $929.1 million in Bitcoin and $276.6 million in cash. The company had working capital of $1.2 billion as of Dec. 31.

CleanSpark shares jumped 6% in overnight trading.

“This quarter we saw the impact of continuous improvements across what we believe to be the most important industry metrics: operating hashrate, fleet efficiency, marginal cost to mine, bitcoin treasury, and portfolio uptime,” said Zach Bradford, CEO of CleanSpark.

“We exceeded 2024 guidance and surpassed 40 EH/s in January, while driving fleet efficiency down to 16.15 J/Th. “CleanSpark delivered $162.3 million in revenue at a marginal cost to mine of approximately $34,000 per bitcoin for the quarter.”

CleanSpark’s Bitcoin holdings grew to over 10,500 in the quarter. The company noted that all of its Bitcoin has been self-mined.

CleanSpark CFO Gary Vecchiarelli said, “We continue to invest in ourselves because why buy Bitcoin at current spot prices when we can mine it for $34,000?”

CleanSpark noted that its hashrate surpassed 40 EH/s in January. The company expects to reach its goal of 50 EH/s in the first half of 2025.

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Here’s a rundown of the report.</p><p style=\"text-align: start;\"><strong>Q1 Earnings:</strong> CleanSpark reported first-quarter revenue of $162.3 million, beating analyst estimates of $150.87 million, according to Benzinga Pro. The <strong>Bitcoin</strong> miner reported earnings of 85 cents per share, beating analyst estimates of 9 cents per share.</p><p style=\"text-align: start;\">Total revenue was up 120% on a year-over-year basis. Adjusted EBITDA came in at $321.6 million, up from $69.1 million in the prior year’s quarter. CleanSpark said it ended the quarter with $929.1 million in Bitcoin and $276.6 million in cash. The company had working capital of $1.2 billion as of Dec. 31.</p><p>CleanSpark shares jumped 6% in overnight trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2a057cdd5ad66c9a3ab980d709744ac5\" tg-height=\"625\" tg-width=\"855\"/></p><p style=\"text-align: start;\">“This quarter we saw the impact of continuous improvements across what we believe to be the most important industry metrics: operating hashrate, fleet efficiency, marginal cost to mine, bitcoin treasury, and portfolio uptime,” said <strong>Zach Bradford</strong>, CEO of CleanSpark.</p><p style=\"text-align: start;\">“We exceeded 2024 guidance and surpassed 40 EH/s in January, while driving fleet efficiency down to 16.15 J/Th. “CleanSpark delivered $162.3 million in revenue at a marginal cost to mine of approximately $34,000 per bitcoin for the quarter.”</p><p style=\"text-align: start;\">CleanSpark’s Bitcoin holdings grew to over 10,500 in the quarter. The company noted that all of its Bitcoin has been self-mined.</p><p style=\"text-align: start;\">CleanSpark CFO <strong>Gary Vecchiarelli</strong> said, “We continue to invest in ourselves because why buy Bitcoin at current spot prices when we can mine it for $34,000?”</p><p>CleanSpark noted that its hashrate surpassed 40 EH/s in January. 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Here’s a rundown of the report.</p><p style=\"text-align: start;\"><strong>Q1 Earnings:</strong> CleanSpark reported first-quarter revenue of $162.3 million, beating analyst estimates of $150.87 million, according to Benzinga Pro. The <strong>Bitcoin</strong> miner reported earnings of 85 cents per share, beating analyst estimates of 9 cents per share.</p><p style=\"text-align: start;\">Total revenue was up 120% on a year-over-year basis. Adjusted EBITDA came in at $321.6 million, up from $69.1 million in the prior year’s quarter. CleanSpark said it ended the quarter with $929.1 million in Bitcoin and $276.6 million in cash. The company had working capital of $1.2 billion as of Dec. 31.</p><p>CleanSpark shares jumped 6% in overnight trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2a057cdd5ad66c9a3ab980d709744ac5\" tg-height=\"625\" tg-width=\"855\"/></p><p style=\"text-align: start;\">“This quarter we saw the impact of continuous improvements across what we believe to be the most important industry metrics: operating hashrate, fleet efficiency, marginal cost to mine, bitcoin treasury, and portfolio uptime,” said <strong>Zach Bradford</strong>, CEO of CleanSpark.</p><p style=\"text-align: start;\">“We exceeded 2024 guidance and surpassed 40 EH/s in January, while driving fleet efficiency down to 16.15 J/Th. “CleanSpark delivered $162.3 million in revenue at a marginal cost to mine of approximately $34,000 per bitcoin for the quarter.”</p><p style=\"text-align: start;\">CleanSpark’s Bitcoin holdings grew to over 10,500 in the quarter. The company noted that all of its Bitcoin has been self-mined.</p><p style=\"text-align: start;\">CleanSpark CFO <strong>Gary Vecchiarelli</strong> said, “We continue to invest in ourselves because why buy Bitcoin at current spot prices when we can mine it for $34,000?”</p><p>CleanSpark noted that its hashrate surpassed 40 EH/s in January. The company expects to reach its goal of 50 EH/s in the first half of 2025.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CLSK","symbol_name":"CleanSpark, Inc.","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/25/02/43547080/cleanspark-q1-earnings-revenue-beat-eps-beat-shares-jump-why-buy-bitcoin-at-current-spot-prices-when-we-can-mine-it-for-34000","article_id":"2509782734","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509782734","pubTimestamp":1738893316,"columns":[{"name":"财报速递","id":26,"label_key":"express"}],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"CleanSpark Inc reported first-quarter financial results after the market close on Thursday. Here’s a rundown of the report.Q1 Earnings: CleanSpark reported first-quarter revenue of $162.3 million, bea","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CLSK":"CleanSpark, Inc."},"translate_title":"CleanSpark第一季度收益：收入超出预期、每股收益超出预期、股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLSK":1.1},"content_text":"CleanSpark Inc reported first-quarter financial results after the market close on Thursday. Here’s a rundown of the report.Q1 Earnings: CleanSpark reported first-quarter revenue of $162.3 million, beating analyst estimates of $150.87 million, according to Benzinga Pro. The Bitcoin miner reported earnings of 85 cents per share, beating analyst estimates of 9 cents per share.Total revenue was up 120% on a year-over-year basis. Adjusted EBITDA came in at $321.6 million, up from $69.1 million in the prior year’s quarter. CleanSpark said it ended the quarter with $929.1 million in Bitcoin and $276.6 million in cash. The company had working capital of $1.2 billion as of Dec. 31.CleanSpark shares jumped 6% in overnight trading.“This quarter we saw the impact of continuous improvements across what we believe to be the most important industry metrics: operating hashrate, fleet efficiency, marginal cost to mine, bitcoin treasury, and portfolio uptime,” said Zach Bradford, CEO of CleanSpark.“We exceeded 2024 guidance and surpassed 40 EH/s in January, while driving fleet efficiency down to 16.15 J/Th. “CleanSpark delivered $162.3 million in revenue at a marginal cost to mine of approximately $34,000 per bitcoin for the quarter.”CleanSpark’s Bitcoin holdings grew to over 10,500 in the quarter. The company noted that all of its Bitcoin has been self-mined.CleanSpark CFO Gary Vecchiarelli said, “We continue to invest in ourselves because why buy Bitcoin at current spot prices when we can mine it for $34,000?”CleanSpark noted that its hashrate surpassed 40 EH/s in January. The company expects to reach its goal of 50 EH/s in the first half of 2025.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"express","news_rank":0,"symbols":[],"gpt_button":0}}}