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CLSK Earnings Today (postponed from yesterday (Patreon)

Published:
2024-08-09 19:44:10
Imported:
2026-06
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I'm unsure about what's happening or the reason for the delay, as management has been quiet. Normally never a good thing.

However, we've discovered a few things, which makes me think there's a good chance the earnings call might reveal something big.

At the same time, their BTC production for the quarter was strong, and they remain the most efficient miner.

 

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Comments

mtclvr

Really wish I didn't buy this turd at $15. Sigh. Waste of money

jim beam

We find out in 5 mins ?

Hightauer

Indeed. There are many legalities that must be adhered to... CLSK is a very solid operation... This has to be some sort of M&A, which would definitely help... Wondering if buyers want the price to drop next week before announcement...then...

Fear Zero

Earnings Flash (CLSK) CLEANSPARK Posts Q3 Revenue $104.1M, vs. Street Est of $111.3M Down goes CLSK.

Ekko

sounds like bdo accounting firm caused the delay….

AliveandKicking

Zach sounds like all is perfect and moving forward is rosie .... if so then $45 coming by October or November?????? 🤣

Trickydingo

Sorry this will be a long comment but found this summary and thought I’d share - CleanSpark (NASDAQ: CLSK) reported its Q3 FY2024 financial results, showing significant growth and strategic decisions. Revenue increased 129% year-over-year to $104.1 million, despite a 50% reduction in block rewards due to Bitcoin halving. The company mined 1,583 bitcoins during the quarter. However, CleanSpark reported a net loss of $236.2 million, primarily due to non-cash factors including an unfavorable mark-to-market on bitcoin holdings and an impairment on older miners. CleanSpark's current hashrate surpassed 22 EH/s, with a 24% increase during the quarter and a 21% improvement in efficiency year-to-date. The company is expanding into Tennessee and Wyoming. CleanSpark also partnered with Coinbase for a $50 million revolving line of credit collateralized by bitcoin holdings. As of June 30, 2024, CleanSpark had $129.2 million in cash, $413 million in bitcoin, and total assets of $1.48 billion. Positive: Revenue grew 129% year-over-year to $104.1 million Hashrate increased 24% during the quarter, surpassing 22 EH/s Efficiency improved 21% year-to-date Secured $50 million revolving line of credit from Coinbase Strong balance sheet with $129.2 million cash and $413 million in bitcoin Negative: Net loss of $236.2 million for the quarter Adjusted EBITDA decreased to -$12.7 million Non-cash impairment on older, less-efficient miners Unfavorable mark-to-market on bitcoin holdings

InvestmentSeeker

I’m just happy I sold ALL of my CLSK in April when it was at a high of $23. 🤑 CLSK has been 💩 ever since then. Hodling CLSK all the way down past $11 is a melting ice cube.

CryptoThug

Bunch of senseless chaos leading up to the earnings call.

Boolish
>>146110936

That was a GREAT decision in hindsight. I wanted to do the same but I would have a huge tax bill so I’m waiting on it. But I’m in no hurry I have time till end of 2025 so I’m okay to wait. Great job nailing it though 👏

Kari Wahl

I did not see a trade alert from James at 11.00 range did ya'll see it but me?