CleanSpark Third Quarter Financial Report: Revenue Rises Significantly, Net Loss Widens
Publication Time:2024-08-14 12:06:06
The publicly listed bitcoin mining company, CleanSpark, revealed in its recently published third quarter financial report that despite a significant increase in revenue to $104.1 million, up from $45.5 million in the same period last year, an increase of 129%, the net loss also notably increased to $236.2 million, compared to $14.1 million in the previous year. Despite this, CleanSpark successfully mined 15,833 bitcoins during the quarter. As of the end of the reporting period, the company's cash balance stood at $129.2 million, with holdings of $413 million in bitcoins, totalling $598.8 million in total current assets and $625.8 million in mining assets (including prepaid deposits and deployed miners) on the balance sheet. By June 30, 2024, CleanSpark's working capital was $531.9 million, with debt levels at $11 million.
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Bitcoin Mining Enterprise