- CleanSpark ( NASDAQ: CLSK ) on Thursday reported weaker Q1 results as a result of depressed bitcoin ( BTC-USD ) prices during most of the quarter.
- The cryptocurrency miner's stock edged 3.1% lower in aftermarket trade.
- Q1 EPS was -$0.46 vs. $0.38 in Q1 2022, while revenue dropped 25.1% Y/Y to $27.8M.
- CleanSpark ( CLSK ) mined 1,531 bitcoin in Q1, more than double the amount in the year ago period.
- "Our average hashrate rapidly increased, outpacing global hashrate, and we mined the most bitcoin ever in a single quarter. Last month we had our highest monthly production ever, at nearly 700 BTC," said CEO Zach Bradford.
- CleanSpark ( CLSK ) had $2.1M cash and ~$3.9M in bitcoin (based on BTC price of ~$17K) as of December 31, 2022.
- The company had $349M in total mining assets and its debt totaled $19.6M at December 31, 2022.
- CleanSpark ( CLSK ) paid down $1.6M or ~8% of its outstanding debt in Q4.
- Earlier, the company mined 697 bitcoin in January .
For further details see:
CleanSpark stock dips 3% after hours as lower bitcoin prices drag Q1 earnings