Business
CleanSpark Reports Fiscal Year 2023 Financial Results
Revenue grows 28% year over year; annual bitcoin production nearly doubles to 6,903 FY2023 Revenue of $168 million, net loss of $(137) million and Adjusted
About this update from Cleanspark, Inc.
[{"type":"text","content":"Revenue grows 28% year over year; annual bitcoin production nearly doubles to 6,903\nFY2023 Revenue of $168 million, net loss of $(137) million and Adjusted EBITDA of $25 million\nReports current cash and bitcoin holdings of approximately $168 million\nLAS VEGAS, Nov. 30, 2023 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the \"Company\"), America's Bitcoin Miner™, today reported financial results for its fiscal year ended September 30, 2023.\n\n \n \n \n \n \n \n\n \n\"This past fiscal year has been one of substantial growth and success for CleanSpark,\" said Zach Bradford, CEO.\"This past fiscal year has been one of substantial growth and success for CleanSpark. We've not only met but exceeded many of our strategic aims and I'm proud to share these accomplishments with you,\" said Zach Bradford, CEO. \"We posted revenue of over $168 million, a significant increase over the last fiscal year. We expect to continue this trajectory and are optimistic about revenue growth next year, even as we prepare for the halving. Operationally, our hashrate growth year-over-year has been exceptional, highlighting our commitment to not just growing but also scaling efficiently. We achieved a remarkable milestone this year by surpassing a total hashrate of 10 exahashes per second, and that hashrate is among the most efficient in the industry.\"\nBradford continued, \"I'm also proud to note that we've kept pace with the Bitcoin network's soaring hashrate; the results of our efforts were a record 6,903 bitcoin mined for the fiscal year, almost doubling what we mined last year. Topping it off, we are entering the new year with the strongest balance sheet in our history. We believe we are the best bitcoin mining operators in the industry and are well-served by our strategy of owning and operating our own infrastructure.\" \n\"It's been a year of significant achievements, and our financial position reflects this,\" said Gary Vecchiarelli, CFO. \"Our 2023 fiscal year has helped to set the stage in preparation for the halving. Most importantly, we have shored up the balance sheet, as we have almost $170 million in liquidity as of today. With our efficient fleet, world class operations and strong liquidity, we are positioned well for the future and will look to take advantage of opportunities the halving may present.\"\nVecchiarelli continued, \"Our ...