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CleanSpark Reports Fourth Quarter and Fiscal Year 2021 Financial Results
Twelve-month revenue increased nearly 400% to $49.4 million from one year ago period LAS VEGAS, Dec. 14, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq:
About this update from Cleanspark, Inc.
[{"type":"text","content":"Twelve-month revenue increased nearly 400% to $49.4 million from one year ago period\nLAS VEGAS, Dec. 14, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the “Company”), a sustainable bitcoin mining and energy technology company today reported financial results for its fourth quarter and 2021 fiscal year. The Company’s Annual Report on Form 10-K and accompanying financial statements are available at www.sec.gov and the Company website at https://www.cleanspark.com/investor-relations/sec-filings/ As previously announced, the Company is holding its annual earnings call today at 2 p.m. PT/5 p.m. ET. A recording and transcript of the call will be available shortly thereafter on the company’s website. A live version of the call is available at: https://services.choruscall.com/mediaframe/webcast.html?webcastid=OxACvcYn Financial Highlights Year ended September 30, 2021 Revenues for the year ended September 30, 2021 were $49.4 million, an increase of $39.4 million, or 400%, from $10.0 million for the same prior year period.Net loss for the 12 months ended September 30, 2021 was ($21.8) million, or ($0.75) loss per share, compared to a loss of ($23.3) million, or ($2.44) loss per share, for the same prior year period, an improvement of $1.70 per share.Adjusted EBITDA, a non-GAAP term, for the year ended September 30, 2021 was $9.0 million, or $0.31 gain per share, compared to ($10.2) million, or ($1.07) loss per share, for the same prior year period. Three months ended September 30, 2021 Revenues for the three months ended September 30, 2021, were $27.1 million, an increase of $25.15 million, or nearly 1300%, from $1.95 million for the same prior year period. Balance Sheet Highlights as of September 30, 2021 Assets Cash: $18.0 MillionBook Value of Digital Currency: $23.6 million, or 627 bitcoins (fair market value $27.5 million)Total Current assets: $57.7 millionTotal Mining equipment: $123.2 millionTotal deposits for future mining equipment: $88.0 millionTotal Assets: $317.5 Million Liabilities and Stockholders’ equity Current Liabilities: $10.1 millionTotal Liabilities: $11.8 millionTotal Stockholders’ Equity: $305.7 million Working capital Working capital of $47.7 million as of September 30, 2021, compared to $2.9 million as of September 30, 2020, for an increase of $44.8 million. Operational Highlights – Year ended Septemb...