Slide 1: CleanSpark
CleanSpark R
Slide 2: Fiscal Year 2025 Earnings Call
FISCAL YEAR 2025 EARNINGS CALL
Slide 3: Safe Harbor Statement
FISCAL YEAR 2025 EARNINGS CALL SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this presentation, forward-looking statements include, but may not be limited to, statements regarding the Company
Slide 4: Matt Schultz
FISCAL YEAR 2025 EARNINGS CALL MATT SCHULTZ CHIEF EXECUTIVE OFFICER & CHAIRMAN
Slide 5: CLSK FY25 Key Metrics
FISCAL YEAR 2025 EARNINGS CALL CLSK FY25 KEY METRICS REVENUE GAAP NET INCOME EPS (BASIC) ADJUSTED EBITDA3 $766.3 M $364.5 M $1.25 $823.4 M OPERATIONAL HASHRATE MARGINAL COST BITCOIN HOLDINGS1 BITCOIN MINED AS OF OCTOBER 31, 20252 PER BITCOIN 7,873 50 EH/S $42,956 13,011 (1) Includes bitcoin receivab
Slide 6: CleanSpark's Evolution
FISCAL YEAR 2025 EARNINGS CALL CLEANSPARK’S EVOLUTION FROM ENERGY TO COMPUTE INFRASTRUCTURE AT SCALE 2014-2021 2021-2025 ENERGY SOFTWARE PURE PLAY BITCOIN 2025 & BEYOND BUSINESS MINING ENERGY & INFRASTRUCTURE COMPUTE PLATFORM
Slide 7: CleanSpark's U.S. Footprint Today
FISCAL YEAR 2025 EARNINGS CALL CLEANSPARK’S U.S. FOOTPRINT TODAY W Y O M I N G (1) 100% CONTRACTED MW: 110 CLSK OPERATED MINING LOCATIONS: 2 INFRASTRUCTURE 1,312 CONTRACTED T E N N E S S E E (3) C A P A C I T Y (3) CONTRACTED MW: 234 MINING LOCATIONS: 12 33 MISSISSIPPI (1) CONTRACTED MW: 63 OPERATIN
Slide 8: Key Accomplishments
FISCAL YEAR 2025 EARNINGS CALL KEY STRATEGIC BUSINESS OUTCOMES OVER THE LAST 100 DAYS ACCOMPLISHMENTS HIRED DATA CENTER CONVERTIBLE BOND & FIRST INFRASTRUCTURE FIRST ACQUISITION VETERAN JEFF BITCOIN-BACKED VENDOR SELECTION IN TEXAS THOMAS TO LEAD AI FACILITIES
Slide 9: CleanSpark's Evolution
FISCAL YEAR 2025 EARNINGS CALL CLEANSPARK’S EVOLUTION FROM ENERGY TO COMPUTE INFRASTRUCTURE AT SCALE 2026 2027 2028 2025 & BEYOND PORTFOLIO EXPANSION LARGE-SCALE COMMISSIONING MULTI-CAMPUS CAPABILITIES ENERGY & INFRASTRUCTURE TENANT CERTAINTY TENANT DIVERSITY GIGA-PROJECT DEVELOPMENT COMPUTE PLATFOR
Slide 10: Gary Vecchiarelli
FISCAL YEAR 2025 EARNINGS CALL GARY VECCHIARELLI PRESIDENT & CHIEF FINANCIAL OFFICER
Slide 11: Financial Performance: FY24 vs FY25
FISCAL YEAR 2025 EARNINGS CALL FINANCIAL PERFORMANCE: FY24 vs FY25 REVENUE GROSS PROFIT1 1 Gross Profit is calculated as (Total revenue-Cost of revenue)/(Total revenue) $423.2m 55.2% $766.3m $213.0m 56.2% $378.9m FY 2024 FY 2025 FY 2024 FY 2025 NET INCOME/LOSS ADJUSTED EBITDA1 1 See Exhibit for reco
Slide 12: Financial Performance: Q3-25 vs Q4-25
FISCAL YEAR 2025 EARNINGS CALL FINANCIAL PERFORMANCE: Q3-25 VS Q4-25 REVENUE GROSS PROFIT1 1 Gross Profit is calculated as (Total revenue-Cost of revenue)/(Total revenue) $126.4m 56.5% $223.7m $108.5m 54.6% $198.6m Q3 2025 Q4 2025 Q3 2025 Q4 2025 NET INCOME/LOSS ADJUSTED EBITDA1 1 See Exhibit for re
Slide 13: Crawl to Walk
FISCAL YEAR 2025 EARNINGS CALL AVERAGE BTC PROCEEDS FROM ANNUALIZED DIGITAL ASSET PRICE AT AVERAGE BTC BTC EFFECTIVE SALES CONTRACT STRIKE PRICE COVERED PREMIUMS PRICE TO SPOT PREMIUM MANAGEMENT ACTIVITIES ($000’S) YIELD DATE $110,573 $112,630 1,100 $734 102% - CRAWL TO WALK Opex Funding Calls Yield
Slide 14: Capital Strategy Update
FISCAL YEAR 2025 EARNINGS CALL CAPITAL STRATEGY UPDATE A DISCIPLINED AND HOLISTIC APPROACH INSTITUTIONAL BTC CASH FLOW $1.15B CONVERTIBLE ASSET MANAGEMENT COLLATERALIZED POSITIVE BOND CLOSES AT 0% DESK PRODUCING FACILITIES - $400M OPERATIONS INTEREST PREMIUMS CAPACITY As we scale into AI data center
Slide 15: CleanSpark
CleanSpark R
Slide 16: Q&A
FISCAL YEAR 2025 EARNINGS CALL Q&A
Slide 17: CleanSpark
CleanSpark R
Slide 18: Non-GAAP Adjusted EBITDA Reconciliation
FISCAL YEAR 2025 EARNINGS CALL NON-GAAP ADJUSTED EBITDA RECONCILIATION ($ in thousands) For the Year Ended September 30, Reconciliation of non-GAAP Adjusted EBITDA 2025 2024 2023 Net income (loss) $ 364,464 $ (145,777) $ (138,148) Depreciation and amortization 348,335 154,609 120,728 Share-based com