Cleanspark, Inc. · NASDAQ:CLSK
Cleanspark — Q3 2022 Earnings Presentation
17 slides from Cleanspark's earnings presentation, Aug 9, 2022
Slide 1: Q3 2022 Earnings Call
CleanSpark'+ Q3 2022 Earnings Call
Slide 2: Disclaimer
Disclaimer The forward-looking statements in this Earnings Call are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results o
Slide 3: Zach Bradford, Chief Executive Officer
Zach Bradford Chief Executive Officer
Slide 4: Bitcoin Mined and Hashrate Growth (Historical)
Bitcoin Mined and Hashrate Growth (Historical) 450 5 400 4.5 384 4 350 Total Bitcoin Mined 339 Hashrate (EH/s) 3.5 300 318 313 312 305 3 276 250 2.5 226 200 216 218 189 193 2 150 147 1.5 100 1 73 50 56 56 60 0.5 42 45 0 0 21 22 21 21 22 21 21 22 21 21 21 21 22 21 22 21 22 1 2 r2 r2 ec b b n n p l l
Slide 5: Expanding Our Mining Capacity
Expanding Our Mining Capacity Purchase contract of BITMAIN’s most efficient machines • 1,800 bitcoin mining units expected to add over 252 PH/s in mining capacity Acquisition of Foundry's Latest Generation Machines • 1,061 latest gen WhatsMiner M30S machines, expanding mining capacity by over 90 PH/
Slide 6: Washington, Georgia
Washington, Georgia Power • 36 MW immediately available • Opportunity for 50 MW more in 2023 Processing Power/Capacity • 36 MW adds 1.1 EH/s • CLSK hashrate to increase to 4.0 EH/s, elevating CLSK to #3 position by hashrate • CLSK has miners on hand to immediately fill shelf space • Future 50 MW exp
Slide 7: Legacy Business Update
Legacy Business Update
Slide 8: Thank You!
Thank You! CleanSpark + nny mining for A er we
Slide 9: Gary A. Vecchiarelli, Chief Financial Officer
Gary A. Vecchiarelli Chief Financial Officer
Slide 10: Financial Performance: Revenue & Margins
Financial Performance: Revenue & Margins Revenue Gross Profit $31.03m 0.09 m $20.69m $9.05m 67% $7.90m 0.40m 30.94 m 87% 8.65 m Q3 2021 Q3 2022 Q3 2021 Q3 2022 $37.19m 0.23 m $31.03m $28.61m 0.09m 77% $20.69m 67% 36.96 m 30.94 m Q2 2022 Q3 2022 Q2 2022 Q3 2022 Bitcoin Mining Other Services
Slide 11: Financial Performance: Profitability
Financial Performance: Profitability Net Income/Loss Adjusted EBITDA $15.17m 49% ($16.68m) ($29.34m) Q3 2021 Q3 2022 ($1.7m) Q3 2021 Q3 2022 $21.56m ($0.17m) 58% $15.17m 49% ($29.34m) Q2 2022 Q3 2022 Q2 2022 Q3 2022 NASDAQ: CLSK
Slide 12: Q3-22 Financial Results – Prior Quarter Expense Comparison
Q3-22 Financial Results – Prior Quarter Expense Comparison Consecutive Quarter Comparison Q3-22 Q2-22 $ Change % Change Cost of Revenues $ 10.34m $ 8.59m $ 1.75m 20% Professional Fees 1.43m 0.91m 0.52m 57% Payroll Expenses 7.62m 9.26m (1.64m) (18%) G&A Expenses 2.11m 3.01m (0.27m) (9%) Impairment of
Slide 13: Q3-22 Financial Results – Selected Balance Sheet Data
Q3-22 Financial Results – Selected Balance Sheet Data $2.7M $9.7M $18.3M Cash & Cash Equivalents Assets Held For Sale Notes Payable $10.5M Digital Currency $13.2M $411M $34.2M Total Liquidity Total Assets Total Liabilities
Slide 14: Capital Expenditures
Capital Expenditures MINERS 31,350 Deployed 8,124 Ready for Deployment 39,474 Miners on Hand COMMITMENTS $2M Miner CapEx $3M Construction CapEx $5M Total CapEx Commitments 5,132 Miners to be Delivered 570.7PH Hash Rate to be Delivered *As of July 31, 2022
Slide 15: Bitcoin Mined and Hashrate Growth (Projected)
Bitcoin Mined and Hashrate Growth (Projected) 309 MW 609 MW 450 Contracted Power Lancium Option 22.4 EH/s 400 20 384 350 Total Bitcoin Mined 339 Hashrate (EH/s) 300 318 313 312 15 305 276 250 226 200 216 218 10 189 193 150 147 100 5 EH/s 5 73 50 56 56 60 42 45 0 0 M 1 M 2 M 3 21 22 23 Au 1 Au 2 Au 3
Slide 16: NASDAQ: CLSK
\SDAQ: CLSK +
Slide 17: America’s Bitcoin Miner
CleanSpark + America’s Bitcoin Miner™