Slide 1: FY2024 First Quarter Earnings Call
FY2024 First Quarter Earnings Call
Slide 2: Safe Harbor Statement
CleanSpark is America's Bitcoin Miner™ Safe Harbor Statement This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for growth and the Company’s bitcoin holdings and other statements reg
Slide 3: Zach Bradford, Chief Executive Officer
Zach Bradford Chief Executive Officer
Slide 4: CleanSpark is America's Bitcoin Miner
CleanSpark is America's Bitcoin Miner™ Transformational Industry-leading Exceptionally strong Infrastructure & Path to 50 EH/s operational track record balance sheet $74M ~$74M 106,000 ~215,000 ~315,000 Revenue FQ1-24 Cash balance3 Miners Miners at full At exercise of deployed deployment1 option2 61
Slide 5: Projected Path to 50 EH/s
Projected Path ~50 EH/s to 50 EH/s 20 S21-Option 32 EH/s S21-Purchased Mississippi 12 12 20 EH/s Dalton 2.4 2.4 2.4 Sandersville Expansion 1.6 1.6 1.6 12.5 EH/s 3.5 3.5 3.5 Exisiting 10 EH/s Hashrate - Path to 50 12.5 12.5 12.5 1 2 3 4 12/31/23 Curre nt 1H2024 2H2024 2025 1. Includes partial expansi
Slide 6: Sandersville Energized
Sandersville Energized
Slide 7: Dalton Expansion
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Slide 8: Mississippi
Mississippi Vicksburg, Mississippi Meridian, Mississippi .2 EH/s 1.4 EH/s Wiggins, Mississippi .8 EH/s *Expected hashrate after closing. NASDAQ: CLSK Copyright 2024 CleanSpark | 8
Slide 9: Bitcoin Breakeven Mining Cost
Post Halving Breakeven Scenarios Expected Average Current Fleet S21 XP Industry Average J/TH* J/TH** Bitcoin Breakeven Mining Cost Network Hashrate Assumes power cost of 4.4 cents per kWh. Gradient indicates where inefficient miners may risk loss if bitcoin does not exceed $40,000. Block rewards exc
Slide 10: Industry Leaders - Prepared for Halving
Industry Leaders - Prepared for Halving CLSK Projected Cost-to-Mine Industry Average After Halving After Halving $28,093 VS $47,117 *CLSK internal estimates, see exhibit for additional information. *Source: Cantor Fitzgerald Research, January 25, 2024. CLSK Efficiency Industry Average 26.4 J/Th VS 3
Slide 11: It Takes Grit and Teamwork
It Takes Grit and Teamwork
Slide 12: Gary A. Vecchiarelli, Chief Financial Officer
Gary A. Vecchiarelli Chief Financial Officer
Slide 13: Financial Performance: Revenue & Margins
Financial Performance: Revenue & Margins Revenue Gross Profit1 165% $73.8m $44.9m Improvement 61% $27.8m $7.4m 27% Q1 2023 Q1 2024 Q1 2023 Q1 2024 41% $73.8m Improvement $44.9m $52.5m 61% $22.1m 42% Q4 2023 Q1 2024 Q4 2023 Q1 2024 1 Gross Profit does not include labor and other operating costs, as p
Slide 14: Financial Performance: Profitability
Financial Performance: Profitability Net Income Adjusted EBITDA Total Revenue 35% Margin $69.1M Adjusted EBITDA Cost & Expenses Net Income $25.9M Net Income NASDAQ: CLSK Copyright 2024 CleanSpark | 14
Slide 15: Our Energy Expertise Drives Sophisticated Power Management
Our Energy Expertise Drives Sophisticated Power Management Q1-24 Power Cost 7% 11% Wholesale Electricity $0.030 Power Cost to Mine Transmission & Distribution $0.006 Owned Facilities 14% Profit Margin to City $0.005 $12,783 Taxes $0.003 68% Cost To Mine $0.044 NASDAQ: CLSK Copyright 2024 CleanSpark
Slide 16: Liquidity Profile
Liquidity Profile $62.5M $862.7M Cash & Cash Equivalents2 Total Assets, Net1 ~$166.6M / 3,703₿ Bitcoin3 $229.1M $14.5M Total Liquidity2 Total Debt1 1. As of December 31, 2023 2. As of February 8, 2024 3. Bitcoin price of $45,000 NASDAQ: CLSK Copyright 2024 CleanSpark | 16
Slide 17: Q&A
Q&A
Slide 18: CleanSpark + America's Bitcoin Miner
CleanSpark + America’s Bitcoin Miner™
Slide 19: Exhibits
Exhibits
Slide 20: All-in Q1 & Projected Post-Halving
All-in Q1 & Projected Post-Halving Q1 – 24 Average: Q1 - 24 Post Halving Post Halving Assumption Efficiency Quarterly Overhead Quarterly Overhead Efficiency 26.4 J/TH 24 J/TH 13.6M 13.6M Network Network 496 EH/s 500 EH/s Quarterly Bitcoin Mined1 Quarterly Bitcoin Mined1 EH/s2 2,020 1,377 EH/s2 10.05