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8-K: CleanSpark Reports Fiscal Year First Quarter 2025 Results

SEC ·  Feb 6 21:13

Summary by Moomoo AI

CleanSpark announced strong financial results for Q1 FY2025 ended December 31, 2024, with revenue reaching $162.3M, up 120% YoY. The company achieved a net income of $246.8M with EPS of $0.85, while maintaining a competitive bitcoin mining cost of approximately $34,000 per coin, down 6% at owned facilities.The company's operational metrics showed significant improvements, with mining capacity exceeding 40 EH/s in January 2025. Financial position strengthened with total assets of $2.8B, including $276.6M in cash and $929.1M in bitcoin holdings. The company maintains strong liquidity of $1.2B and successfully closed a $650M convertible bond offering.Looking ahead, CleanSpark aims to achieve 50 EH/s in H1 2025 through expansion projects in Wyoming, Tennessee, and Georgia. The company's bitcoin treasury grew to over 10,500 BTC, all self-mined in the USA, while maintaining a 57% gross margin and one of the industry's strongest balance sheets with $2B in stockholders' equity.
CleanSpark announced strong financial results for Q1 FY2025 ended December 31, 2024, with revenue reaching $162.3M, up 120% YoY. The company achieved a net income of $246.8M with EPS of $0.85, while maintaining a competitive bitcoin mining cost of approximately $34,000 per coin, down 6% at owned facilities.The company's operational metrics showed significant improvements, with mining capacity exceeding 40 EH/s in January 2025. Financial position strengthened with total assets of $2.8B, including $276.6M in cash and $929.1M in bitcoin holdings. The company maintains strong liquidity of $1.2B and successfully closed a $650M convertible bond offering.Looking ahead, CleanSpark aims to achieve 50 EH/s in H1 2025 through expansion projects in Wyoming, Tennessee, and Georgia. The company's bitcoin treasury grew to over 10,500 BTC, all self-mined in the USA, while maintaining a 57% gross margin and one of the industry's strongest balance sheets with $2B in stockholders' equity.
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