CleanSpark Inc (OQ:CLSK)

Business Focus: N/A

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Sector: Technology	Industry: N/A

See Regulatory Filings on SEC

Company Contact

Address:	10624 S. Eastern Ave., Suite A - 638 HENDERSON NV 89052
Tel:	N/A
Website:	https://cleanspark.com
IR:	See website

Key People

S. Matthew Schultz Executive Chairman of the Board	Zachary K. Bradford President, Chief Executive Officer, Director	Gary A. Vecchiarelli Chief Financial Officer

Business Overview

CleanSpark, Inc. is a bitcoin mining company. The Company independently owns and operates approximately eight data centers in Georgia for a total developed capacity of 230 megawatts (MW). The Company is engaged in developing an additional 150 MW at its data center in Sandersville, Georgia. It does not host miners for any other companies, and has a partner in Massena, New York, who hosts approximately 50 MW for the Company. It operates around bitcoin mining machines, with a hash rate capacity of approximately 15 Exa hashes per second (EH/s) and a fleetwide efficiency of 28.4 joules per tera hash (J/TH). The Company's subsidiaries include ATL Data Centers LLC, CleanBlok, Inc., CleanSpark DW, LLC, CleanSpark GLP, LLC, CSRE Properties Norcross, LLC, CSRE Property Management Company, LLC, CSRE Properties, LLC, CSRE Properties Washington, LLC, CSRE Properties Dalton, LLC, and CleanSpark HQ, LLC.

Financial Overview

For the three months ended 31 December 2023, CleanSpark Inc revenues increased from $27.8M to $73.8M. Net income applicable to common stockholders excluding extraordinary items totaled $25.3M vs. loss of $30.5M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net Income reflects Professional fees decrease of 44% to $1.6M (expense).

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