Bitcoin Mining Industry Overview - China used to have the most hash rate in the world, but after the ban on Bitcoin mining, many Chinese miners relocated to the US [1][51][52] - Bitcoin mining can revitalize rural communities by partnering with local utilities that have excess power [41][44][45] - Bitcoin mining is an interruptible load, making it a perfect partner for utilities because it can be turned off and on without memory on the A6 [2][48][49] - There are only 450 new Bitcoin mined per day globally, regardless of how many miners there are [3][9] - Bitcoin miners validate each block, and without Bitcoin mining, Bitcoin doesn't exist [79] CleanSpark's Strategy and Operations - CleanSpark sells a portion of its Bitcoin production to cover operating expenses and uses a line of credit secured by its other Bitcoin for new acquisitions [12][13] - CleanSpark writes 5-day future contracts on Bitcoin they plan to sell, generating a premium of 1-4% [13][14] - CleanSpark doesn't sell its "hodl" (older Bitcoin) because it was mined at $20,000 each, which would have a significant tax impact [27][28] - CleanSpark's cost to mine a Bitcoin was approximately $42,000 in the most recent quarter [29][61] - CleanSpark aims to reach 50 exahash this summer [37] - CleanSpark is the last remaining pure-play miner, a strategy favored by institutional investors, with institutional holdings increasing from 10% to nearly 70% in three years [38][39] Market Dynamics and Future Outlook - The adoption of Bitcoin ETFs has changed the market dynamics, providing alternative investment options and influencing the correlation between Bitcoin price and miner performance [33][65] - The company believes Bitcoin will exceed $200,000 this year due to supply and demand dynamics [70][71] - The supply shock, with only 450 new Bitcoin mined daily, will drive the next phase of price increase [4][72]

CleanSpark (NasdaqCM:CLSK) FY Conference September 09, 2025 02:30 PM ET Company ParticipantsRussell Cann - Chief Development OfficerMatthew Schultz - Co-Founder, Executive Chairman & CEOSalman Khan - CFOTyler Page - Founder, CEO & DirectorBrian Wright - Co-Head - MiningAsher Genoot - CEO & DirectorSam Tabar - CEONoneHi. Welcome. Welcome. Welcome. Thank you very much for coming to the HCW conference this year.This is the most highly anticipated event of all of our crypto stuff. The Bitcoin mining panel, of c ...

Gary A. Vecchiarelli, Scott Garrison, Taylor Monnig, and Harry Sudock are transitioning to new and expanded C-Suite leadership roles LAS VEGAS , Sept. 8, 2025 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today announced a strategic realignment of its leadership team, with several key internal appointments and transitions to accelerate innovation, drive diversified growth, and strengthen the Company's long-term strategic trajectory. ...

Core Insights - CleanSpark, Inc. reported a total of 12,827 BTC in treasury and achieved an average hashrate increase of 1.4 EH/s month over month as of August 31, 2025 [1][2] Production Metrics - The company produced 657 BTC in August 2025, with a peak single-day production of 21.71 BTC and an average daily production of 21.20 BTC [3] - For the calendar year 2025, the total BTC produced reached 5,296 [3] Fleet Metrics - The operational hashrate was recorded at 50.0 EH/s, while the average operating hashrate stood at 43.3 EH/s [3] - The peak efficiency of the deployed fleet was 16.07 J/Th, with a total of 242,222 miners deployed as of August 31, 2025 [3] Bitcoin Treasury Metrics - As of August 31, 2025, CleanSpark's total bitcoin holdings were 12,827, with 3,026 BTC posted as collateral [4] - The company sold a total of 533.5 BTC, generating proceeds of $60,712,990, with an average sale price of $113,800 per BTC [3][4] Power Portfolio Metrics - CleanSpark has 1.03 GW under contract and utilized 808 MW concurrently to support its operational hashrate [3][5] Company Overview - CleanSpark is recognized as a market-leading Bitcoin miner, operating data centers across the U.S. and focusing on optimizing operations to deliver superior returns to shareholders [6]

Group 1 - Bitcoin-related stocks experienced a rise despite market trends, with CleanSpark (CLSK.US) up 2.6%, MicroStrategy (MSTR.US) up over 1.6%, Marathon Holdings (MARA.US) up over 1.9%, Bit Digital (BTBT.US) up over 1.7%, and Coinbase (COIN.US) slightly up [1] - Bitcoin saw a short-term increase, rising nearly 2% in the past 24 hours [1]

Company Performance - CleanSpark achieved 50 EH/s installed capacity [2] - CleanSpark manages a $680 million convertible bond [1] - CleanSpark has over 1 gigawatt (GW) power under contract [2] - Strong cash flow drives strategic optionality for CleanSpark [1][2] Leadership & Strategy - CleanSpark experienced a CEO transition, with Matt Schultz taking over from Zach Bradford after 6 years [1][2] - CleanSpark maintains a pure-play mining strategy, contrasting with the industry's pivot to HPC/AI [1] - CleanSpark optimizes fleet efficiency and power portfolio [1] Financial Strategy - CleanSpark raised a $680 million convertible bond in December [2] - CleanSpark utilizes a Coinbase credit line for tactical moves [2]

Core Insights - Cleanspark (CLSK) shares have declined by 7.9% since the release of its Q3 fiscal 2025 results, primarily due to a challenging macroeconomic environment and tariff uncertainties [1] - The company reported earnings of $0.78 per share for Q3 fiscal 2025, a significant improvement from a loss of $1.03 per share in the same quarter last year [9] Revenue and Production - Revenues for Q3 fiscal 2025 reached $198.6 million, representing a 90.8% year-over-year increase and surpassing consensus estimates by 0.11% [2][9] - Bitcoin production increased by 28% year-over-year, totaling 2,012 Bitcoin, with an average revenue per Bitcoin of $99,000, a 50% increase YoY [2] Profitability Metrics - Gross profit for Q3 fiscal 2025 increased by approximately $50 million year-over-year, achieving a profit margin of 55% due to higher Bitcoin prices and lower energy costs [4] - Operating income was reported at $246.2 million, a turnaround from a loss of $249.1 million in the previous year [5][9] - Adjusted EBITDA for the quarter was $377.7 million, compared to an adjusted EBITDA loss of $12.6 million in the same period last year [6] Operating Expenses - Operating expenses rose by 20.9% year-over-year to $36 million, with professional fees and payroll expenses as a percentage of revenue declining [5] Balance Sheet Overview - As of June 30, 2025, Cleanspark had cash and cash equivalents of $34.55 million, down from $96.9 million as of March 31, 2025 [7] - Total long-term debt was reported at $643.9 million, with total debt approximately $820 million [7] Future Earnings Estimates - The Zacks Consensus Estimate for Q4 fiscal 2025 earnings is 8 cents per share, reflecting a 129.63% year-over-year increase [8] - For fiscal 2025, the earnings estimate is 82 cents per share, with revenues projected at $769.59 million, indicating a year-over-year increase of 103.08% [10]

Leadership Change - CleanSpark 的创始人接任 CEO，此前 Zachary Bradford 辞职 [1]

Core Viewpoint - CleanSpark, Inc. has appointed Matt Schultz as the new CEO following the resignation of Zachary Bradford, aiming for stability and continuity during this leadership transition [1][3]. Group 1: Leadership Transition - Zachary Bradford has resigned as CEO and director of CleanSpark, effective immediately, with Matt Schultz stepping in as CEO [1]. - Schultz, a co-founder and former CEO, has been instrumental in the company's growth and capital raising efforts, making CleanSpark a leading bitcoin mining company in North America [2]. - Schultz emphasizes the importance of stability and continuity during this transition, while the board believes this change is timely to capture new opportunities [3]. Group 2: Company Strategy and Operations - CleanSpark reaffirms its strategic plans, focusing on continued execution as a global leader in bitcoin mining and further development of data centers [4]. - The company operates a portfolio of mining facilities across the U.S., leveraging competitive energy prices to optimize returns for shareholders [5]. - CleanSpark is positioned to capitalize on the intersection of bitcoin, energy, operational excellence, and capital stewardship [5].

Company Operations & Regulatory Risk - CleanSpark, a US-listed mining company, had some Bitcoin mining machines imported between April and June 2024 identified as originating in China by US Customs and Border Protection (CBP) [1] - The company potentially faces punitive tariffs of up to $185 million [1]