CleanSpark(CLSK) - 2024 Q4 - Annual Results

Revenue Growth - Revenue grew 125% year over year to $378.9 million in FY 2024[1][5] - Bitcoin mining revenue increased to $378,968K in 2024, up 125.4% from $168,121K in 2023[19] - Total revenues rose to $378,968K in 2024, a 125.1% increase from $168,408K in 2023[19] Hashrate and Bitcoin Production - Current hashrate surpassed 33.5 EH/s, on track to reach 37 EH/s by year-end[1] - Company produced approximately 7,100 BTC in FY 2024[3] - Company aims to reach 50 EH/s and beyond in 2025[2] Financial Performance - Adjusted EBITDA increased to $245.8 million, up from $25.0 million in the prior fiscal year[6] - Net loss for FY 2024 was ($145.8) million, compared to ($138.1) million in the prior year[5] - Adjusted EBITDA improved significantly to $245,848K in 2024, up 882.5% from $25,028K in 2023[22] - Net loss attributable to common shareholders widened to $149,199K in 2024, up 8.0% from $138,148K in 2023[19] Assets and Holdings - Total assets reached $2.0 billion as of September 30, 2024[6] - Bitcoin holdings valued at $509.5 million, including 8,049 BTC at $63,301 per BTC[6] - Total current assets stood at $705.4 million as of September 30, 2024[6] Operating Portfolio Expansion - Operating portfolio expanded to 726 MW, adding 423 MW in FY 2024[2] Expenses and Impairment - Cost of revenues (excluding depreciation and amortization) grew to $165,516K in 2024, up 76.9% from $93,580K in 2023[19] - Impairment expense for fixed assets surged to $197,041K in 2024, compared to $0 in 2023[19] - Depreciation and amortization expenses increased to $154,609K in 2024, up 28.1% from $120,728K in 2023[19] Shareholder Metrics - Weighted average common shares outstanding - basic expanded to 216,860,819 in 2024, a 111.2% increase from 102,707,509 in 2023[20]