CleanSpark(CLSK) - 2025 Q1 - Quarterly Results

Financial Performance - Quarterly revenue reached $162.3 million, a 120% increase from $73.8 million in the same prior fiscal quarter[4] - Net income for the quarter was $241.7 million, with a basic EPS of $0.85, compared to $25.9 million and $0.14 per share in the prior year[8] - Adjusted EBITDA increased to $321.6 million from $69.1 million year-over-year[8] - Bitcoin mining revenue for Q4 2024 reached $162.3 million, a significant increase of 120% compared to $73.8 million in Q4 2023[20] - Net income for Q4 2024 was $246.8 million, a substantial increase from $25.9 million in Q4 2023, reflecting a year-over-year growth of 855%[20] - Adjusted EBITDA for Q4 2024 was $321.6 million, compared to $69.1 million in Q4 2023, representing a year-over-year increase of 366%[23] - Income from operations per common share (basic) for Q4 2024 was $0.85, up from $0.14 in Q4 2023[21] - The company reported a gain on bitcoin collateral of $42.5 million in Q4 2024, contributing positively to overall income[20] - Income tax expense for Q4 2024 was $9.2 million, compared to $1.4 million in Q4 2023, reflecting increased profitability[20] - Preferred stock dividends increased to $5.1 million in Q4 2024 from $579,000 in Q4 2023, indicating a rise in shareholder returns[20] Cost and Expenses - The marginal cost to mine bitcoin decreased by 6% to approximately $34,000 per coin[1] - Total costs and expenses for Q4 2024 were $(47.7) million, compared to $45.3 million in Q4 2023, indicating a reduction in overall expenses[20] Assets and Liabilities - Total assets amounted to $2.8 billion, with total current assets at $1.2 billion[8] - Current liabilities were $96.7 million, while total liabilities stood at $757.7 million[8] Company Strategy and Growth - CleanSpark aims to achieve 50 EH/s in the first half of 2025 through regional expansion in Wyoming, Tennessee, and Georgia[2] - The company closed a $650 million convertible bond offering, enhancing its capital strategy[3] Bitcoin Holdings - The company’s bitcoin treasury grew to over 10,500 bitcoins, all self-mined in the USA[3]