CleanSpark Reports Better-Than-Expected Q3 Results: Details

Financial Performance - CleanSpark reported quarterly earnings of 78 cents per share, exceeding the analyst consensus estimate of 10 cents [1] - Quarterly revenue reached $198.64 million, surpassing the Street estimate of $191.54 million and increasing from $104.1 million in the same period last year [1] Balance Sheet Highlights - At the end of the third quarter, CleanSpark's cash stood at $34.6 million, with a bitcoin treasury valued at $1.08 billion [5] - Total current assets amounted to $1.21 billion, while total mining assets, including prepaid deposits and deployed miners, were valued at $985.9 million [5] - The company's total assets reached $3.1 billion [5] Operational Achievements - CleanSpark achieved an operational hashrate of 50 EH/s in June, becoming the first public company to do so using exclusively American infrastructure [3] - The company reported a record basic EPS of 90 cents and nearly $200 million in revenue during this period [3] - CleanSpark has grown its bitcoin treasury to over $1 billion in value without raising capital through equity offerings since November 2024 [3] Market Reaction - Following the earnings report, CleanSpark's stock price increased by 1.21%, reaching $10.85 in extended trading [3]