CleanSpark, Inc

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Dec 162021

Bitcoin mining back on top

ClearSpark prices show a flicker of light after the sustainable Bitcoin mining firm releases Q4 earnings.

  • CleanSpark ended Wednesday up 3.3%, despite falling 12% in the first few hours of trading to reach its lowest levels in over a year.
  • Q4 revenues of $27.1m beat analysts expectations of $23.3m, but the bottom end was less positive.
  • Its FY revenue was up a whopping 400% at $49.4m, very nearly beating its own goal of $50m in revenue for the full year.
  • It reported a loss per share of $0.07 when analysts expected earnings per share of the same amount. But over the full year, losses per share of $0.45 were still better than 2020’s $2.44.
  • Things are looking up. It scaled its hashrate from zero to 1.3 exahashes/second in the last year, and it just bought a new cooling structure that should boost mining efficiency by 20%.
  • Its prices often move in tandem with Bitcoin so they’ve been under pressure this year, and CEO Zach Bradford thinks the company is “incredibly undervalued.”
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Marko Ahtisaari / Wikimedia Commons

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