Fortunately, CleanSpark said, the supply chain is being shored up and a large number of batteries were received into inventory in June and July. This strong sales growth has resulted in a very robust backlog that is expected to result in positive revenue growth over the next several quarters.Īlthough it is seeing strong sales growth, the energy industry as a whole is still encountering certain global supply chain constraints, such as the tight battery supply experienced in the company's past quarter. CleanSpark executed over $6.0 million in additional energy-related contracts last quarter and increased its quarter-over-quarter revenues by 61%. The company continues to see strong growth trends in the energy business. This capacity, in turn, would result in $1.2 to $1.3 million per day, or $446 million to $480 million in annualized revenue, using a Bitcoin price of $47,000.ĬleanSpark said it has also seen continued growth in its Electric Vehicle (EV) charging initiative, with 15 EV companies now using the company's OpenADR software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid. In the quarter ended June 30, 2021, the company produced more than 191 Bitcoins and has produced an aggregate of 598 Bitcoins since acquiring its mining operations on December 10, 2021, through August 14, 2021.ĬleanSpark has over 22,000 of the latest generation Bitmain S19 and S19 Pro mining rigs scheduled to arrive and be installed over the next 12 to 14 months, and it expects to place additional orders in the near future to continue growing its mining fleet beyond what it has currently ordered.Īs a result of these pre-orders, the hash rate is expected to increase to 3.4 EH/s. For perspective, at current difficulty rates, if the full 3.4 EH/s of capacity were in place today it would result in 26 to 28 bitcoins per day. Adjusted EBITDA after incorporation of non-recurring costs for the nine months was $6.2 million, or $0.23 earnings per share, compared to a net loss of $3.9 million, or $0.56 loss per share, for the same prior-year period, an improvement of $0.79 per share. The three-month adjusted EBITDA after incorporation of non-recurring costs was net income of $2.3 million, or $0.07 earnings per share, compared to a net loss of $1.1 million, or $0.10 loss per share, for the same prior-year period, an improvement of $0.17 per share.įor the nine months ended June 30, 2021, the company's revenues were $22.3 million, an increase of $14.2 million, or 176%, from $8.1 million for the same prior-year period, with a net loss for period of $16.4 million, or $0.60 loss per share, compared to a loss of $16.3 million, or $2.32 loss per share, for the same prior-year period, an improvement of $1.72 per share.ĬleanSpark's nine-month adjusted EBITDA net loss was $2.7 million, or $0.10 loss per share, compared to a loss of $4.1 million, or $0.58 loss per share, for the same prior-year period. READ: CleanSpark closes acquisition of an additional nearly 87,000 square foot data center in GeorgiaĬleanSpark's adjusted EBITDA loss for the three-month period was $3.6 million, or a $0.11 loss per share, compared to a loss of $1.1 million, or $0.1) loss per share, for the same prior-year period. The group's net loss for the three months ended June 30, 2021, was $16.7 million, or a $0.49 basic loss per share, compared to a loss of $8.5 million, or $0.77 loss per share, for the same prior-year period-an improvement of $0.28 per share. The company had working capital of $39.9 million as of June 30, 2021, compared to $2.9 million as of September 30, 2020, an increase of $37.0 million.įor the three months ended June 30, 2021, CleanSpark reported revenue of $11.9 million, an increase of $8.5 million, or 250%, from $3.4 million for the same prior-year period. has reported results for the three and nine-month periods ended June 30, 2021, showing very strong revenue growth and a big boost to working capital.
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