CleanSpark Q3 earnings: Revenue $104.1 million, net loss $236.2 million
CleanSpark, a listed Bitcoin mining company, released its third-quarter financial report. The revenue for the third quarter was $104.1 million, an increase of $58.6 million or 129% compared to the same period last year, when it was $45.5 million. CleanSpark's net loss for the third quarter was $236.2 million, while it was $14.1 million in the same period last year. CleanSpark mined 1583 bitcoins in the third quarter. As of June 30th, CleanSpark's balance sheet had $129.2 million in cash, $413 million in bitcoin, $598.8 million in total current assets, and $625.8 million in total mining assets (including prepaid deposits and deployed mining machines). As of June 30, 2024, the company had operating capital of $531.9 million and debt of $11 million.
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