CleanSpark, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2022
May 10, 2022 at 04:03 pm EDT
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CleanSpark, Inc. reported earnings results for the second quarter and six months ended March 31, 2022. For the second quarter, the company reported revenue was USD 41.64 million compared to USD 8.12 million a year ago. Net loss was USD 0.170735 million compared to net income of USD 7.4 million a year ago.
For the six months, revenue was USD 82.88 million compared to USD 10.38 million a year ago. Net income was USD 14.32 million compared to USD 0.23251 million a year ago. Basic earnings per share from continuing operations was USD 0.34. Diluted earnings per share from continuing operations was USD 0.34.
CleanSpark, Inc. is a bitcoin mining company. The Company independently owns and operates approximately eight data centers in Georgia for a total developed capacity of 230 megawatts (MW). The Company is engaged in developing an additional 150 MW at its data center in Sandersville, Georgia. It does not host miners for any other companies, and has a partner in Massena, New York, who hosts approximately 50 MW for the Company. It operates around bitcoin mining machines, with a hash rate capacity of approximately 15 Exa hashes per second (EH/s) and a fleetwide efficiency of 28.4 joules per tera hash (J/TH). The Company's subsidiaries include ATL Data Centers LLC, CleanBlok, Inc., CleanSpark DW, LLC, CleanSpark GLP, LLC, CSRE Properties Norcross, LLC, CSRE Property Management Company, LLC, CSRE Properties, LLC, CSRE Properties Washington, LLC, CSRE Properties Dalton, LLC, and CleanSpark HQ, LLC.