![]() ![]() I'm here with Zach Bradford, our Chief Executive Officer and Gary Vecchiarelli, our Chief Financial Officer. Our press release was issued about 30 minutes ago and is available on our website at Today's call is also being webcast and a replay and transcript will be available on our website. ![]() Thanks, Abby, and thank you for joining us today for our fiscal third quarter financial results call, covering the period April 1, 2023, through June 30, 2023. Thank you.Īnd at this time, I would like to turn the floor over to Isaac Holyoak, Chief Communications Officer. After the speakers' remarks, there will be a question-and-answer session. ![]() All lines have been placed on mute to prevent any background noise. At this time, I would like to welcome everyone to CleanSpark's Fiscal Third Quarter Financial Results Conference Call. My name is Abby and I'll be your conference operator today. Isaac Holyoak - Chief Communications Officer ( NASDAQ: CLSK) Q3 2023 Earnings Call Transcript Aug4:30 PM ET Join us on Telegram and follow us on Google News.CleanSpark, Inc. Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief.Ĭan’t wait? Get our news the fastest way possible. Subscribe to Blockworks’ free newsletter now. Get the day’s top crypto news and insights delivered to your email every evening. It has a 52-week low of $1.74 and a high of $7.60. The stock, which trades under ticker symbol CLSK, closed at $5.05 Wednesday. “Once all the XPs that are on hand or ordered are plugged in and hashing, we expect to see our efficiency…coming in at approximately 25 joules per terrahash.”ĬleanSpark’s stock is up roughly 150% year to date, though it’s down nearly 23% in the past month. “This is good but not good enough for us,” Bradford said. It’s also focusing heavily on efficiency.Īs of July, its fleetwide efficiency was 29 joules per terrahash. However, the company isn’t just focused on raw numbers of miners or mining locations. The data center in the city of Dalton, which CleanSpark acquired last quarter, is now running at “full capacity,” Bradford said.ĬleanSpark also got the mining location in Washington up and running in July, which added 50 megawatts of power and over 15,000 mining machines to its overall operation. The additional miners that have been purchased and the buildup of Sandersville are fully funded, according to Bradford.ĬleanSpark’s other sites in Georgia are also contributing to the hashing gains throughout 2023. “We are now set to nearly double our hash rate in a matter of a few months with the expansion of Sandersville site,” Bradford said. The site currently operates at about 80 megawatts, but the upgrade will add 150 megawatts. Many of those miners are set to be a part of the expansion of CleanSpark’s data center in Sandersville, Georgia. The Nevada-headquartered company boasts a total miner fleet of around 150,000 units, with another 60,000 on hand or pending delivery, Bradford said on the call. Now, although there can be no guarantee this will occur, if it does, we would expect to see substantial inflows of funds into Bitcoin,” Bradford said. ![]() “ track record suggests that they believe there is a path to successfully launch an ETF. But he also pointed out that there are trillions of dollars worth of assets under management by the firms applying, which he said he believes could jumpstart bitcoin if the ETFs prove popular. This somewhat reflects Galaxy CEO Mike Novogratz’s statement on Tuesday that the process of the SEC reviewing these ETF applications probably has a six month window.īradford is in particular watching BlackRock, the largest asset manager in the world and a major player in the race to a bitcoin spot ETF. He expects approvals of bitcoin spot ETFs in “a matter of months, not years.” On Wednesday, CleanSpark released third quarter earnings, reporting an operating hash rate of 9 exahashes per second and a 47% revenue jump compared with the same period last year.ĬleanSpark CEO Zach Bradford announced that the company’s year-end goal of reaching 16 exahashes per second (EH/s) is fully funded, which includes miners, facilities and other infrastructure, he said on an earnings call.īradford said CleanSpark is well positioned in the market and expressed excitement for the future of the world’s largest digital asset, citing the recent spate of bitcoin spot ETF applications. ![]()
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