CleanSpark Reports Record Q3 Revenue of Nearly $200 Million, Highlighting Growth in Bitcoin Mining Potential
Main Idea
CleanSpark reported record Q3 revenue of $198.6 million, a 91% year-on-year increase, with significant profitability and growth in Bitcoin holdings, though the market response was cautious.
Key Points
1. CleanSpark's Q3 revenue reached $198.6 million, a 91% increase compared to the same quarter last year.
2. The company reported a net income of $257.4 million, compared to a loss of $236.2 million in the previous year.
3. CleanSpark holds 12,703 BTC, valued at approximately $1.48 billion, making it one of the largest Bitcoin holders among public companies.
4. Despite strong earnings, CleanSpark’s shares fell over 2.5% to $10.72, indicating a cautious market response.
5. CleanSpark achieved 50 exahashes per second in Bitcoin mining, becoming the first public company to do so exclusively with American infrastructure.
Description
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