CleanSpark (NASDAQ:CLSK) experienced a more than 22% surge pre-market today, following the Bitcoin mining company’s fiscal first-quarter earnings and revenue that exceeded Wall Street’s forecasts.
The company achieved an earnings per share (EPS) of $0.14, which notably outperformed the anticipated loss of $0.22 per share by analysts. CleanSpark’s revenue for the quarter was $73.8 million, surpassing the consensus expectation of $65.91 million.
Additionally, CleanSpark reported a significant boost in its liquidity, with its cash and cash equivalents climbing 66% quarter-over-quarter to $48.5 million. The company’s adjusted EBITDA for the quarter was $69.1 million, far exceeding the forecast of $21 million.
For the quarter ending December 31, 2023, CleanSpark announced a net income of $25.9 million, or $0.14 per share. This marks a remarkable recovery from the previous year’s same period, which saw a loss of $29.0 million, or $0.46 per share.
At CWEB, we are always looking to expand our network of strategic investors and partners. If you're interested in exploring investment opportunities or discussing potential partnerships and serious inquiries. Contact: jacque@cweb.com