CleanSpark: Well Positioned For The Future

Mike Fay
5.73K Followers

Summary

  • CleanSpark reported a 15% increase in revenue in Q3, with full-year revenue slightly missing expectations.
  • The company had a larger than anticipated operating loss due in part to a depreciation charge related to out-of-service miners.
  • CleanSpark has seen an 82% increase in stock price in the last month and is on track for a strong fourth quarter for revenue.
  • In my view, management has navigated crypto winter well and is heading into the halving with right tools.
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I last covered CleanSpark (NASDAQ:CLSK) for Seeking Alpha in late August. At that time, the company was operating 9 EH/s and the stock was trading a little under $6 per share. In response to the release of the company's full 2023 fiscal year

This article was written by

5.73K Followers
Former media research analyst. Main coverage areas are crypto, BTC miners, metal, and media equities. I'm not an investment advisor. I just share what I do with my own capital and why. Outside of Seeking Alpha, I also write the Heretic Speculator newsletter over at Substack.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of CLSK, BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I'm not an investment advisor.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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