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Dec 31, 2024
Cleanspark Q1 2025 Earnings Report
CleanSpark reported strong financial results for the first quarter of fiscal year 2025, with significant increases in revenue and net income.
Key Takeaways
CleanSpark, Inc. announced a robust first quarter for fiscal year 2025, with revenues soaring to $162.3 million, a 120% increase year-over-year, and net income reaching $241.7 million. The company also reported a basic EPS of $0.85 and a decrease in marginal cost per coin to approximately $34,000 at owned facilities.
Quarterly revenues were $162.3 million, an increase of 120% from the prior year.
Net income for the quarter was $241.7 million, or $0.85 per basic share.
Marginal cost per coin decreased by 6% to approximately $34,000 at owned facilities.
Adjusted EBITDA increased to $321.6 million from $69.1 million in the same period a year ago.
Cleanspark
Cleanspark
Cleanspark Revenue by Segment
Revenue by Segment
Bitcoin Mining Revenue
CapyFin.com Forward Guidance
CleanSpark anticipates continued growth, aiming to achieve 50 EH/s in the first half of 2025 through expansion and greenfield projects in existing and new regions.
Positive Outlook
- Expects to achieve 50 EH/s in the first half of 2025.
- Growth will occur in existing communities through expansion and greenfield projects.
- Replicating regional expansion strategy nationally.
- Utilizing institutional grade bitcoin treasury team and strategy.
- Continued investment in self-mining bitcoin at a lower cost than spot prices.
Challenges Ahead
- Risk that electrical power available to facilities does not increase as expected.
- Volatile and unpredictable cycles in the emerging and evolving industries.
- Increasing difficulty rates for bitcoin mining.
- New or additional governmental regulation.
- Dependency on utility rate structures and government incentive programs.