Thu, May 8, 9:18 PM (46 days ago)
**CleanSpark, Inc. (CLSK) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $344,018,000 (up 85% YoY) driven by increased bitcoin prices. - **Net Income:** $107,999,000 (down 29% YoY) due to higher operating costs and non-cash losses. - **Cash Flow:** Negative $231,735,000 from operations, offset by $523,751,000 from financing activities. - **Bitcoin Holdings:** 11,869 BTC valued at $979,635,000, with 99% in cold storage. **Key Metrics:** - **Bitcoin Mining Revenue:** $181,712,000 (Q1), $344,018,000 (H1). - **Cost of Revenues:** $85,424,000 (Q1), $155,714,000 (H1), primarily energy costs. - **Depreciation & Amortization:** $78,901,000 (Q1), $145,130,000 (H1). - **Loss on Fair Value of Bitcoin:** $127,667,000 (Q1), $90,539,000 (H1). **Trends & Uncertainties:** - **Bitcoin Price Volatility:** Significant impact on revenue and earnings. - **Energy Costs:** Major expense, influenced by market rates and weather events. - **Mining Difficulty:** Increased due to halving, affecting profitability. - **Regulatory Risks:** Potential changes in U.S. policies and global trade relations. **Future Operations Impact:** - **Expansion Plans:** Continued growth in Wyoming, Georgia, and Tennessee. - **Treasury Management:** New bitcoin trading function for strategic growth. - **Liquidity:** Adequate cash and bitcoin reserves, with potential need for additional financing. **Notable Events:** - **GRIID Acquisition:** Completed in Q4 2024, enhancing mining capacity. - **Line of Credit:** Expanded to $200,000,000 with Coinbase. - **Legal Proceedings:** Ongoing litigation with potential impacts on financials. **Stock Information:** - **Ticker:** CLSK - **Outstanding Shares:** 280,900,178 (as of March 31, 2025) - **Market Cap:** Approximately $2.3 billion (based on current stock price) **Conclusion:** CleanSpark's Q1 2025 shows strong revenue growth driven by bitcoin price increases, but net income declined due to higher costs. The company faces challenges from bitcoin volatility, energy costs, and regulatory risks. Despite these, CleanSpark is expanding operations and managing liquidity effectively. Investors should monitor bitcoin price trends, regulatory developments, and the company's strategic initiatives.