Q4 2024 CleanSpark Inc Earnings Call Transcript
Key Points
- Cleanspark Inc (CLSK) reported a significant increase in revenue, reaching $378.9 million, a 125% growth from the previous fiscal year.
- The company achieved an impressive adjusted EBITDA of $245.8 million, marking an 882% increase over the prior year.
- Cleanspark Inc (CLSK) has successfully expanded its operational power capacity to over 726 megawatts, supporting a substantial increase in hash rate.
- The company has secured price certainty for ASIC miners, ensuring stability in future hardware costs.
- Cleanspark Inc (CLSK) maintains one of the lowest all-in power costs in the industry, enhancing its competitive position.
- Cleanspark Inc (CLSK) reported a GAAP net loss of approximately $145.8 million for the fiscal year 2024.
- The company faced a non-cash impairment expense of $197 million, impacting its financial results.
- Hurricane Helene caused operational disruptions, leading to a revenue loss of approximately $1 million per day during the outage.
- The cost to mine Bitcoin increased significantly in Q4, reaching approximately $36,250 per Bitcoin.
- There is potential tariff risk on ASIC miners, which could impact future hardware costs.
Good afternoon. My name is Chris and I will be your conference operator today. At this time, I would like to welcome everyone to our conference call. All lines have been placed on mute to prevent any background noise. And after the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. And if you'd like to withdraw that question again, press star one. Thank you. And at this time, I would like to turn the floor over to Brittany Moore, Director of Investor Relations.
Thank you Christa and welcome to Clean Spark fiscal full year financial results call covering the period October 1st 2023 through September 30th 2024.
Our press release was issued about 30 minutes ago and is available on our website at Clean Spark dotcom.
Today's call is also being webcast and a replay and transcript will be available on our website on the call with me are Zach Bradford, our Chief
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