The remaining $4.6 million came from its energy segment, which is, in my opinion, increasingly irrelevant to the company CleanSpark should sell that unit and use the capital for operations.Īdjusted EBITDA from the prior quarter reveals how the low price of Bitcoin has had an impact on the company's performance. Management attributed much of those gains as a result of investments in infrastructure and mining equipment. Mining revenues accounted for $37 million of the total. Revenue in Q2 jumped to $41.6 million, up more than 4x from the $8.1 million generated in Q2 of 2021. In this article we'll look at its most recent earnings numbers and what the future may hold for the company and its shareholders. That said, the company has been able to acquire more mining equipment at bargain prices, so if can survive the low-cost Bitcoin environment it's now operating in, when the price of Bitcoin sustainably rebounds, it could potentially leverage the boost in price from the increase in the number of mining machines it employs at that time. It is undergoing the same struggles its peers are going through as a result of the continual downward pressure on the price of Bitcoin, and the FUD surrounding it. Suphansa Subruayying/iStock via Getty ImagesĬleanSpark ( NASDAQ: CLSK) is a relatively unknown Bitcoin ( BTC-USD) miner competing in the crypto sector.
0 kommentar(er)
