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Nice channel CLSK $$$$
CoinDesk
@CoinDesk
Bitcoin miner CleanSpark is considering strategic alternatives for its legacy energy business so it can focus solely on mining, the company said in its latest earnings report. $CLSK
Bitcoin miner CleanSpark is considering strategic alternatives for its legacy energy business so it can focus solely on mining, the company said in its latest earnings report. $CLSK
— CoinDesk (@CoinDesk) February 9, 2022
By @Aoyon_Ahttps://t.co/bJfnjkvUt0
The firm seems to be doing bitcoin well despite bitcoin challenges: https://finance.yahoo.com/news/cleanspark-announces-january-2022-bitcoin-140000569.html
They funded a year's ops in January.
-p
FWIW....
IMF warns crypto rout could lead to systemic risk, backs Fed digital coin
https://finance.yahoo.com/news/imf-warns-crypto-winter-could-lead-to-systemic-risk-backs-fed-digital-coin-224508066.html?.tsrc=fin-notif
I was in the 18th Airborne Corps for a couple years back in the 80s. Godspeed gentlemen and ladies. I wouldn't want to be in your shoes today.
https://www.foxnews.com/politics/armys-82nd-airborne-among-multiple-units-that-have-been-placed-on-heightened-alert
And one other thing... I may be imagining this, but it seems like cryptos and the markets have become symbiotic. The movement of one seems to affect the other to a certain extent.
Maybe the truth lies in who is actually buying and selling and the demographic between the two may be similar.
Tesla's down about 100 today. In the event of continued correction, I could see it going into the 700s. Lucid is down, too. Looks like EVs took it in the shorts. The CEO of Ford just bought shares recently, so he'll be looking at a loss for a while. lol.
My best performing stocks right now are OTC pennies.
Makes a lot of sense. I think we see some breakdown next week, I mostly own small caps...can't see them going much lower, but the bigger cap stocks could use a haircut, don't you think? The Teslas, the Fords, the banks, etc...
My opinion only.... I think this is a fragile market. Some say Ukraine is already built into the prices and shouldn't affect the markets. I don't side with that idea. I believe there will be some effect. Combine that with the Fed raising interest rates in March, supply chain issues, inflation and who knows what all else, and I think we see lower prices this year. I don't think the bad stuff has peaked yet. But I expected recession last year or this anyway.
Next week I will buy, if it looks like Market will bottom. I think we go down more. People I follow say 26000 for Dow. Does not seem it will go that low...but I think tomorrow may really drop. WIll that make Bitcoin drop? maybe not, as their problems aren't really the economy/War...in fact, you could make a case War and Economy woes will benefit Bitcoin? What do you think?
I have. Unfortunately, with the ongoing correction and BTC dropping, it has negatively affected the stock price. But my cost basis is in the 5s now. And if it goes lower, I can get more as I'm mostly cash at this point.
You buying CLSK in 5's?
Governments don't like what they can't control.
One huge global power play going right now to de-legitimize crypto/Bit? Plays along with your previous article about Russia.
https://www.aljazeera.com/economy/2022/1/25/imf-urges-el-salvador-to-strip-bitcoins-legal-tender-status
Why Are Bitcoin, Ethereum, Dogecoin Crashing All Of A Sudden?
https://www.benzinga.com/markets/cryptocurrency/22/01/25152330/why-are-bitcoin-ethereum-dogecoin-crashing-all-of-a-sudden
CLSK price forecast
https://walletinvestor.com/stock-forecast/clsk-stock-prediction
Worth noting if you own shares in a bitcoin miner
https://www.benzinga.com/markets/cryptocurrency/22/01/24962830/bitcoin-ethereum-dogecoin-have-a-terrible-start-to-2022-why-this-analyst-thinks-short-term
Generally favorable. Seems to have a good idea of where he's going with this.
A couple links worth reading:
https://seekingalpha.com/article/4475256-cleanspark-inc-s-clsk-ceo-zach-bradford-on-q4-2021-results-earnings-call-transcript
https://wallmine.com/people/112967/zachary-bradford
Something to add- the acquisitions they have made have been quite impressive.
I've seen some people questioning the CEO, but he seems to be a strong asset. What do you think of the CEO?
I have to say, it is pretty impressive what they have done. Though I don't know the performance of other Bitcoin miners. They have in just a year or two created an infrastructure to produce revenue of $36M dollars a year (based on 900 coins sold, though they produced more in 2021, @ avg Bitcoin price of 40K). That after impressively creating a Micro-Grid Energy system solution, with revenue/customers!
I actually am impressed all over again...though it was a no-brainer to invest around $2. The CEO was very smart to create videos of himself describing the business on YOUtube; that is what got me to buy in...I understand tech, and was impressed with the tech.
I'll be trying to buy-in this year! This is a screaming buy, as long as bitcoin stabilizes...and at some point, it has got to plateau..as the current book value is 8.18!!? Thoughts on that? Is that out of date? Did they sell any of their Energy assets this year?
Appreciate all the info you shared! This is one of the best investments I made in 2020.
The Company added 500 PH/s in December, a 38% increase to its hashrate.
1 PH/s (one peta hash) is 1,000,000,000,000,000 (one quadrillion) hashes per second.
Hash rate is the speed at which a cryptocurrency mining device operates.
From Dec 29
CleanSpark: Stock Dips On Flat Energy Revenues
From the article: "Still, CLSK insists on growing its capital using non-dilution tactics such as selling BTC to fund operations and growth."
https://seekingalpha.com/article/4477252-cleanspark-stock-dips-on-flat-energy-revenues
Why Crypto Miners Cleanspark, Hut 8, and Bit Mining Plunged This Week
https://www.fool.com/investing/2022/01/07/why-these-3-crypto-miners-plunged-this-week/
What is your take on this Bitcoin production news? I'm still trying to get a grasp on this part of the business.
Thank you! I hope you find this discussion is beneficial to you as well.
I did a hypothetical of 'how many shares would they need to sell, to raise $20M (a wag at yearly cash needed), that would only be 2.5M shares @ current price of $8 approx.
So even if they did dilute, it wouldn't be a bad hit to value, that would be approx 6% blow to current shareholder value.
I see they say they have 47M in Working Capital, that could be a positive.
More impressive perhaps is the Book Value of Digital Currency: $23.6 million, or 627 bitcoins (fair market value $27.5 million).
Does this Bitcoin value only get accounted for in Assets, or is it also counted in 'Revenue'? That would explain how they increased REvenue so much. So they are holding the Bitcoin? That is good and bad. Have they said if they will hold all Bitcoins they create?
Overall, I'm looking at making a buy as soon as I like the chart. I think this is poised to rocket back up; unless they come out with bad news.
Ironically, my best performer today is a penny stock. It's up 22% from my cost basis. lol
COIN is taking a dump today as well, probably because of the drop in bitcoin and, honestly, that makes less sense because their revenue is based on trading activity. Probably just overall market sentiment as the Nas is down over 400 points. I have lightened my position in CLSK somewhat.
Plus, as I suspect we are going to go into recession this year - just a hunch on my part - then we'll see dramatic shifts all across the markets. I have most of my holdings in cash right now.
Cleanspark has been quiet with regards to energy technology and microgrid management outside of their bitcoin mining. My guess, as I haven't seen anything to refute it, is that with the pandemic and lockdowns and general chaos of the last two years, their energy tech business dropped off and they started mining bitcoin using their own technology to create sustainability. When they pegged to bitcoin like that, then their price generally tends to follow the coin's price. Here is info from their last filing: There's good and bad in it.
CleanSpark Reports Fourth Quarter and Fiscal Year 2021 Financial Results
Twelve-month revenue increased nearly 400% to $49.4 million from one year ago period
LAS VEGAS, Dec. 14, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the “Company”), a sustainable bitcoin mining and energy technology company today reported financial results for its fourth quarter and 2021 fiscal year.
The Company’s Annual Report on Form 10-K and accompanying financial statements are available at www.sec.gov and the Company website at https://www.cleanspark.com/investor-relations/sec-filings/
As previously announced, the Company is holding its annual earnings call today at 2 p.m. PT/5 p.m. ET. A recording and transcript of the call will be available shortly thereafter on the company’s website. A live version of the call is available at: https://services.choruscall.com/mediaframe/webcast.html?webcastid=OxACvcYn
Financial Highlights
Year ended September 30, 2021
Revenues for the year ended September 30, 2021 were $49.4 million, an increase of $39.4 million, or 400%, from $10.0 million for the same prior year period.
Net loss for the 12 months ended September 30, 2021 was ($21.8) million, or ($0.75) loss per share, compared to a loss of ($23.3) million, or ($2.44) loss per share, for the same prior year period, an improvement of $1.70 per share.
Adjusted EBITDA, a non-GAAP term, for the year ended September 30, 2021 was $9.0 million, or $0.31 gain per share, compared to ($10.2) million, or ($1.07) loss per share, for the same prior year period.
Three months ended September 30, 2021
Revenues for the three months ended September 30, 2021, were $27.1 million, an increase of $25.15 million, or nearly 1300%, from $1.95 million for the same prior year period.
Balance Sheet Highlights as of September 30, 2021
Assets
Cash: $18.0 Million
Book Value of Digital Currency: $23.6 million, or 627 bitcoins (fair market value $27.5 million)
Total Current assets: $57.7 million
Total Mining equipment: $123.2 million
Total deposits for future mining equipment: $88.0 million
Total Assets: $317.5 Million
Liabilities and Stockholders’ equity
Current Liabilities: $10.1 million
Total Liabilities: $11.8 million
Total Stockholders’ Equity: $305.7 million
Working capital
Working capital of $47.7 million as of September 30, 2021, compared to $2.9 million as of September 30, 2020, for an increase of $44.8 million.
Operational Highlights – Year ended September 30, 2021
Substantial real estate and energy acquisitions, including Norcross, GA, data center (20MW) and College Park, GA, data center (45MW+).
Quarter-over-quarter increase in revenue of nearly 1300%.
Exponential hashrate increase of zero to 1.3 EH/s in under a year.
About CleanSpark
CleanSpark, Inc., a Nevada corporation, is a sustainable bitcoin mining and energy technology company that is solving modern energy challenges. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .
[Please see attached PDF for financial tables.]
Non-GAAP Measures
Adjusted EBITDA and Adjusted EPS is not a measurement of financial performance under generally accepted accounting principles in the United States (“GAAP”). Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CleanSpark management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the Company's core business operating results and those of other companies, as well as providing the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.
The Company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The Company's adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. Our management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.
We are providing supplemental financial measures for (i) non-GAAP adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”) that excludes the impact of interest, taxes, depreciation, amortization, our share-based compensation expense, and impairment of assets, unrealized gains/losses on securities, certain financing costs, other non-cash items, certain non-recurring expenses, and impacts related to discontinued operations; and (ii) non-GAAP adjusted EBITDA and non-GAAP earnings per share that excludes the impact of interest, taxes, depreciation, amortization, our share-based compensation expense, and impairment of assets, unrealized gains/losses on securities, certain financing costs, other non-cash items, and impacts related to discontinued operations. These supplemental financial measures are not measurements of financial performance under GAAP and, as a result, these supplemental financial measures may not be comparable to similarly titled measures of other companies. Management uses these non-GAAP financial measures internally to help understand, manage, and evaluate our business performance and to help make operating decisions.
We believe that these non-GAAP financial measures are also useful to investors and analysts in comparing our performance across reporting periods on a consistent basis. The first supplemental financial measure excludes (i) impacts of interest, taxes, and depreciation; (ii) significant non-cash expenses such as our share-based compensation expense, unrealized gains/losses on securities, certain financing costs, other non-cash items that we believe are not reflective of our general business performance, and for which the accounting requires management judgment, and the resulting expenses could vary significantly in comparison to other companies; (iii) significant impairment losses related to long-lived and digital assets, which include our bitcoin for which the accounting requires significant estimates and judgment, and the resulting expenses could vary significantly in comparison to other companies; and (iv) and impacts related to discontinued operations that would not be applicable to our future business activities.
Non-GAAP financial measures are subject to material limitations as they are not in accordance with, or a substitute for, measurements prepared in accordance with GAAP. For example, we expect that share-based compensation expense, which is excluded from the first two non-GAAP financial measures, will continue to be a significant recurring expense over the coming years and is an important part of the compensation provided to certain employees, officers, and directors.
We have also excluded impairment losses on assets, including impairments of our digital currency our non-GAAP financial measures, which may continue to occur in future periods as a result of our continued holdings of significant amounts of bitcoin. Our non-GAAP financial measures are not meant to be considered in isolation and should be read only in conjunction with our Consolidated Financial Statements, which have been prepared in accordance with GAAP. We rely primarily on such Consolidated Financial Statements to understand, manage, and evaluate our business performance and use the non-GAAP financial measures only supplementally.
The following is a reconciliation of our non-GAAP adjusted EBITDA to the most directly comparable financial measure stated in accordance with GAAP, which excludes the impact of (i) interest, taxes, depreciation, amortization; (ii) our share-based compensation expense; (iii) impairment expense; (iv) unrealized gains/losses on securities; (v) and (vi) impacts related to discontinued operations, to its most directly comparable GAAP measures for the periods indicated.
[Please see attached PDF for financial tables.]
The following is a reconciliation of our non-GAAP adjusted EBITDA earnings per share, in each case excluding the impact of (i) interest, taxes, depreciation, amortization; (ii) our share-based compensation expense; (iii) impairment expense; (iv) unrealized gains/losses on securities; (v) certain financing costs and other non-cash items; (vi) certain non-recurring expenses; and (vii) impacts related to discontinued operations:
[Please see attached PDF for financial tables.]
The following is a reconciliation of fair market value of our digital currency holdings to the current carrying value at September 30, 2021. We did not hold any digital currency as of September 30, 2020:
[Please see attached PDF for financial tables.]
Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on logistics and shipping and the demand for our products and services; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.
Investor Relations Contact:
Matt Schultz
ir@cleanspark.com
Media Contacts:
Isaac Holyoak
pr@cleanspark.com
BlocksBridge Consulting
Nishant Sharma
cleanspark@blocksbridge.com
Hmm, down she goes. Chart not improving. Going to need a big volume day soon. Sounds like we are expecting an update soon about the Bitcoin mining results for December? Is that a regular thing? they update each month? Are they still doing any Power System work? What is the story on that? Was it stopped due to COVID? Are they only doing Bitcoin now? Do they sell equipment to support Bitcoin mining? Thanks for any info!
I've been nibbling in the 9s.
Have had too many other things going on to spend much time here.
Glad I held off on buying; I think we are getting close to a chart where I would buy. BUT, I suspect there may be a dilution coming. The price action seems to indicate something negative. Can anyone offer evidence to show they do not need to raise any cash? I find 41 million OS, and 38 M in float currently. 18M in cash on 9/30/21; all data per Etrade. But they burn approx 20M each year the last couple yrs.
The chart still is in a downtrend, and MACD is still negative. I'll be waiting for a better chart; but that could turn positive in a couple days.
Thoughts? Are you buying?
What I didn't find readily, is the Total Operating Expenses...and I want to see how they are doing to bring that down, if they are moving toward profit. If they dilute...that will be bad...share structure is great now. I I saw a post saying they had 22M cash back in Sept, and now I saw 18M. That bodes well, but need to see that burn rate...and where it seems to be going. Anyone already find it? I'll be looking at filing sometime this week.
Anyone watch the Earnings Call? Are they seeking acquisitions? Or anything else cash intensive? Or stock purchase intensive...as in giving away stock for an acquisition?
CoinDesk
@CoinDesk
CleanSpark’s total revenue rose 400% in its 2021 fiscal year, but the sustainable bitcoin mining and energy technology company also recorded a net loss of $21.8 million, or $0.75 per share.
TD Ameritrade Network
@TDANetwork
A solar energy business turned #bitcoin miner ??
With @CleanSpark_Inc shifting its focus to $BTC, CEO Zach Bradford details how $CLSK is different than other miners:
https://twitter.com/TDANetwork/status/1471151587552808967
Numbers aren't terrible. Quite an increase in revenue and decrease in loss. Unfortunately, it doesn't look like they met analyst estimates.
https://www.globenewswire.com/news-release/2021/12/14/2352152/0/en/CleanSpark-Reports-Fourth-Quarter-and-Fiscal-Year-2021-Financial-Results.html
https://www.marketwatch.com/investing/stock/clsk/analystestimates
hashrate is just the speed at which a computer can mine crypto.
I need to go look at numbers. Looks like the Q fell short based upon after hours action.
Thanks for sharing your knowledge.
Seems the EPS was not quite what was expected? that is based off someone's comments.
The cash is 18 M.
I need to figure out if that is enough for the next year. If it is, I'll def be looking to buy.
Hmm, yeah.
I'll need to learn a few more things about Bitcoin...I see some guys over on Yahoo talking about Hash Rate...do you know what that means?
Here's the share structure as of 12/10.
https://www.otcmarkets.com/stock/CLSK/security
Unfortunately, because they morphed into BTC mining, then their fortunes rise and fall with the coin. But I think anywhere around $10 is a buy zone and that's jmho and not meant to be investment advice.
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