CleanSpark Inc (CLSK)

[zeusgodmd]

Last hour will be a good sell off will see I’m out will get back in after the fall of this one

[zeusgodmd]

Will buy back at 320 bit coin 25 over weekend will see have to have patience and goals

[zeusgodmd]

Bitcoin still going down it will settle then get back in for the ride up. My call was tomorrow and I take money when I’m up.

[price_and_volume]

Easy money is well-earned money.

Pick your spots, take your shots.

Nice job.

[zeusgodmd]

Made 69k today in one day betting on the short. 175000 shares easy money. I would play it both ways. It so far has a hard time getting over 5$

[price_and_volume]

Good call.

will fall to 425

[zeusgodmd]

Will see if I’m right Bitcoin tanking

[price_and_volume]

If you say so, you're the god...

$CLSK vs $BTC (in red) YTD:

[zeusgodmd]

Price has been following Bitcoin movement it dipped today and this stock dipped same with riot

[price_and_volume]

Please clarify:

It’s filling Bitcoin will fall to 425

I'm guessing you mean "it's FOLLOWING $BTC lower and $CLSK will tag $4.25...

Sure, that looks possible.

High-volume-node support pretty clear at $4 fwiw.

[zeusgodmd]

It’s filling Bitcoin will fall to 425

[zeusgodmd]

Bit coin up we up tomorrow

[zeusgodmd]

Bitcoin up tonight we will see another good day good luck to all

[zeusgodmd]

Should follow riot going up

[price_and_volume]

A/S getting bumped from 100MM to 300MM.

See today's 8K.

[pcjockey]

I'm a hopeful skeptic.

I think the crypto market is similar to the OTC in that fraud is not uncommon.

Besides, in the microgrid biz, the company was dealing with hard assets and service.

[Nealio]

Has this Silvercoin fail got you doubting the Bitcoin biz case?

[pcjockey]

Wonder if CLSK could demothball its microgrid energy control business.

Key Bitcoin price metrics point to BTC downside below $22.5K

https://cointelegraph.com/news/key-bitcoin-price-metrics-point-to-btc-downside-below-22-5k

[pcjockey]

Well, last year there was the FTX fiasco which weighed heavily on crypto markets. Not sure that Silvergate will have the same effect, but if CLSK insists on range trading, I'll look for the lows.

[Nealio]

Hmm, thanks for the info.
Guess we'll see how it all plays out. That will probably keep me out for now too. Strange it doesn't seem to be getting much interest on financial sites, is it being hidden? Crypto is not even down on the day.

[pcjockey]

Nealio.... I have divested all CLSK for now due to this

https://finance.yahoo.com/news/crypto-stocks-fall-silvergate-crisis-114647327.html?.tsrc=fin-notif

[pcjockey]

Thanks for the recommendation.

re: CLSK. I'm staying pretty light for now, but still watch it regularly. I'm thinking more downside at this point.

[Nealio]

CLSK- I'm thinking of buying...are you in with some conviction now? Or waiting for a dip to $2 area?

I bought APRN last week on a swing trade too, in case anyone is looking for a rip. I like the chart.

[price_and_volume]

Worth-a-listen: "$CLSK Co-Founder on the importance of Bitcoin mining"

Joe Burnett interviews Matthew Schultz, Executive Chariman and Co-Founder of $CLSK.

Joe and Matthew discuss $CLSK's strategic acquisition of 20,000 new S19j Pro+'s, why BTC mining is so important for energy grids, how $CLSK was able to thrive in the bear market, etc

https://podcasts.apple.com/us/podcast/$clsk-co-founder-on-the-importance-of-bitcoin-mining/id1587713723?i=1000601278924

[pcjockey]

When your financials are based on a volatile currency.

Revenues for the quarter were $27.8 million, a decrease of $9.3 million, or 25%, from $37.1 million for the same prior year period. The Company recognized a net loss for the three months ended December 31, 2022, of $(29.0) million, compared to net income of $14.5 million for the same prior year period.

[Nealio]

In answer to your PM, I don't own CLSK.
I liked it a lot more as a Smart Grid/Tech play; not so enamored with Bitcoin. That said, if I had cash freed, I would have probably bought in the $2 area. GL

[jgrabar]

A securities fraud class action alleging wrongdoing committed by certain of CleanSpark’s Officers and directors has survived a motion to dismiss the complaint. See https://grabarlaw.com/the-latest/cleanspark-shareholder-investigation/

[conix]

CLSK has the capital to pick up crypto mining assets on the cheap. I bought a few miners before the end of the year and doing pretty good so far.

[Nealio]

I briefly looked at the Annual/Quarterly Report: One business tactic stood out, and that was how you decide to sell or hold the Bitcoin you produce. This is one aspect that could have a large effect on their profitability. If they have a skilled analyst or have a proven method, that could be a big positive. That analyst should have been able to show performance on how they handled this since they entered the Bitcoin sector.
Anyone see specifics on that in the latest financials? Or did CEO speak to it in Conf Call?
Thanks!

[pcjockey]

I have bought a little, but staying pretty light.

Bitcoin, all crypto, is an issue right now.

Didn't get in on the conference.

As far as I'm concerned, CLSK has hitched its wagon to bitcoin and unless they change their business model, that's all I need to know.

[Nealio]

Anyone buying here? I still have not dipped my foot again. Chart does not look good yet. Maybe next week it will bottom.
Anyone have a take on the latest conference call? is there any fallback, if Bitcoin does not look favorable in 2023? I did'nt have time to dig that deep into the financials. Was it discussed in the Conf Call? Thanks!

[pcjockey]

How bitcoin is mined.

https://www.bankrate.com/investing/what-is-bitcoin-mining/#how

[pcjockey]

I have a small amount of CLSK right now. Still watching to see how the FTX fiasco will finish up.

I have been in and around crypto for a few years now. It was once thought to be a possible hedge against inflation, but that has turned out to not be the case. It pretty well tracks what the stock market does often. Except, of course, when its own news affects the price ala FTX.

[Nealio]

In a follow-up message, the company said they are going to sell the energy related assets; sounds like they may have already started to...said it will be detailed in the conference call. They are a good company; I just am a bit uncertain of the crypto sector...are you holding shares now? Have you bought any recently? I might, I need to re-evaluate where the Bitcoin industry is headed. Where do you research Bitcoin?

[pcjockey]

Or at least spin it off as a subsidiary. But that would have meant more capital outlay.

[Nealio]

Well, I got a quick response to the question about whether CLSK still does any Energy Independence grid work; they have discontinued it, and that is in the filings from the last year or two he said. They are 100% bitcoin-mining, which the trademark would indicate. As engineer, that is a shame...I wonder why they didn't sell that part of their business!?? It seemed like very valuable proprietary tech. Maybe I'm wrong that it is proprietary...and is easily reverse engineered by other companies...?

[Nealio]

I had not! Not sure what to think of that...
I finally sent of a questoin about if Cleanspark is still pursuing Energy Independence solutions. Look forward to this conference call mid month.

[pcjockey]

Have you noticed that they trademarked this?

America’s Bitcoin Miner™

[Nealio]

I haven't read their quarterly's lately...but I'll try to send a question to the CEO or Investor relations. The CEO was always very communicative.

[pcjockey]

Well, it's all really conjecture on my part. No one knows what the company is doing beyond acquiring more mining machines as that's what they have PRed of late. Maybe they figure they can keep the revenue stream up with sheer volume to compensate for the lower bitcoin pricing. Dunno.

[Nealio]

Appreciate the input. So no mention of any diversification to their business plan for future? Covid should not be an issue now, thought they should always be thinking to plan around it happening again and have workarounds. Thanks.

[pcjockey]

I may have said this before, and I don't have any info to support it, but I suspect the lcckdowns of 2020 put a real dent in the original business model. Given the nature of that model and the fact that crypto was going strong, I think CLSK saw a reasonable way to keep the revenue stream going through mining. Given that bitcoin didn't turn out to be a hedge against inflation like everyone thought it might be and that crypto prices started tracking with equities, the bear market really affected bitcoin's price. Also, the FTX fiasco has been a boat anchor as well.

[Nealio]

Wow, this stock is suffering mightily, after tying itself so wholly to Bitcoin. I thought it was a mistake not to continue with their Smart Energy systems work; which I thought was best-in-class(I'm an engineer and was mightily impressed with their tech). Or am I wrong that they have virtually shut down that part of their business? What have they said recently about long-range business plans? From the fact all they PR about is their Bitcoin rates/accomplisments, that would lead any market follower/analyst to think they are strictly pursuing Bitcoin.

[Spicknspan]

CLSK has the access to capital and looks to grow as other miners go out of business. That last acquisition in big for them.

[rayank]

IMO we are primed for a double in 6 months or so.

[BLACKBIRDSR-71]

https://www.defenseworld.net/2022/04/14/sharing-economy-international-otcmktsseii-and-cleanspark-nasdaqclsk-head-to-head-analysis.html

[pcjockey]

I think the Nas could get down to the 10,000-11,000 range. Maybe lower. Some are saying the next crash will be worse than blah blah blah (pick a year), so there's that.

[Nealio]

Coming into buy range...hope I can time it right. Anything changed on fundamentals with CLSK?
Hope you made a nice round-trip. I'm hearing Dow 29000 may be a good bottom for general market...anyone got a possible bottom for Nasdaq?

[pcjockey]

CleanSpark secures $35 million in debt capital

Bitcoin miner CleanSpark announced on Tuesday that it raised $35 million in non-dilutive equipment financing.

The company closed a three-year deal with Trinity Capital Inc. backed by 3,336 new S19j Pro miners and with an annual interest rate of 9.9%.

The new capital will be used for CleanSpark's growth capital expenditures.

The company recently announced that it would expand mining capacity by 200 megawatts in west Texas until the spring of 2023, with the goal of adding an extra 300 megawatts in the future.

“We intend to continue our efforts of obtaining non-dilutive capital to finance our growth capex needs,” said CFO of CleanSpark Gary Vecchiarelli. “It is worth noting that we have not drawn on our ATM since November.”

CleanSpark currently owns 23,000 “latest-generation” bitcoin mining machines and is waiting on the delivery of approximately 12,000 new ones, per the announcement.

[350z]

https://www.forbes.com/sites/danrunkevicius/2022/04/07/a-new-petro-asset-this-historic-move-could-send-bitcoins-price-to-1-million-meanwhile-ethereum-bnb-terra-xrp-solana-cardano-dogecoin-are-sinking/?sh=2385ed711ee8