![]() Wainwright & Co, increased his target price from $6 to $12 following the result and reiterated his ‘buy’ call, stating that “strong execution continues despite a tough macro backdrop for miners”. The figure declined -30% compared to Q2 with the reduction attributed to a falling BTC/USD price.ĬleanSpark’s stock rose +27.8% on the 10th of August as the market digested the result, but has since erased the gains and more, trending lower again with the Bitcoin spot price. The figure however missed forecasts of $34.5 million by ~10%.ĭo you know which under-the-radar stocks the top hedge funds and institutional investors are investing in right now? Click here to find out.ĬLSK clearly stood out with its positive adjusted EBITDA of $15.2 million vs a consensus forecast of $11.6 million. The miner generated $31 million in revenue, growing 342.5% on the $9 million generated in 2021. The company posted negative EPS of -39 cents compared to a forecast of -15 cents by the three sell-side analysts that cover the stock. CleanSpark's 3Q EarningsĬleanSpark also provided their third quarter earnings update at the time of the transaction release. In conjunction with the transaction, CLSK also spent about $8.9 million on ~3,400 units of the latest generation Antminer S19 Bitcoin mining machines which are already operating at the facility. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Finding a qualified financial advisor doesn't have to be hard.
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