Cleanspark Inc (CLSK) Posts Stellar Q1 FY2024 Results with 165% Revenue Surge
- Revenue Growth: Cleanspark Inc (NASDAQ:CLSK) reported a 165% year-over-year increase in revenue, reaching $73.8 million.
- Net Income: The company achieved a net income of $25.9 million, a substantial improvement from the previous year's loss of $29.0 million.
- Adjusted EBITDA: Adjusted EBITDA soared to $69.1 million, reversing from a negative $2.0 million in the same period last year.
- Hashrate Expansion: Current hashrate surpassed 12.5 EH/s, with a target to reach 20 EH/s in the first half of the year.
- Balance Sheet Strength: Total assets stood at $862.7 million, with a strong working capital position of $139.3 million.
- Stockholders' Equity: Total stockholders' equity was reported at $810.6 million, indicating robust financial health.
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