CleanSpark announced large losses

203
Elena Klimovich

18:23 11/08/2022

203
CleanSpark announced large losses

Net loss of BTC-miner CleanSpark reached $29.3 million after the III quarter of the current financial year. Despite negative numbers in the previous quarter too, there wasn’t such amounts and reached $170 000 only. From the profit and loss statement the revenue during the last 3 month was $31 millions that is $11.6 millions lower than the previous period.

The major head of the company Zack Bradford replied that CleanSpark is going to maximize its profit, by using office rooms on its own, and optimize uptime. He admitted that CleanSpark acted very efficiently and bought new miners operatively. That’s why even during the bearish trend the rising is expected despite economic obstacles.

Earlier the information that the company bought a mining-object in Georgia state occurred. The cost is $16.2 and the seller is Waha Technologies. CleanSpark is eager to reach the 86 MWt level in 2023 that's why it is going to become pure BTC-miner and sell the energetic business. Gary A. Wekkiarelli, the financial director, said that this step will help to focus on the main business.

Reclassification of the energy business as discontinued operations allowed to fix losses at the $10,6 millions. There were 519 BTC at the CleanSpark’s reserves at the end of July.


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