Seeking Alpha
2021-12-15 16:04:43

CleanSpark shares dip after full-year earnings miss; sees hashrate capacity rising next year

Crypto miner CleanSpark's (NASDAQ:CLSK) full-year 2021 loss per share of $0.75 misses the consensus estimate by $0.35, though improves from a loss of $2.44 per share in the year ended Sep. 30, 2020, according to the company's annual report. Shares of (CLSK -10.6%) drop to as low as $10.82 per share intra-day, near its 52-week low at $10.40/share. On the other hand, FY revenues, of which the majority consists of crypto mining profits, of $49.44M beats the $45.6M estimate and jumps nearly five fold from $10.03M last year. "We expect that this growth will continue in the next year, as CleanSpark expands its mining capabilities, as we deploy more miners and seek out additional energy opportunities," CEO Zach Bradford said in the Q4 conference call. FY costs of $78.02M also soar from $25.2M in 2020. The company now has $23.6M worth of digital currency held on its balance sheet. The company

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