TipRanks
2022-02-18 00:05:35

CleanSpark Stock: The Pivot Toward Bitcoin Mining Is Reaping Rewards

CleanSpark (CLSK) has been transitioning from an microgrid solutions provider to a fully-fledged bitcoin miner and going by investors’ reaction to its latest quarterly results, the plan seems to be working. Shares trended higher last week after the company delivered revenue of $41.2 million in FQ1, amounting to a new record. On the back of rising BTC mining revenue ($37 million), revenue jumped by 52% sequentially – with BTC mining revenue growing by 63% quarter-over-quarter. The year-over-year comparison shows a mighty 1733% jump.

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