CleanSpark, MicroStrategy and Marathon Shares Are Moving On Thursday: What's Going On?

CleanSpark, Inc. CLSK, MicroStrategy Incorporated MSTR and Marathon Digital Holdings, Inc. MARA shares initially traded higher before paring gains on Thursday in sympathy with Iris Energy IREN after the company reported earnings.

What Happened: Iris Energy reported 2024 fiscal year earnings after the market closed on Wednesday.

The company reported Bitcoin BTC/USD revenue of $184.1 million. During the fiscal year, the company mined 4,191 Bitcoin. For the 2023 fiscal year, Iris Energy had reported Bitcoin mining revenue of $75.5 million and had mined 3,259 Bitcoin.

Iris Energy reported that it increased its self-mining capacity from 5.6 EH/s to 10 EH/s throughout the fiscal year. In addition, the company said it is on track for 30 EH/s in 2024. As of August 28, the company has 15 EH/s installed and anticipates having 20 EH/s next month and 30 EH/s in the next four months.

The company also reported revenue of $3.1 million from AI Cloud Services.

In addition, Bitcoin is moving higher Thursday, currently trading at approximately $60,504, according to data from Benzinga Pro.

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Price Action: At the time of writing, CleanSpark stock is trading 0.7% higher at $10.76, MicroStrategy shares are moving 0.6% lower at $131.21 and Marathon stock is moving 1.26% lower at $16.92 per data from Benzinga Pro.

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