Cleanspark Stock Plunges As Q3 Revenue Misses Consensus

Cleanspark Inc CLSK reported third-quarter FY21 revenue growth of 250% year-on-year to $11.9 million, missing the analyst consensus of $15.2 million.
Cleanspark produced over 191 Bitcoins in Q3. It has produced 598 Bitcoins since acquiring its mining operations from December 10 through August 14.
The current hash rate capacity now exceeds 820 PH/s.
The basic loss per share was $(0.49). Net loss widened to $(16.7) million.
Adjusted EBITDA after incorporating non-recurring costs resulted in a non-GAAP net income for Q3 of $2.3 million, or $0.07 per share.
Cleanspark held $22.2 million in cash and equivalents.
CleanSpark continues to expand its total energy capacity to drive its bitcoin mining operations in Atlanta this fall.
CleanSpark sees continued growth in its Electric Vehicle (EV) charging initiative.
Price Action: CLSK shares traded lower by 19.4% at $11.07 on the last check Tuesday.

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