Why Bitcoin Mining Stock Cleanspark Is Falling Today

Cleanspark Inc CLSK is trading lower Wednesday after the compay announced mixed fiscal fourth-quarter financial results.

Cleanspark reported a quarterly earnings loss of 15 cents per share, which came in below the estimate for earnings of 7 cents per share. The company reported quarterly revenue of $27.14 million, which beat the estimate of $23.26 million.

Fiscal-year 2021 revenues totaled $49.4 million, representing an increase of 400% year-over-year.

Cleanspark finished the quarter with $18 million in cash and 627 Bitcoins. Total assets reached $317.5 million during the company's fourth-quarter.

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Cleanspark is a sustainable bitcoin mining and energy technology company that is focused on solving modern energy challenges.

CLSK Price Action: Cleanspark has traded as high as $42.60 and as low as $10.40 over a 52-week period.

The stock was down 11.60% at $10.71 at time of publication.

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Photo: SergDE from Pixabay.