WTR Fireside Chat Series: Bitcoin Mining Deep-Dive with CleanSpark CEO Zach Bradford
|52 Week Range||$6.92-$42.60|
|Avg. Daily Vol. (30 day)||1,534,811|
|Shares Out (MM)||35.6|
|Market Cap (MM)||$381.50|
|Insiders Own %||8.4%|
|Short Int./% of Float||4,080k / 12.4%|
|Debt to Equity||0.5%|
|Revenue TTM (MM)||$24.2|
|Fiscal Year End||September|
- On Tuesday, August 24, 2021, at 1:30 pm EDT, we will be hosting CleanSpark CEO Zach Bradford in our Sustainable Investing Fireside Chat Series. We will be covering a deep-dive on CleanSpark's bitcoin mining operation focusing on the recent increase in hashrate capacity, the associated margin opportunity, and outlook for this business. The event is open to all investors.
- CleanSpark is in the business of providing advanced software, controls, and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. The company and its subsidiaries also own and operate a fleet of bitcoin miners at its facility outside of Atlanta, Georgia.
- Our prior content on CLSK can be accessed HERE.
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The market for microgrids is in a long-term secular growth trend, and CleanSpark is well-positioned to capitalize on this as it offers a differentiated, vendor agnostic software and hardware solution that provides significant ROI for customers. Additionally, CleanSpark is focused on scaling its bitcoin mining operation using ~100% low carbon energy and believes this business can contribute $30-40 million in revenue in FY21 and over $325 million in annualized revenue by September 2022. Currently, CleanSpark contributes ~1% of the global bitcoin capacity.
The company is a smaller player in an industry dominated by much larger, well-capitalized competitors. CleanSpark has proven its ability to compete effectively but will need to continue to expand its sales network and ensure its technology agnostic software platform evolves with the industry. On the bitcoin side of the equation, an increase in mining difficulty rates would reduce the company’s bitcoin yield and associated revenue, and bitcoin price fluctuations would impact the profitability of the operation.
On Tuesday, August 24, 2021, at 1:30 pm EDT, we will be hosting CleanSpark CEO Zach Bradford in our Sustainable Investing Fireside Chat Series. We will be covering a deep-dive on CleanSpark's bitcoin mining operation focusing on the recent increase in hashrate capacity, the associated margin opportunity, and outlook for this business. The event is open to all investors.
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