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• CleanSpark narrowed its loss in its fiscal third quarter.
• The bitcoin mining firm had a blockbuster July.
• CleanSpark shares are up over 150% YTD at writing.

Bitcoin miner CleanSpark Inc is buying and selling barely up in prolonged hours after reporting a narrower-than-expected loss for its fiscal third quarter.

CleanSpark Q3 monetary highlights

Lost $14.2 million versus the year-ago $29.3 million

Per-share loss additionally narrowed from 40 cents to 12 cents

Revenue jumped 47% year-on-year to $45.5 million

Consensus was 17 cents loss on $45.7 million revenue

Ended the quarter with $125 million of money and bitcoin

The bitcoin mining firm now has belongings value greater than liabilities on its stability sheet. Gary Vecchiarelli – the Chief Financial Officer of CleanSpark stated in the present day in the press launch:

I like the flexibleness of our stability sheet and our operational efficiency. We have all items in place to increase our robust monitor file of growth and operational excellence.

CleanSpark had a blockbuster July

CleanSpark had its Georgia location go reside in July that added greater than 15,000 miners and 50 megawatts of energy, as per the press release.

The Nasdaq-listed agency trailed solely Marathon Digital and Core Scientific in phrases of the variety of bitcoin mined final month. According to its CEO Zach Bradford:

We have totally funded our growth to 16 EH/s, together with miners, services, and different infrastructure. We proceed to construct on our monitor file of executing on commitments.

The hash fee improved to 9 EH/s in its lately concluded quarter. At writing, shares of CleanSpark Inc are up greater than 150% versus the beginning of 2023. Its peer Marathon Digital additionally reports its quarterly replace earlier this week (read more).