According to Foresight News, publicly traded Bitcoin mining company CleanSpark has released its third-quarter financial report. The company reported a revenue of $104.1 million for the third quarter, a substantial increase from $45.5 million in the same period last year, marking a 129% growth. However, CleanSpark also reported a net loss of $236.2 million for the quarter, compared to a loss of $14.1 million in the previous year.
During the third quarter, CleanSpark mined a total of 1,583 Bitcoins. As of June 30, the company's balance sheet showed $129.2 million in cash, $413 million in Bitcoin, $598.8 million in total current assets, and $625.8 million in total mining assets, which includes prepaid deposits and deployed mining machines. By June 30, 2024, CleanSpark's working capital is projected to be $531.9 million, with a debt of $11 million.
