WTR Fireside Chat Series: An Overview of the Dynamic Changes in the Bitcoin Mining Industry with CleanSpark CEO Zach Bradford
|52 Week Range||$3.02-$42.60|
|Avg. Daily Vol. (30 day)||1,555,209|
|Shares Out (MM)||34|
|Market Cap (MM)||$534.80|
|Insiders Own %||5.7%|
|Short Int./% of Float||3,426k / 10.6%|
|Debt to Equity||0.6%|
|Revenue TTM (MM)||$15.8|
|Fiscal Year End||September|
- On Wednesday, July 14, 2021, at 11:30 am EDT, we will be hosting CleanSpark’s CEO, Zach Bradford, to discuss an update on the recent activity and changes in the bitcoin mining industry. The event is open to all investors.
- Topics covered are expected to include CleanSpark's increasing bitcoin mining hashrate capacity, the positive impacts of decreasing bitcoin difficulty, the impacts of China's bitcoin ban, and the company's carbon-neutral mining strategy. The conversation is also expected to discuss industry topics like regulation, mining difficulty rate fluctuation, and the relocation of Chinese mining companies.
- CleanSpark is a software and component company aligned to the fast-growing market for microgrids and bitcoin mining. The company’s software intelligently models and manages microgrids to save money and optimize performance, providing an attractive ROI for customers.
- Management expects the company to generate revenues of $47-67 million in FY21 with $16-20 million from the energy business, $1.0 million in digital agency, and $30-40 million in bitcoin mining.
- 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.
The company is a relatively small 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 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 revenues, and bitcoin price fluctuations would impact the profitability of the operation.
On Wednesday, July 14, 2021, at 11:30 am EDT, we will be hosting CleanSpark’s CEO, Zach Bradford, to discuss an update on the recent activity and changes in the bitcoin mining industry. The event is open to all investors.
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