.CleanSpark_Inc is selling off its energy business to focus on bitcoin mining as it sets itself the goal of running 22.4 EH/s of computing power by the end of 2023. $CLSK egreechee reports
CleanSpark – reporting results for its fiscal third quarter – said it will sell its energy business assets in order to focus completely on bitcoin mining.
The firm reported a $29.3 million net loss for the third quarter of its fiscal year, in part driven by the reclassification of the energy business to be discontinued, which resulted in a $10.6 million impairment charge. Revenue of $31 million missed analyst estimates for $34.5 million, according to FactSet data. Adjusted EBITDA of $15.2 million was down from $22.5 million the previous quarter.
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