Last night, “America’s Bitcoin Miner,” CleanSpark, shocked the Street with a Q1 earnings beat.
The company unexpectedly posted a profit as revenues grew 165% YoY, and its current hash rate eclipsed 12.5 EH/s (exahashes per second).
CleanSpark CEO, Zach Bradford commented on the impressive results,
“Our eyes are set on harnessing our momentum to further accelerate our growth and continue delivering unmatched value to our stakeholders as we work to execute on our commitment of 20 exahashes per second in the first half of this year.”
Prior to its earnings beat, CleanSpark announced it acquired two new bitcoin mining facilities in Mississippi and Georgia in an effort to increase its hash rate to 20EH/s.
$CLSK surged to its best day since May 5th, 2020, and closed at its highest price since December 2021.
Here’s a chart shared on Stocktwits by Thelonius_Stonk. He writes,
“Massive move on most daily volume in its history tagged the downtrend line from Jan ’21 and will print highest weekly close since Nov ’21. Impressive. Whether it takes time to get through this key level is yet to be seen.”
