CleanSpark delivered an outstanding financial quarter, but its market performance didn鈥檛 reflect the same strength. This analysis breaks down key financials, operational insights, and strategic directions to understand the full picture.
In 2024 Bitcoin miners saw revenue growth, but not all gains were equal. $BTBT soared +183.96% YoY (HPC/AI contributions), while $CLSK grew +150.47% YoY (hash rate expansion). $MARA (-24.11%) & $RIOT (-14.78%) posted negative gross margins. Who's winning? 馃憞
The total reported hash rate of public miners reached 318.09 EH/s at the end of 2024, accounting for over 35% of Bitcoin's total hash rate - a significant jump from 21% in 2023. IREN, CLSK, RIOT, and MARA achieved more than 100% YoY hash rate growth.
Discover how Bitcoin mining companies are navigating operational efficiency amid global layoff trends by examining their G&A expenses relative to revenue. Insights cover $MARA, $CLSK, $RIOT and other top miners.
CleanSpark's Q3 2024 report reveals rapid operation growth, boosting Bitcoin mining revenue by 129% (YoY) to $104.1M. However, a -$236.24M net income highlights financial risks associated with its aggressive expansion.
