Bitcoin miner CleanSpark (CLSK) is considering strategic alternatives for its legacy energy business, aiming to focus solely on its bitcoin mining segment, the company said in a statement accompanying its quarterly earnings for the three months ended Dec. 31.
- “Focusing our efforts on our bitcoin mining segment allows the Company to capitalize on the tremendous opportunity bitcoin presents,” said Zach Bradford, CleanSpark’s CEO, in a statement.
- According to CleanSpark’s 2021 annual report, its energy hardware, software and services segment contributed about $9 million, or 18% of its annual revenue of $49.4 million.
- CleanSpark also reported that its first quarter revenue increased to $41.2 million, about 52% higher than the $27.1 million in the previous quarter.
- The company currently has 20,900 machines in operation with a total hashrate exceeding 2.1 Exahash/second and producing approximately 10 bitcoin per day.
- The miner’s stock was up about 8% in after hours trading following the release of its report.