Latest news with #Cleanspark
Yahoo
3 hours ago
- Business
- Yahoo
Cleanspark Share Price Dips 8% Despite Strong Q3 Earnings Growth
Cleanspark CLSK shares have lost 7.9% since the company reported its third-quarter fiscal 2025 results on Aug. 7. The decline can be primarily attributed to the challenging macroeconomic environment and tariff the third quarter of 2025, CLSK reported earnings of 78 cents per share against the year-ago quarter's loss of $1.03 per of $198.6 million climbed 90.8% year over year and beat the consensus mark by 0.11%. The growth was driven by increased Bitcoin production and higher Bitcoin prices. In the third quarter of fiscal 2025, the company produced 2,012 Bitcoin a 28% increase year-over-year. Average Revenue Per Bitcoin was $99,000, which increased 50% YoY. Cost per Bitcoin in the third quarter fiscal 2025 was $44,806, which was far below the average spot price of approximately $98,500 during the same shares have gained 7.2% year to date, underperforming the Zacks Computer & Technology sector's 9.3% return. Cleanspark, Inc. Price, Consensus and EPS Surprise Cleanspark, Inc. price-consensus-eps-surprise-chart | Cleanspark, Inc. Quote CLSK Q3 Operating Details In the third quarter of fiscal 2025, gross profit increased approximately $50 million year over year with a profit margin of 55%,driven by higher Bitcoin prices and lower energy costs. In the third quarter of fiscal 2025, operating expenses increased 20.9% year over year to $36 million. In the reported quarter, Professional fees and Payroll expenses, as a percentage of revenue, declined 270 bps and 820 bps, respectively. General and administrative expenses expanded 40 bps year over the third quarter of fiscal 2025, operating income was $246.2 million against the year-ago quarter's loss of $249.1 the third quarter of fiscal 2025, adjusted EBITDA was $377.7 million against an adjusted EBITDA loss of $12.6 million in the year-ago period. CLSK Balance Sheet Details As of June 30, 2025, Cleanspark had cash and cash equivalents of $34.55 million compared with $96.9 million as of March 31, 2025. As of June 30, 2025, CLSK's total long-term debt, net of debt discount & issuance costs, was $643.9 million. As of June 30, 2025, total debt stands at approximately $820 million. CLSK Earnings Estimates Show Upward Movement For the fourth quarter of fiscal 2025, the Zacks Consensus Estimate for earnings is pegged at 8 cents per share, which has increased 3 cents over the past 30 days, indicating a year-over-year increase of 129.63%.The Zacks Consensus Estimate for the fourth quarter of fiscal 2025 revenues is pegged at $232.09 million, indicating a year-over-year increase of 159.96%.For fiscal 2025, the Zacks Consensus Estimate for earnings is pegged at 82 cents per share, which has increased 32% over the past 30 days, indicating a year-over-year increase of 415.38%.The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $769.59 million, indicating a year-over-year increase of 103.08%. Zacks Rank & Other Stocks to Consider Cleanspark currently sports a Zacks Rank #1 (Strong Buy).Some other top-ranked stocks in the broader Zacks Computer and Technology sector are Autodesk ADSK, Applied Materials AMAT, and Cisco Systems CSCO. Each stock carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks is set to report second-quarter fiscal 2026 results on Aug. 28. Autodesk shares have lost 3.7% year to Materials is slated to report third-quarter fiscal 2025 results on Aug. 14. Applied Materials Power shares have gained 13.6% year to Systems is set to report fourth-quarter fiscal 2025 results on Aug. 13. Cisco Systems shares have rallied 19.4% year to date. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report Autodesk, Inc. (ADSK) : Free Stock Analysis Report Applied Materials, Inc. (AMAT) : Free Stock Analysis Report Cleanspark, Inc. (CLSK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
7 days ago
- Business
- Yahoo
CleanSpark Set to Report Q3 Earnings: What's in the Cards for the Stock?
CleanSpark CLSK is scheduled to report third-quarter fiscal 2025 results on Aug. Zacks Consensus Estimate for fiscal third-quarter 2025 revenues is pegged at $195.1 million, suggesting a 87.4% year-over-year consensus mark for earnings is pegged at break-even, narrower by 2 cents over the past 30 days. CLSK reported earnings of 1 cent in the year-ago earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the remaining one, delivering a negative earnings surprise of 59.29%, on average. Cleanspark, Inc. Price and EPS Surprise Cleanspark, Inc. price-eps-surprise | Cleanspark, Inc. Quote Let us see how things have shaped up for the upcoming announcement. Key Factors to Note for CLSK's Q3 CleanSpark's fiscal third-quarter performance is expected to have benefited from its strategic investments in energy-efficient infrastructure. As of March 31, the company had a total contracted power capacity of approximately 915 megawatts ('MW') across the United States, spanning over 30 locations in Georgia, Mississippi, Tennessee and Wyoming. As of March 31, 2025, the company's operating mining units could produce more than 42.4 exahash per second ('EH/s') of computing power. Hashrate is a measure of the computing and processing power and speed by which a mining computer mines and processes transactions on the Bitcoin network. CLSK hit 50 EH/s in the to-be-reported April, May, and June, CleanSpark produced 633, 694 and 685 Bitcoins, respectively. As of June 30, 2025, CleanSpark's total Bitcoin holding was 12,608. CleanSpark's transition from a nearly 100% HODL (hold-on-for-dear-life) Bitcoin treasury approach to a more balanced monetization strategy through selling a portion of mined Bitcoin to fund operations has been a key catalyst. The company sold 578.51 bitcoins in the to-be-reported quarter. CLSK's focus on achieving low marginal cost per Bitcoin is expected to have benefited profitability in the fiscal third quarter. What Our Model Says Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the exact case currently has an Earnings ESP of +2000.02% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Other Stocks to Consider Here are some companies worth considering, as our model shows that these, too, have the right combination of elements to beat on earnings in their upcoming releases:Lumentum LITE currently has an Earnings ESP of +5.12% and a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks shares are up 32.3% year to date. Lumentum is set to report its fourth-quarter fiscal 2025 results on Aug. Technologies PGY has an Earnings ESP of +2.19% and has a Zacks Rank of #1 at present. Pagaya shares have surged 246.7% year to date. Pagaya is set to report its second-quarter 2025 results on Aug. G presently has an Earnings ESP of +0.78% and a Zacks Rank #2. Genpact shares have dropped 1% year to date. Genpact is scheduled to report its second-quarter 2025 results on Aug. 7. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Genpact Limited (G) : Free Stock Analysis Report Lumentum Holdings Inc. (LITE) : Free Stock Analysis Report Cleanspark, Inc. (CLSK) : Free Stock Analysis Report Pagaya Technologies Ltd. (PGY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Crypto Insight
30-06-2025
- Business
- Crypto Insight
Metaplanet surpasses Cleanspark with $108M Bitcoin buy
Japanese Bitcoin treasury firm Metaplanet has surpassed mining company Cleanspark in becoming the fifth-largest corporate holder of Bitcoin after buying another 1,005 BTC for $108 million. The firm now holds 13,350 BTC acquired for around $1.31 billion at around $97,832 per Bitcoin. At current market prices, the treasury is worth $1.45 billion. Bitcoin mining company CleanSpark holds 12,502 BTC, according to BiTBO. The firm has eclipsed Tesla, Hut 8, Coinbase and Block Inc. in Bitcoin treasury size and now only trails Strategy, Marathon Digital, Twenty One Capital and Riot Platforms. Metaplanet CEO Simon Gerovich said the aggregate price per coin for its latest purchase was $107,601, and the firm has achieved a BTC yield of 349% year-to-date. $208 million in bonds to buy more Bitcoin The latest purchase also comes after announcing a bond refinancing strategy to fund more purchases. Metaplanet's strategic bond refinancing involved issuing 30 billion yen ($208 million) in 0% ordinary bonds from its EVO fund to purchase additional Bitcoin. With this issuance, the firm will also buy back and cancel its third series ordinary bonds worth 1.75 billion yen ($12 million), which carried an annual interest rate of 0.36%, so it has effectively secured an interest-free loan and cash float for more BTC. 'Funds raised through the issuance of the new bonds will be partially allocated to the buyback and cancellation, with the remainder used for the purchase of Bitcoin,' the disclosure stated. Metaplanet stock jumps 9% Earlier this month, Metaplanet revised its accumulation strategy with plans to hold 100,000 BTC by 2026, increasing its target from 21,000 BTC. The firm also announced plans to raise $5.4 billion and acquire a whopping 210,000 Bitcoin by 2027. This would make it the world's second-largest corporate holder of the asset if the current standings remain. There was a strong reaction for the company's stock in Japan on Monday, with a 9% jump in price. Shares in the firm have skyrocketed more than 350% since the beginning of 2025, according to Google Finance. Saylor hints at more Meanwhile, Strategy founder Michael Saylor has hinted at another Bitcoin purchase with his regular weekend post of the portfolio tracker, which has preceded a Monday acquisition in previous weeks. 'In 21 years, you'll wish you'd bought more,' Saylor said, captioning the chart. 'We buy every day. And still, I know I'll look back wishing we had moved even faster,' Simon Gerovich replied. Source:
CNBC
24-06-2025
- Business
- CNBC
Stocks making the biggest moves midday: Uber, Carnival, Advance Auto Parts, Snowflake & more
Check out the companies making the biggest moves midday: Carnival — The cruise line jumped nearly 7% after beating second quarter earnings and revenue that topped analysts' expectations. Carnival reported adjusted earnings of 35 cents per share on revenue of $6.33 billion. Analysts were expecting earnings of 25 cents per share on revenue of $6.21 billion, according to FactSet. Other cruise operators followed Carnival higher. Norwegian Cruise Line gained almost 5%, while Royal Caribbean and Viking Holdings both advanced more than 2%. Uber — The rideshare platform climbed nearly 8%. Waymo is now offering robotaxi rides to the public in Atlanta through the Uber app . Airlines — Airlines rose following a drop in oil prices after President Donald Trump announced a ceasefire in Iran and Israel. Frontier Group climbed 6%, while Alaska Air and American Airlines popped roughly 4%. United Airlines gained around 2% along with Delta. JetBlue advanced 4%. Advance Auto Parts — The specialty retail stock dropped close to 9% after being downgraded to sell from neutral at Goldman Sachs. The investment firm said that Advanced Auto Parts might be losing market share to its main rivals and that the stock appears to be trading at an extended valuation. Cleanspark – Shares of the bitcoin miner jumped more than 9%. On Tuesday, Cleanspark announced that it achieved its mid-year operational hashrate target of 50 exahashes per second. Operational hashrate is a measure of computing power for mining bitcoin. Coinbase – Shares of the crypto exchange operator popped 10% as cryptocurrencies climbed, demonstrating the digital asset market's reactive nature to global geopolitical events and leading other providers of crypto trading services higher. Robinhood and eToro each gained about 6%. Galaxy Digital , a crypto focused financial services firm, advanced 5%. Defense stocks — Defense stocks fell after Trump said Tuesday that a ceasefire in the Iran-Israel conflict is in effect. Shares of Lockheed Martin and RTX 2.6% and 3.2%, respectively. Kratos Defense & Security Solutions slid almost 6%. Oil — Oil stocks were modestly lower after Trump announced a ceasefire in effect between Israel and Iran. Exxon Mobil dropped more than 2%, while Chevron dipped 1.8%. The Energy Select Services Sector SPDR Fund (XLE) dropped 1%. Visa , Mastercard — Visa and Mastercard both rose more than 2% after Wells Fargo reiterated overweight ratings on both payments providers, saying investors should take advantage of the recent pullback. First Financial Bancorp — Shares gained 1.7% after the Cincinnati-based bank agreed to buy Westfield Bancorp from Ohio Farmers Insurance Company for $325 million in cash and stock. Thor Industries — The owner of RV brands gained almost 2% after authorizing a $400 million buyback. Snowflake — The cloud-based online data storage company rose 4% after Morgan Stanley upgraded it to overweight from equal weight. The investment bank, which says Snowflake has more than 22% upside, is confident artificial intelligence growth will boost the stock. — CNBC's Michelle Fox, Alex Harring, Jesse Pound, Sean Conlon, Sarah Min and Tanaya Macheel contributed reporting.
Business Insider
13-06-2025
- Business
- Business Insider
BTIG Sticks to Their Buy Rating for Cleanspark (CLSK)
In a report released today, Gregory Lewis from BTIG reiterated a Buy rating on Cleanspark (CLSK – Research Report), with a price target of $22.00. The company's shares opened today at $9.39. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Lewis covers the Energy sector, focusing on stocks such as Borr Drilling, TechnipFMC, and Golar LNG. According to TipRanks, Lewis has an average return of 2.1% and a 45.81% success rate on recommended stocks. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cleanspark with a $19.00 average price target, a 102.34% upside from current levels. In a report released today, J.P. Morgan also maintained a Buy rating on the stock with a $14.00 price target. Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CLSK in relation to earlier this year.
