Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 147

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 147
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    $
    76,080

    $
    36,884

    Direct cost to mine one bitcoin as % of average bitcoin mining revenue - Direct Hosting fees only

    87.1
    %

    61.3
    %

    Direct cost to mine one bitcoin as % of average bitcoin mining revenue - Including miner depreciation expense

    87.1
    %

    114.4
    %

    Statistics

    Hosted Facilities

    Total bitcoin mined at hosted facilities

    128

    309

    Bitcoin mining revenue - Hosted facilities - ($ in thousands)
     
    $
    9,746

    $
    11,386

    Total miners in service in hosted facilities - as of the periods ended

    14,930

    16,325

    Total KWHs utilized

    121,977,227

    104,598,890

    Total hosting fee expense - ($ in thousands)
     
    $
    8,491

    $
    6,983

    Hosting fee per KWH
     
    $
    0.070

    $
    0.067

    Hosting fee expense as percentage of bitcoin mining revenue, net

    87.1
    %

    61.3
    %

    Depreciation Expense - Miners Only - ($ in thousands)
     
    $
    1

    $
    6,039

(1) Average revenue of each bitcoin mined is calculated by dividing the sum of bitcoin mining revenue for hosted facilities by the total number of bitcoin mined within the hosted facilities during the respective periods. We have determined that Coinbase is the principal market for valuing bitcoin transactions and use the closing prices as of 23:59:59 UTC as the source of recording revenue. See the table “Range of intraday bitcoin prices” for information on the range of intraday bitcoin prices for quarterly periods since September 30, 2023.

For our co-locations, hosting fees (which comprise direct operating costs of the third-party operator with energy as the largest cost) and profit sharing were a combined 87.1% and 61.3% as a percentage of bitcoin mining revenues during the three months ended December 31, 2024 and 2023, respectively. 

At our hosted facilities, the hosting fee as compared to KWHs utilized in the hosted facilities was $0.070 and $0.067