Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 77

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 2
Chunk 77
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owatt hour (“KWH”) utilized within our owned facilities. 

    For the Three Months Ended

    Cost of Revenues - Analysis of costs to mine one bitcoin (per bitcoin amounts are actual)
     
    December 31,2024

    December 31,2023

    Cost of Mining - Owned Facilities

    Cost of energy per bitcoin mined
     
    $
    33,928

    $
    12,783

    Other direct costs of mining - non energy utilities per bitcoin mined

    83

    25

    Cost to mine one bitcoin - Direct Energy Cost - Owned facilities
     
    $
    34,011

    $
    12,808

    Miner depreciation per bitcoin mined

    31,949

    11,384

    Financing costs per bitcoin mined

    98

    237

    Direct cost to mine including non-cash depreciation and financing costs - Owned facilities
     
    $
    66,058

    $
    24,429

    Average revenue of each bitcoin mined (1)
     
    $
    83,962

    $
    36,472

    Direct cost to mine one bitcoin as % of average bitcoin mining revenue - Including direct energy cost only

    40.5
    %

    35.1
    %

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

    78.7
    %

    67.0
    %

    Statistics

    Owned Facilities

    Total bitcoin mined at owned facilities

    1,817

    1,711

    Bitcoin mining revenue - Owned facilities - ($ in thousands)
     
    $
    152,561

    $
    62,400

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

    186,878

    72,234

    Total KWHs utilized

    1,251,929,017

    495,197,028

    Total energy expense - ($ in thousands)
     
    $
    61,649

    $
    21,871

    Cost per KWH
     
    $
    0.049

    $
    0.044

    Energy expense as percentage of bitcoin mining revenue, net

    40.4
    %

    35.0
    %

    Other direct costs of mining -