Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 143

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 143
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 EH/s)

    39.1

    10.0

    CleanSpark percentage of total global hashrate

    4.87
    %

    1.80
    %

    (1)  Total global hashrate obtained as of December 31, 2024 and 2023 were from Hashrate index (https://data.hashrateindex.com/network-data/network) using SMA 7 days and YCHARTS (https://ycharts.com/indicators/bitcoin_network_hash_rate), respectively.

    (2) Watts of energy required to produce each terahash of processing power.  Based on miner fleet operating at period end.

As of December 31, 2024, our operating hashrate was approximately 4.87% of the total global hashrate, and we received approximately the same percentage of the global blockchain rewards, which as of that date equaled approximately 21-22 bitcoin per day, excluding the bitcoin earned from network transaction fees. Ultimately, in order to mine profitably, we work to ensure that these mining rewards cover our direct operating costs. 

8

The table below describes the average cost of mining each bitcoin for the three months ended December 31, 2024 and 2023 and the total energy usage and cost per each kilowatt 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