Company: CLSKW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000950170-25-067219
Chunk: 11

Company: CLEANSPARK, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 11
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FASB”) issued Accounting Standards Codification (“ASC”) 350-60 which requires entities with certain crypto assets to subsequently measure such assets at fair value, with changes in fair value recorded in net income (loss) in each reporting period. Crypto assets that meet all the following criteria are within the scope of ASC 350-60: (1)meet the definition of intangible assets as defined in the Codification; (2)do not provide the asset holder with enforceable rights to or claims on underlying goods, services, or other assets;(3)are created or reside on a distributed ledger based on blockchain or similar technology; (4)are secured through cryptography; (5)are fungible; and (6)are not created or issued by the reporting entity or its related parties. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets.