Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 80

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 2
Chunk 80
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 dividing direct interest expense on our miner financing agreement by the number of bitcoin mined in our owned facilities. On a cost per bitcoin ratio, financing costs were $98 and $237 for the three months ended December 31, 2024 and 2023, respectively. 

10

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 KWH utilized within our hosted 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 - Hosted Facilities

    Direct hosting fees expense per one bitcoin
     
    $
    66,288

    $
    22,621

    Miner depreciation per bitcoin mined

    4

    19,564

    Direct cost to mine including non-cash depreciation - Hosted facilities
     
    $
    66,292

    $
    42,185

    Average revenue of each bitcoin mined (1)
     
    $
    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
    %