Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 3

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 1
Chunk 3
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    677

    Gain on fair value of bitcoin (see Note 2 and Note 4)

    (218,206
    )

    (36,041
    )

    Depreciation and amortization

    66,229

    29,847

    Total costs and expenses
     
    $
    (47,670
    )
     
    $
    45,275

    Income from operations

    209,976

    28,511

    Other income (expense)

    Gain on bitcoin collateral

    42,493

    —

    Gain (loss) on derivative securities

    3,622

    (1,243
    )

    Interest income

    1,476

    586

    Interest expense

    (1,559
    )

    (546
    )

    Total other income (expense)
     
    $
    46,032

    $
    (1,203
    )

    Income before income tax expense

    256,008

    27,308

    Income tax expense

    9,217

    1,399

    Net income
     
    $
    246,791

    $
    25,909

    Preferred stock dividends

    5,141

    579

    Net income attributable to common shareholders
     
    $
    241,650

    $
    25,330

    Other comprehensive income

    32

    29

    Total comprehensive income attributable to common shareholders
     
    $
    241,682

    $
    25,359

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-3

CLEANSPARK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Continued)

(Unaudited, in thousands, except per share and share amounts)

    For the three months ended

    December 31,2024

    December 31,2023

    Income from operations per common share - basic
     
    $
    0.85

    $
    0.14

    Weighted average common shares outstanding - basic

    284,549,900

    178,809,264

    Income from operations per common share - diluted
     
    $
    0.83

    $
    0.14