Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 12

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 12
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 use bitcoin as collateral for lending arrangements. In April 2025, we launched an institutional-grade in-house trading function as we shift to a balanced approach between monetizing new production and building long-term holdings, and we plan to continue to integrate these strategies into our regular treasury management activities. As part of this strategy, we began entering into bitcoin-linked derivative contracts to economically hedge the volatility of bitcoin prices and to generate liquidity in support of core operating activities. These contracts serve as a strategic alternative to selling bitcoin directly and are intended to monetize our bitcoin holdings while managing exposure to adverse price movements. The types of derivatives utilized for this purpose may include bitcoin futures, options, and other structured instruments. These contracts are typically short-term in nature and may be cash-settled or settled in-kind. Treasury management activities may serve cash management, strategic growth, or bitcoin balance hedging, incremental other income or other general corporate purposes. Currently, we do not employ a fixed formula for when or how much bitcoin to sell, and decisions are made by management based on working capital needs, real-time market conditions, risk management objectives, and broader strategic considerations.The value of bitcoin has historically been subject to wide swings. The following table provides a range of intraday low and intraday high bitcoin prices between October 1, 2022 through September 30, 2025.

     Range of intraday bitcoin prices

     Quarterly Reporting Periods Ended
      
     Minimum Price

     Maximum Price

     December 31, 2022
      
     $
     15,460

     $
     21,479

     March 31, 2023

     16,490

     29,190

     June 30, 2023

     24,750

     31,444

     September 30, 2023

     24,900

     31,862

     December 31, 2023

     26,521

     45,000

     March 31, 2024

     38,501

     73,836

     June 30, 2024

     56,500

     72,777

     September 30, 2024

     49,050

     68,244

     December 31, 2024

     58,864

     108,389

     March 31, 2025

     76,555

     109,358