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CleanSpark Stock: Buy, Sell, or Hold?

TheMotleyFool

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CleanSpark Stock: Buy, Sell, or Hold?: https://g.foolcdn.com/editorial/images/786843/bitcoin-tokens.jpg

CleanSpark's (NASDAQ: CLSK) shares declined 6% on Aug. 9 after its latest earnings report fell short of Wall Street's expectations. For the third quarter of fiscal 2024 (ended June 30), the low-carbon Bitcoin (CRYPTO: BTC) miner's revenue surged 129% year over year to $104.1 million but it missed analysts' estimates by $6.8 million.

Its net loss widened from $14.1 million to $236.2 million, or $1.03 per share, which also missed the average forecast for a loss of $0.04 per share. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss slipped to negative $12.7 million, compared to a positive adjusted EBITDA of $13.3 million a year ago.

Image source: Getty Images.

Source Fool.com

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