“We believe the company’s core energy and software business could benefit from improving sales cycles as COVID-19 related execution headwinds subside,” the 5-star analyst said.
Wainwright analyst expects any deviations – higher or lower – to be due to bitcoin price fluctuations.Īlthough going by Dayal’s outlook, the analyst is anticipating upward movement with a strong 2021, further building on the current momentum. This forecast is based on the core Energy and Digital Agency segments bringing in $20 million, and the recently acquired bitcoin mining operation adding another $8 million.Īmit Dayal’s estimates are roughly the same. Looking ahead, CleanSpark expects revenue of $28 million for FY2021. Overall, in FY20, CleanSpark saw revenue increase by 122% to $10 million, more than doubling for the third consecutive year. While earnings came in at a loss of $0.14 per share, the figure beat the Street’s call by $0.10, and significantly improved last year’s EPS loss of $2.59 for the same period. In F4Q20, revenue hit $1.95 million, indicating ~16% year-over-year drop and missing the estimates by $0.17 million. The news followed the release of the company’s latest quarterly results. The company also said it had put in an order for 500 extra mining units which will be placed at the ATL location in Atlanta, GA and are expected to arrive in mid-January. The acquisition is already yielding results Last Friday, CleanSpark announced it had mined 10 bitcoins in December (1 bitcoin is currently worth roughly $23,700). The microgrid software specialist’s recent purchase of bitcoin miner ATL Data Centers has provided a serious boost, and shares are up 115% since the start of the month. The ripple effect is being felt by a plethora of companies associated with the leading cryptocurrency. Bitcoin has been on a tear recently and has surged past its all-time high.
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