​Bitcoin miner CleanSpark beats estimates, posts $29 million l | Crypto Shake

​Bitcoin miner CleanSpark beats estimates, posts $29 million loss

Bitcoin miner CleanSpark reported a net loss of $29 million for the quarter ending in December, beating analyst estimates of a $31.3 million loss.

It narrowly missed revenue estimates, posting $27.8 million, compared to the $29.5 million expected, according to analyst estimates compiled by FactSet.

"While we faced headwinds due to depressed bitcoin prices during most of our fiscal first quarter, we persisted and grew," said CEO Zach Bradford. "Our average hashrate rapidly increased, outpacing global hashrate, and we mined the most bitcoin ever in a single quarter."

The company had total assets of $487 million and liabilities of $59.8 million as of Dec. 31.

CleanSpark was up about 1.9% in after-hours trading as of 4:15 pm ET.