ChainCatcher news, Bitcoin mining company CleanSpark announced the completion of a $650 million convertible preferred note issuance. Additionally, the company repurchased 11.76 million shares of common stock, with a repurchase amount of approximately $145 million. These shares will be removed from the company's total outstanding shares.According to CleanSpark's CEO and President Zach Bradford, part of the funds is intended to support adding the mined Bitcoin to the balance sheet.

ChainCatcher news, according to a press release, Nasdaq-listed Bitcoin mining company CleanSpark, Inc. announced its plan to offer a total of $550 million in convertible preferred notes maturing in 2030 to initial subscribers based on market conditions and other factors.CleanSpark also expects to grant initial purchasers of the convertible notes the option to purchase up to $100 million in additional convertible notes within 13 days from the date of the initial issuance of the convertible notes.The company plans to use the net proceeds from the offering to pay for the costs of capped call option transactions, to repurchase up to $125 million of its common stock from convertible bond investors, and the remaining net proceeds will be used to fully repay the outstanding amount under the company's credit facility with Coinbase, capital expenditures, acquisitions, and general corporate purposes.

ChainCatcher news, JPMorgan upgrades the ratings of Bitcoin mining companies Cipher, CleanSpark, and MARA. JPMorgan raised the rating of Cipher Mining and CleanSpark from neutral to overweight, and upgraded MARA's rating from underweight to neutral. JPMorgan downgraded IREN's rating from overweight to neutral.JPMorgan also set a new target price of $8 for Cipher and raised its target price for CleanSpark from $10.50 to $17.JPMorgan stated that it is introducing a new sum-of-the-parts (SOTP) valuation framework for mining companies, which takes into account the company's mining operations, respective land and power portfolios, and their holding balances to reflect the Bitcoin that the company may hold on its balance sheet.

ChainCatcher news, according to Trader T's monitoring, the U.S. stock market's cryptocurrency sector is up before the market opens today:MICROSTRATEGY: +2.9%ISHARES BITCOIN TRUST: +1.8%COINBASE GLOBAL: +2.3%RIOT PLATFORMS: +1.96%CLEANSPARK: +3.5%MARA HOLDINGS: +2.2%

According to ChainCatcher news reported by PR Newswire, Nasdaq-listed Bitcoin mining company CleanSpark has released its fiscal year 2024 financial report, with annual revenue reaching $378.9 million, a year-on-year increase of 125%. As of the end of September, the company held $122.2 million in cash, $509.5 million in Bitcoin assets, and total assets of $2 billion.The financial report shows that the company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $245.8 million, an increase of $220.8 million compared to the previous fiscal year. The net loss was $145.8 million, with a loss per share of $0.69, an improvement from a loss per share of $1.30 in the previous fiscal year. In terms of balance sheet, the company had operating capital of $517.5 million, loans payable of $66 million, and shareholders' equity of $1.8 billion.

ChainCatcher news, according to Cointelegraph, based on year-to-date data, 16 publicly listed crypto mining companies have spent a total of $3.6 billion on property, plant, and equipment (PP&E) upgrades, including new mining hardware. So far in 2024, these 16 mining companies have raised over $5 billion, with the third quarter being the highest period for PP&E spending since the first quarter of 2022. Spending on mining hardware accounts for the majority of PP&E expenditures. Since 2023, publicly listed mining companies have spent a total of $2 billion on hardware upgrades. The report explains that the lifespan of crypto mining hardware typically averages 3-5 years and must be upgraded regularly to maintain profitability. Additionally, crypto companies are shifting from equity financing to debt financing.Regarding the PP&E expenditures of mining companies in November 2024, Bitfarms signed a miner hosting agreement with Stronghold on November 1, which includes terms for hosting an additional 10,000 Bitcoin mining devices at its facility in Pennsylvania. Around the same time, CleanSpark, a company focused on renewable Bitcoin mining, announced plans to build 400 megawatts of mining infrastructure after acquiring mining company GRIID in October 2024. On November 11, Hive Digital purchased 6,500 application-specific integrated circuits (ASICs) for the company's upcoming facility in Paraguay.

ChainCatcher news, Bitcoin mining company CleanSpark has announced that it has completed the acquisition of the U.S. infrastructure company GRIID. After the acquisition of GRIID, mining capacity has increased by 50 megawatts, bringing it closer to the plan of building 400 megawatts of capacity in the coming years.CleanSpark CEO Zach Bradford stated in an announcement on October 31 that he is pleased to announce that the company has completed the acquisition of GRIID Infrastructure following shareholder approval, describing it as a "strategic move that allows us to enhance Bitcoin mining capacity in Tennessee." He also added that this acquisition will enable CleanSpark to build over 400 megawatts of capacity in the coming years.

ChainCatcher news, according to Cointelegraph, Bitcoin mining company CleanSpark has announced the completion of its acquisition of the U.S. infrastructure company GRIID.CleanSpark CEO Zach Bradford stated in an announcement on October 31 that he is pleased to announce that the company has completed the acquisition of GRIID Infrastructure following shareholder approval, describing it as a "strategic move that enables us to enhance our Bitcoin mining capacity in Tennessee." He also added that this acquisition will allow CleanSpark to build over 400 megawatts of capacity in the coming years.

ChainCatcher news, analysts from the research and brokerage firm Bernstein claim that their current prediction of a $200,000 Bitcoin price by the end of 2025 is "conservative," and they urge skeptics to reconsider the limited supply of cryptocurrencies in an era of record-high U.S. debt levels. For investors who do not want to hold Bitcoin directly, the analyst suggests investing in MicroStrategy, the world's largest Bitcoin corporate holder, and Robinhood, which is continuing to expand its crypto services, as alternatives for indirect investment.The analyst also highlighted the potential of U.S. publicly traded companies Riot Platforms and CleanSpark, which are integrating thousands of megawatts of power for Bitcoin mining, as well as AI-diversified companies like Core Scientific, which leverage the demand for AI hosting services, as they possess valuable power pipelines while still managing Bitcoin mining operations.

ChainCatcher news, Nasdaq-listed Bitcoin mining company CleanSpark released its unaudited Bitcoin mining and operational report on its official website for the period ending September 30, 2024, disclosing that in September, the Bitcoin mining output was 493 BTC, and the total Bitcoin holdings as of September 30 reached 8049 BTC (including 7098 BTC mined in the fiscal year 2024).In addition, CleanSpark also announced that it sold 2.5 BTC at a price of $58,287 in September, with a month-end operating hash rate of 27.6 EH/s.

ChainCatcher news, according to TheBlock, Bitcoin mining company CleanSpark shut down its 365MW facility in Georgia due to Hurricane Helen and has currently restored 200MW, expecting full restoration by October 4.The company stated that the hash rate has reached 22 EH/s and will reach 28 EH/s after full restoration. The hurricane has resulted in 128 fatalities and over 2 million people without power.

ChainCatcher news, CleanSpark CEO Zach Bradford stated in an interview with Bernstein that he expects Bitcoin to reach a peak close to $200,000 within the next 18 months.Bradford also noted that Bitcoin-focused miners are currently undervalued and believes that the price of Bitcoin may rise after the U.S. elections. CleanSpark has held 97% of its mined Bitcoin since June 2023, with its current holdings nearing 8,000 BTC.

ChainCatcher news, according to The Block, Bitcoin mining company CleanSpark announced on Tuesday that it has acquired two Bitcoin mining sites and related land near Clinton, Mississippi. According to the press release, the total purchase price is $5.775 million.The expected completion date for the mining site is December 1, and S21 pro miners will be installed, with an expected total hash rate of approximately 1 EH (exahashes) per second. The addition of these sites will bring CleanSpark's total data center capacity in Mississippi to 60.5 megawatts.

ChainCatcher news, according to The Block, Bitcoin mining company CleanSpark has spent $27.5 million to acquire 7 Bitcoin mining facilities in Tennessee, which will increase CleanSpark's current hash rate by over 22%, reaching 5 EH/s. The company expects to complete the related transactions by September 25.

ChainCatcher news, according to The Block, Bernstein has rated Riot Platforms, CleanSpark, IREN, and Core Scientific as "outperforming the market," while Marathon Digital has been rated as "market perform."The "outperforming the market" rating is a positive assessment from analysts, indicating that the stock is expected to exceed the performance of its market or industry. In contrast, the "market perform" rating is a neutral evaluation, suggesting expected average performance.These assessments are based on five key indicators: production and hash rate, operational and energy efficiency, power consumption, hash cost, and each company's artificial intelligence strategy.

ChainCatcher news, the publicly listed Bitcoin mining company CleanSpark has released its third-quarter financial report. The revenue for the third quarter was $104.1 million, an increase of $58.6 million compared to $45.5 million in the same period last year, representing a growth of 129%. CleanSpark reported a net loss of $236.2 million for the third quarter, while the loss in the same period last year was $14.1 million.In the third quarter, CleanSpark mined 1,583 Bitcoins. As of June 30, CleanSpark's balance sheet included $129.2 million in cash, $413 million in Bitcoin, a total of $598.8 million in current assets, and $625.8 million in total mining assets (including prepaid deposits and deployed mining machines). As of June 30, 2024, the company's working capital was $531.9 million, with debt amounting to $11 million.

ChainCatcher news, according to Bitcoin.com, publicly listed Bitcoin mining company Cleanspark recently revealed in its 10-Q report that it has acquired 26,000 units of Bitmain's S21 XP immersion-cooled Bitcoin miners.Cleanspark's 10-Q report states that on August 7, 2024, the company entered into a future sales and purchase agreement with Bitmain for the purchase of Bitcoin mining hardware, which stipulates the purchase of 26,000 S21 XP immersion servers with a total rated hash rate of 7,800,000 terahashes and a total purchase price of $167,700, or $21.5 per terahash.

ChainCatcher News: After acquiring Riot Platforms, the American mining company CleanSpark has become the second-largest mining company by market capitalization. CleanSpark is continuing its expansion by starting construction on a new facility in Cheyenne, Wyoming, which is expected to be operational by the end of the year.The company is also acquiring a second mining site in Wyoming and will expand into Tennessee through the acquisition of GRIID Infrastructure. CleanSpark has signed a 75-megawatt power contract in Wyoming, with 30 megawatts allocated for operating S21 immersion XP dedicated ASICs in the planned facilities. This will increase the company's hash rate by 2 EH/s. CleanSpark is seeking additional power sources for this facility.

ChainCatcher news, according to CoinDesk, previously Culper Research released a short-selling report, stating that the Bitcoin mining company Iris Energy's plant in Childress, Texas, is unsuitable for artificial intelligence or high-performance computing, leading to a nearly 14% drop in Iris Energy (IREN) stock price yesterday.Brokerage firm Bernstein stated in a research report that the company has allocated most of the planned expansion at the site for Bitcoin (BTC) mining, and the existing power and data center infrastructure there is very suitable for this purpose. Analysts led by Gautam Chhugani wrote, "Iris Energy has not claimed any intention to convert its Bitcoin mining site in Childress for artificial intelligence."Bernstein estimates that 65% of the company's value comes from Bitcoin mining, while the remaining 35% comes from AI/HPC. The company's valuation is consistent with other Bitcoin mining companies like CleanSpark (CLSK) and Marathon Digital (MARA), whose entire valuations are driven by mining.

ChainCatcher news, according to The Block, Bitcoin mining company CleanSpark produced 445 bitcoins in June, up from 417 in May. The company also revealed that it sold 8.06 BTC in June at an average price of about $67,514 per bitcoin.