CleanSpark has announced its Q3 results, revealing a record revenue of $198.6 million, marking a 91% increase compared to last year’s $104 million. This performance surpassed analysts' expectations of approximately $195 million. The company also reported a quarterly net income of $257.4 million, a dramatic recovery from a loss of $236.2 million the previous year. Diluted earnings per share reached 78 cents, significantly exceeding the anticipated 20 cents. CleanSpark, praised for its strategic approach, has become the first public mining company in the U.S. to achieve 50 exahashes per second and manages 5.8% of the global hashrate. Their Bitcoin treasury now exceeds $1 billion without raising additional capital. Despite these achievements, CleanSpark's shares fell over 2.5% on the announcement day, although they have experienced a 16.4% gain year-to-date. The overall Q3 performance among Bitcoin miners has been strong, attributed to a 32% increase in Bitcoin prices during the period.

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