Johan on Nostr: I’m going through some 10-Q filings of public mining companies and will update with ...
I’m going through some 10-Q filings of public mining companies and will update with my findings. Here are some initial observations:
• $CLSK Cleanspark originally had their depreciation period set at 5 years but revised it to 3 years, resulting in an impairment expense on fixed assets of $189 million, which is about 50% of their yearly revenue.
• $RIOT Riot Platforms extended their depreciation period from 2 years to 3 years, which provided some relief in their results.
• The mining operations of CLSK result in a total cost per BTC of $69,617
• The total company operates at a cost of $80,840 per BTC. This excludes the impairment expense on their S19 machines, which will be replaced by the end of 2024.
Published at
2024-08-27 12:50:25Event JSON
{
"id": "bad2dc9ac8aba849e1d341667cd6b44d2cc052c9d1edf51ba707aadcc3077929",
"pubkey": "ed60dae0231f309b32c90145029783a9b3ef99d1e5ee867046d4c06bcc3d5108",
"created_at": 1724763025,
"kind": 1,
"tags": [],
"content": "I’m going through some 10-Q filings of public mining companies and will update with my findings. Here are some initial observations:\n\n\t•\t$CLSK Cleanspark originally had their depreciation period set at 5 years but revised it to 3 years, resulting in an impairment expense on fixed assets of $189 million, which is about 50% of their yearly revenue.\n\n\t•\t$RIOT Riot Platforms extended their depreciation period from 2 years to 3 years, which provided some relief in their results.\n\n\t•\tThe mining operations of CLSK result in a total cost per BTC of $69,617\n\n\t•\tThe total company operates at a cost of $80,840 per BTC. This excludes the impairment expense on their S19 machines, which will be replaced by the end of 2024.\nhttps://m.primal.net/KPhD.png\nhttps://m.primal.net/KPhE.png",
"sig": "13037777121faeab1c3036028e625b6621ab9f64ec5c543eed8001fe0d6230a927e69d40b8c956656f5207afd2a6b7bacfd0f227718ed86eb27c82dd21e81517"
}
