CleanSpark: This Obscure Bitcoin Miner Could Go Either Way

Low mining costs provide CleanSpark with a competitive advantage over many of its peers; it may not be enough.If the price of Bitcoin remains subdued for a prolonged period of time, the company could not only survive, but thrive under most Bitcoin price points.Weak crypto environment providing CLSK with low-cost opportunities to expand operations by adding mining capacity.The question going forward is how the company can compete on revenue against its larger competitors.CleanSpark (CLSK) is a relatively unknown Bitcoin (BTC-USD) miner competing in the crypto sector. It is undergoing the same struggles its peers are going through as a result of the continual downward pressure on the price of Bitcoin, and the FUD surrounding it.That said, the company has been able to acquire more mining equipment at bargain prices, so if can survive the low-cost Bitcoin environment it's now operating in, when the price of Bitcoin sustainably rebounds, it could potentially leverage the boost in price from the increase in the number of mining machines it employs at that time.In this article we'll look at its most recent earnings numbers and what the future may hold for the company and its shareholders.Most recent earnings numbersRevenue in Q2 jumped to $41.6 million, up more than 4x from the $8.1 million generated in Q2 of 2021. Mining revenues accounted for $37 million of the total. Management attributed much of those gains as a result of investm...