The company’s stock recently traded up more than 15% to $0.52 a share in New York following the company’s announcement.
In a statement, CleanSpark said it anticipates reporting sales for the three months ended September 30, 2019 in excess of $2.1 million, compared with sales of $1.2 million during the three months ended June 30.
This represents approximately an expected 75% sequential increase in gross revenue from the prior quarter.
CleanSpark reported sales $990,000 during the three months ended March 31, 2019 and $260,000 for the three months ended December 31, 2018.
CleanSpark, based in Bountiful, Utah, develops software to help companies become more energy efficient. The company's services include intelligent energy monitoring and controls, as well as micro-grid consulting and implementation services.
“As can be seen by our results over the past four quarters, we are making significant progress in growing our business and establishing ourselves as a leader in advanced energy software and control systems," said CEO Zach Bradford.
“We are still in the early stages of what we believe is a multi-year trend towards expanding microgrids applications around the world. We have spent significant time and energy in developing what we believe is a leading solution and one that is built around providing a return on investment (ROI) for our customers.”
He added: “Our preliminary revenue expectations for the quarter ended September 30, 2019 shows that we are on track to expand our market and leverage the commercial opportunity for our microgrid solutions.”
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