Key Takeaways
- Leadership Shift: Founder Matthew Schultz resumes CEO position at CleanSpark.
- Strong Financials: Q3 revenue surged 91% YoY with $1B+ in bitcoin holdings.
- Growth Focus: Schultz aims for stability, continuity, and forward momentum.
CleanSpark Founder Matthew Schultz Resumes CEO Role
Bitcoin mining company CleanSpark has announced3 that its co-founder and executive chairman, Matthew Schultz, has stepped in as chief executive officer following the resignation of Zachary Bradford.
Bradford had led the Nasdaq-listed8 company since October 2019, overseeing significant expansion in CleanSpark’s bitcoin mining operations. Schultz, who co-founded CleanSpark in 2014 and previously served as CEO, is returning to the role to ensure operational stability and strategic continuity.
“As a founder who has always been actively involved, I care deeply about this company, our people, and our mission,” Schultz said in an official statement. “My focus stepping in as CEO is to ensure stability, continuity, and forward momentum during this time, and to support the team and our board as we continue to execute as a market leader.”
Strong Financial Growth Supports Leadership Change
CleanSpark recently reported exceptional financial performance in its fiscal third quarter. Revenue surged 91% year-over-year, reaching $198.6 million, while net income hit $257.4 million. The company’s bitcoin treasury surpassed the $1 billion milestone, with $1.08 billion worth of BTC holdings.
In total, CleanSpark now holds approximately $3.1 billion in assets, underscoring its robust financialq position. The board believes that the leadership change will help capture new market opportunities and strengthen its position in the competitive bitcoin mining sector.
Summary
Matthew Schultz’s return as CEO marks a strategic move for CleanSpark as it leverages strong financial0 growth and a significant bitcoin reserve. With stability and growth at the forefront, the company is poised to continue its leadership in the bitcoin mining industry.
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