CleanSpark, Inc. (NASDAQ:CLSK) Q2 2022 Results Conference Call May 10, 2022 4:30 PM ET
Company Participants
Rachel Silverstein - Senior Vice President, Compliance and General Counsel
Zach Bradford - Chief Executive Officer
Gary Vecchiarelli - Chief Financial Officer
Conference Call Participants
Tyler DiMatteo - BTIG
Operator
Good afternoon and welcome to the CleanSpark Second Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded.
I would like to turn the floor over to Rachel Silverstein, Senior VP of Compliance and General Counsel.
Rachel Silverstein
Welcome everyone. On behalf CleanSpark, Inc., thank you for joining our second quarter financial results conference call for fiscal year 2022. With us today with prepared remarks are CleanSpark's Chief Executive Officer, Zach Bradford; and Gary Vecchiarelli, our Chief Financial Officer.
On today's call, we will make forward-looking statements under the Safe Harbor provisions of the federal securities laws. Actual results may differ materially from those contemplated in these statements. Additional information concerning factors that would cause actual results to materially differ from these forward-looking statements are contained in today's press release and in our filings with the SEC.
Except as required by law, we undertake no obligation to update these statements as a result of new information or otherwise. During today's call, we will also discuss certain non-GAAP financial measures about our performance. You can find the reconciliation of GAAP financial measures in our press release, which is in our 8-K and will be posted on our website during this call.
With that, it is my pleasure to turn the call over to our CEO, Zach Bradford.
Zach Bradford
Thank you, Rachel. Good afternoon and thank you for taking time this late in the afternoon to join our call. CleanSpark is a value driven company that is engaged in the once in a lifetime opportunity of building the infrastructure of the new economy. And that's exactly what Bitcoin Mining is. It is infrastructure that makes a difference in the lives of millions of people across the world. And that number is growing every day, as more people are introduced to this transformational technology.
Bitcoin is at an inflection point in human history. And we are proud to be part of it. This has been a quarter of execution for CleanSpark, and I'm looking forward to discussing some of those accomplishments during today's call, which we aim to keep brief, informative and targeted towards those elements most important to our shareholders. We had our most productive quarter ever in terms of Bitcoin produce, minting 899 new Bitcoin, which is a 36% increase over the previous quarter, and we are on track to exceed our original hash rate expectations.