Cleanspark has officially become my favorite company in the holding and something I plan to hold for the coming years and genuinely could not care less about the price fluctuations currently as fundamentals will always prevail in the end. The company turned profitable in the recent earnings report and future guidance was excellent which I will delve into further but this, in my opinion, is the ultimate hyper-growth stock.
Cleanspark my largest holding (originally bought at 10 but averaged up to 14) is a microgrid company that looks at ways of distributing power. Microgrids are self-sufficient energy systems that are used typically in neighborhoods or even hospital complexes for instance. The opportunity here is that the microgrid market will have a compound annual growth rate of 28 percent nearing 40 billion by 2030 and is very useful during national disasters. Cleanspark essentially provides the solution through its software to enhance the optimal usage of microgrids and sells this software to clients in 7 countries currently as well provides the modeling of it. As of April 18, 2021, the Company's backlog of executed contracts has grown to over $23.5 million. Representing an increase of $16.2 million or 220% from $7.3 million, as most recently announced on February 12, 2021. The company plans to execute 14-18 million of these contracts within the next two quarters which illustrates the strong growth with an expected 60-70 percent growth in its energy sector revenue. The recent earnings report showcased that the Three-month revenue increased 122% to $8.1 million from one year ago quarter and Six-month revenue increased 124% to $10.4 million from one year-ago period.
Cleanspark is also in the bitcoin mining sector and has been growing exponentially. The company since December has mined 144 bitcoins and after its recent offering in which they bought additional miners, the company is set for astonishing revenue numbers within the next few years. The energy costs of mining bitcoin are a mere 4,000 per coin illustrating the high margins here and Cleanspark is the only publicly-traded company in the United States that is 95 percent carbon-free when mining bitcoin and plans to be carbon neutral, protecting the company from growing environmental concerns over the mining of bitcoin. The growth potential here is that the company plans that by September 2022 they'll be mining 18-20 Bitcoins. The growth potential here is just incredible and the company has also been added to the Russell 2000. What I find funny is the whole concern over the mining of bitcoin yet Cleanspark is the cleanest miner in the business yet investors aren't aware of these facts. Cleanspark remains the strongest long term hold and will remain in my portfolio for some time.