When compared sequentially, Bitcoin's recent price recovery has resulted in higher revenues quarter-over-quarter. This resulted in revenues increasing slightly when compared to the same prior year period. During this time last year, we mined fewer Bitcoin, but the value of that Bitcoin was higher. Recall that Bitcoin's price was substantially higher a year-ago. That hash rate, even with difficulty reaching all-time highs, resulted in 1,871 Bitcoins mined, doubling what we mined during the same period last year. We ended our second quarter with a hash rate of 6.7 exahashs per second, almost triple where we were during the same period last year.
I want to share more of our near-term vision with you later in this call, but first I'll review some of the key highlights for the quarter. The work ahead of us is about fulfilling the existing commitments we made to you shareholders, as we grow quickly and mindfully in preparation for halving next spring. The Washington expansion is well on its way to being fully operational, the land at Sandersville has been leveled and prepared for construction and we've acquired 99% of the machines either under contract or in-transit that we need to fill both of these facilities. Thank you for joining us to learn more about how this quarter has positioned us to reach our yearend target of 16 exahash per second, which I add, we've been making noteworthy progress towards. Good afternoon and welcome to our second quarter earnings presentation. It is now my pleasure to turn the call over to Zach. You can find the reconciliation of GAAP financial measures in our press release which is available on our website. We will also discuss certain non-GAAP financial measures concerning our performance during toady's call. As described in our SEC filings and on our website, those elements may change as the world changes. Keep in mind that some of the statements we make today are forward-looking and based on our best view of the world and our businesses as we see them today. I'm here with Zach Bradford, our Chief Executive Officer and Gary Vecchiarelli, our Chief Financial Officer. Today's call is also being webcast and a replay and transcript will be available on our website. Our press release was issued about 30 minutes ago and is available on our website at forward/investors. Isaac Holyoak: Thanks, JL and thank you for joining us today for CleanSpark's Fiscal Second Quarter Financial Results Call, covering the period Januthrough March 31st, 2023.
At this time, I would like to turn the floor over to Isaac Holyoak, Chief Communications Officer.
At this time, I would like to welcome everyone to the conference call. Operator: Good afternoon, my name is Jean-Louis and I will be your conference operator today. (NASDAQ: CLSK) Q2 2023 Earnings Call Transcript May 11, 2023
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