CleanSpark mined a total of 3,750 Bitcoin (BTC) during the 2022 fiscal year ending Sept. 30 — up 320% on an annual basis, according to its annual financial report.

Meanwhile, revenue for the year was up 235% to $131.5 million from $39.3 million in 2021.

However, despite the 2x and 3x increase in revenue and mined BTC, the company’s BTC reserves are down 40.3% to 281 BTC as of Nov. 30, compared to 471 on Jan. 31, according to CryptoSlate data.

According to the report, CleanSpark holds $20.5 million in cash and $11.1 million in BTC as of the end of September 2022. Together with its mining assets, CleanSpark’s total assets equate to $452.6 million for the fiscal year of 2022.