Tweet Facebook Mail American Airlines briefly grounded flights around the US overnight because of a technical problem just as the Christmas travel season kicked into overdrive and winter weather threatened more potential problems for those planning to fly or drive. Government regulators cleared American flights to get airborne about an hour after the Federal Aviation Administration ordered a national ground stop for the airline. The order, which prevented planes from taking off, was issued at the airline's request after it experienced trouble with its flight operating system, or FOS. The airline blamed technology from one of its vendors. READ MORE: Man sat and watched as woman burned on subway, US court told A mass grounding of American Airlines flights had knock-on affects on travel in the US at the start of the Christmas travel season. (AP) As a result, flights were delayed across American's major hubs, with only 37 per cent of the airline's 3901 domestic and international flights leaving on time, according to Cirium, an aviation analytics company. Nineteen flights were cancelled. Dennis Tajer, a spokesperson for the Allied Pilots Association, a union representing American Airlines pilots, said the airline told pilots at 7am Tuesday ET (11pm Tuesday AEDT) that there was an outage affecting the FOS system. It handles different types of airline operations, including dispatch, flight planning, passenger boarding, as well as a plane's weight and balance data, he said. Some components of FOS have gone down in the past, but a systemwide outage is rare, Tajer said. Hours after the ground stop was lifted, Tajer said the union had not heard about any "chaos out there beyond just the normal heavy travel day." He said officials were watching for any cascading effects, such as staffing problems. READ MORE: Bill Clinton is out of the hospital after being treated for the flu The brief grounding was due to a technical error. (AP) On social media, however, customers expressed frustration with delays that caused them or their family members to miss connecting flights. One person asked if American planned to hold flights for passengers to make connections, while others complained about the lack of assistance they said they received from the airline or gate agents. Bobby Tighe, a real estate agent from Florida, said he will miss a family Christmas Eve party in New York because his American flight was repeatedly delayed. The delays made him miss a connecting flight, leaving him the choice of going to his destination — Westchester, New York — on Christmas Day or taking another flight to Newark, New Jersey, that was scheduled to land Tuesday evening. He chose the latter. "I'm just going to take an Uber or Lyft to the airport I was originally supposed to go to, pick up my rental car and kind of restart everything tomorrow," Tighe said. He said his girlfriend was "going through the same exact situation" on her way from Dallas to New York. READ MORE: Bill Clinton is out of the hospital after being treated for the flu Only 37 per cent of the airline's flights left on time. (AP) Cirium noted that the vast majority of flights were departing within two hours of their scheduled departure time. A similar percentage — 36 per cent — were arriving at their destinations as scheduled. Dallas-Fort Worth, New York's Kennedy Airport and Charlotte, North Carolina, saw the greatest number of delays, Cirium said. Washington, Chicago and Miami experienced considerably fewer delays. Meanwhile, the flight-tracking site FlightAware reported that 4058 flights entering or leaving the US, or serving domestic destinations, were delayed, with 76 flights cancelled. The site did not post any American Airlines flights on Tuesday morning, but it showed in the afternoon that 961 American flights were delayed. Amid the travel problems, significant rain and snow were expected in the Pacific Northwest at least into Christmas Day. Showers and thunderstorms were developing in the South. Freezing rain was reported in the Mid-Atlantic region near Baltimore and Washington, and snow fell in New York. It can be difficult to re-book a cancelled flight around the holidays. (AP) Because the holiday travel period lasts weeks, airports and airlines typically have smaller peak days than they do during the rush around Thanksgiving, but the grind of one hectic day followed by another takes a toll on flight crews. And any hiccups — a winter storm or a computer outage — can snowball into massive disruptions. That is how Southwest Airlines stranded two million travellers in December 2022, and Delta Air Lines suffered a smaller but significant meltdown after a worldwide technology outage in July caused by a faulty software update from cybersecurity company CrowdStrike. Many flights during the holidays are sold out, which makes cancellations even more disruptive than during slower periods. That is especially true for smaller budget airlines that have fewer flights and fewer options for rebooking passengers. Only the largest airlines, including American, Delta and United, have "interline agreements" that let them put stranded customers on another carrier's flights. This will be the first holiday season since a Transportation Department rule took effect that requires airlines to give customers automatic cash refunds for cancelled or significantly delayed flights. Most air travellers were already eligible for refunds, but they often had to request them. Millions of people are expected to pass through US airports in the next 10 days. (AP) Passengers still can ask to get rebooked, which is often a better option than a refund during peak travel periods. That's because finding a last-minute flight on another airline tends to be expensive. An American spokesperson said Tuesday was not a peak travel day for the airline — with about 2000 fewer flights than the busiest days — so the airline had somewhat of a buffer to manage the delays. The groundings happened as millions of travellers were expected to fly over the next 10 days. The Transportation Security Administration expects to screen 40 million passengers through January 2. Airlines expect to have their busiest days on Thursday, Friday and Sunday. Many flights during the holidays are sold out, which makes cancellations more disruptive than during slower periods. Even with just a brief outage, the cancellations have a cascading effect that can take days to clear up. 'Do not travel': Every country Aussie authorities don't want you to go View Gallery About 90 per cent of Americans travelling far from home over the holidays will be in cars, according to AAA. "Airline travel is just really high right now, but most people do drive to their destinations, and that is true for every holiday," AAA spokesperson Aixa Diaz said. Gasoline prices are similar to last year. The nationwide average Thursday was US$3.04 a gallon (about $1.29 a litre - one gallon is about 3.78 litres), down from US$3.13 (about $1.32 a litre) a year ago, according to AAA. Charging an electric vehicle averages just under US35c (56c) per per kilowatt hour, but varies by state. Transportation data firm INRIX says travel times on the nation's highways could be up to 30 per cent longer than normal over the holidays, with Sunday expected to see the heaviest traffic. Boston, New York City, Seattle and Washington are the metropolitan areas primed for the greatest delays, according to the company. DOWNLOAD THE 9NEWS APP : Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play .
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Doechii Teases Potential Music Video For “Denial Is A River” With A “Family Matters” TwistWith 36 bills to pass, one less senator and only one day left in parliament - Australia's decision makers are in for a wild ride. or signup to continue reading The federal government has been chipping away at its agenda since Monday, but with only a few more hours to go in the last sitting week of the year, Labor will have to go warp speed to tick off its remaining items. Centrepiece proposals like the social media ban for children younger than 16, clean energy incentives known as Future Made in Australia, and migration laws that would give the government powers to deport non-citizens are among the 36 bills that will be brought before the Senate on Thursday. Asked if politicians would have to endure a marathon 24-hour sitting, manager of government business in the senate Katy Gallagher did not rule it out. "If that is how we get these important bills through, then we are prepared to sit and wait," she told ABC radio. It is not uncommon for senators to vote through the night, though it remains unclear whether every piece of legislation has the support needed to pass. Discussions have continued giving rise to last-minute amendments and other negotiations have reached an impasse. "Peter Dutton's opposition ... want to block, they'll engage and they'll keep you hanging, and then they block," Senator Gallagher said. "They're not interested in implementing reform." Senator Gallagher has said the government will go to other members of the Senate to get its legislation across the line. However, that has become more difficult as the Senate suspended independent senator Lidia Thorpe on Wednesday night after she threw pieces of paper at Pauline Hanson over a racism row. This means Senator Thorpe has been barred from the chamber and will be unable to vote on any legislation. Members of the Senate have also raised concerns that the compressed timeline will not allow bills to be properly considered, with Nationals senator Matt Canavan arguing that each piece of legislation would only receive 15 minutes of debate assuming the chamber sat for its usual nine-hour day. "What other workplace gets to knock off in November and not back until February?" he wrote on X, formerly Twitter. "Let's come back next week, keep working and properly scrutinise..." But Senator Gallagher has insisted on pushing ahead. "These are important bills, we're being upfront, we're allowing time," she said. A federal election must be held by May 17, but if the government opts for an earlier contest, politicians may not return to Parliament House before Australians go to the polls. DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily! Advertisement Advertisement
OTTAWA—In a rush to provide emergency loans to small businesses during the , the federal government pushed out a program that lent more than $3.5 billion to ineligible recipients, gave too much control to a single private contractor, and failed to ensure public money was not wasted, according to a new report from the auditor general. The program in question, the Canada Emergency Business Account (CEBA), doled out $49.1 billion in loans to almost 900,000 small businesses during the pandemic, with more than 40 per cent of the recipients in Ontario. In a tabled Monday in the House of Commons, Auditor General Karen Hogan concluded the program moved quickly in response to the pandemic crisis, disbursing loans in a matter of days when health measures forced hundreds of thousands of businesses to shut down. But Hogan also found that the federal government failed to properly manage the program in handing it over to an arms-length Crown corporation, Export Development Canada (EDC). Hogan concluded the Department of Finance failed to provide “effective oversight” of more than $853 million in administrative spending in a way that left an “accountability gap” over the program. She also raised concerns about the government’s willingness to collect more than $1 billion in unpaid loans from ineligible recipients, and over her findings that EDC outsourced too much control over management and spending to a single private company that got paid more than $300 million. “When you have an accountability void, there’s people who aren’t keeping eyes on the dollars anymore, there is bad management decisions that go unchallenged, and ultimately no spending limit put on a big program,” Hogan said at a press conference Monday. CEBA was created in the spring of 2020, as the Liberal government was spending huge sums of money on emergency pandemic supports. The program gave small businesses interest-free loans of $40,000 to $60,000 and promised to forgive up to $20,000 of that money if the loan was paid back on time. Hogan’s report said that, as of March 31 this year: $28.2 billion in loans had been repaid; $12.4 billion had been forgiven; $8.5 billion still had to be repaid; and $100 million had been written off. The Conservatives, long critical of the Liberal government’s deficit spending, said Monday that Hogan’s report uncovered a new “boondoggle” that helped a company that had reportedly used dozens of workers based in Brazil to help with the program. “More proof today that this prime minister — this weak prime minister — has lost control of spending,” Conservative Leader Pierre Poilievre said in the House, describing CEBA as giving out “so-called loans” to ineligible businesses. Moments later, Bloc Québécois MP Nathalie Sinclair-Desgagné called it a “scandal” that a single corporation received so much money to administer the program. The government defended the program as a “lifeline” for small businesses during the pandemic. In a press release, Finance Minister Chrystia Freeland and Small Business Minister Rechie Valdez also pushed back on Hogan’s report, stating it failed to “properly acknowledge that CEBA was designed and delivered” during that crisis. Hogan, meanwhile, credited the government for working with speed, but argued the public should still expect programs to be well-run — especially when they are designed to exist for years. “I would expect a basic level of due diligence and monitoring of expenditures, regardless of whether a pandemic exists,” Hogan said Monday. In her report, Hogan determined that EDC relied heavily on a single private contractor, the global IT firm Accenture, which received a sole-source contract without competition, was paid 92 per cent of $342 million in contract spending that flowed through program, the report said. EDC was “dependent” on Accenture because it determined it did not have the “internal resources” to deliver the CEBA loans itself, Hogan’s report said. This “extensive reliance” raised risks, Hogan concluded, with Accenture involved in setting the scope of work and prices that EDC would pay for it. Contracts for the first three year’s of the company’s work were “primarily drafted by Accenture,” and didn’t contain conditions like preserving the ability for EDC to transfer the program to another vendor, the report said. There were also “persistent delays in planning” for the eventual collection of unpaid loans, which prompted EDC to involve Accenture in the decision to hire the company’s own subsidiary to do the work — something Hogan flagged as a “conflict of interest that EDC did not manage.” Another example of the reliance on Accenture was the call centre created to provide information about program applicants. The centre was supposed to last for four months and cost $2.78 million, but as of March 31 this year it was still open and had cost about $23.2 million, Hogan’s report said, concluding EDC did not adequately monitor costs that skyrocketed from an average of $31 per call in 2020 to a peak of $589 per call in April 2023. Hogan called on EDC to improve how it manages these contracts, which the Crown corporation has agreed to do. EDC’s head of communications and public affairs, Todd Winterhalt, said in a statement Monday that the agency is “very proud” of its work, and that it needed to use third-party contractors to build and operate the program. “EDC welcomes the opportunity to continuously improve our practices,” the statement said. The report also raised questions about the government’s plan to collect loan payments if businesses fail to pay them back on time. Hogan found that EDC’s plan lacked “key elements” like forecasted costing beyond the current fiscal year, and checks to monitor how successfully loans will be recouped. Hogan also concluded that EDC underestimated the number of ineligible businesses that received these loans and must pay it back. The report said that, by October 2021, EDC confirmed almost 51,000 recipients were ineligible and had to repay the money by the end of 2023, but as of March 31, 2024 only around half of them had done so — representing about $1.1 billion. But Hogan’s office performed its own eligibility verifications and found that possibly another 26,000 businesses received loans — worth a total of $1.5 billion — even though they should have been ineligible based on documentation provided, the report said. Another 19,800 businesses were not technically eligible but allowed to receive money because of “unclear” application rules, Hogan’s report added. This decision cost an extra $146 million in forgiven loans, the report said. The report said EDC has agreed to consider potential options to recover the forgiven portions of loans given to ineligible small businesses, but Hogan during her press conference said she remains concerned about government’s alleged “reticence” to recover these funds.
Revenue grows 125% year over year Current hashrate surpasses 33.5 EH/s on track for 37 EH/s LAS VEGAS , Dec. 2, 2024 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), America's Bitcoin Miner®, today reported financial results for the fiscal year ended September 30, 2024 . "Our performance this year reflects a sustained growth trajectory, solidifying our position as one of the top Bitcoin miners in the world, as we move into an anticipated new bull market," said CleanSpark CEO Zach Bradford . "Reflecting on the past year, our results in FY 2024 and the positioning of the company going into 2025 demonstrated the wisdom of our counter-cyclical growth and capital allocation strategy. We produce durable, high performing growth and have been since our earliest days in Bitcoin mining," Bradford said. "CleanSpark has prioritized owned infrastructure as its core foundation, putting us in the best position to optimize our portfolio of data centers to drive ROI to our shareholders as we continue to rapidly deploy additional hashrate on our path to 37 EH by year-end and 50 EH and beyond in 2025." "We anticipated that there would be prime opportunities for M&A paired with organic growth, and over the past year we capitalized by adding 423 MWs to our operating portfolio bringing us to 726 MW, as of today. As we continue focusing on scale in FY 2025 and beyond, we will develop the remaining hundreds of MW in the near-term pipeline while always staying opportunistic," said Bradford. "The team produced our strongest year of financial performance to date, solidifying a track record of effective execution and keeping commitments to shareholders. This fiscal year included the fourth halving event in Bitcoin 's history, and our organizational commitment to operational excellence has allowed us to weather it more successfully than many of our industry peers," said CleanSpark CFO Gary Vecchiarelli . "Even with the halving event impacting block rewards and a significant increase in difficulty, our production outpaced both, yielding approximately 7,100 BTC thanks to our growth in hashrate and the efficiency improvements to our fleet. "CleanSpark's financial strength continued to grow in fiscal 2024," said Vecchiarelli. "Heading into 2025, we have significant scale and size, a healthy balance sheet, industry leading operations and a strong liquidity position, and we are well positioned to pursue diverse capital raising strategies," Vecchiarelli said. Financial Highlights: Full Fiscal Year 2024 Financial Results for the Fiscal Year Ended September 30, 2024 . Balance Sheet Highlights as of September 30, 2024 Assets Liabilities and Stockholders' Equity The Company had working capital of $517.5 million and $66.0 million of loans payable as of September 30, 2024 . 1 See "Non-GAAP Measure" and the related reconciliation below Investor Conference Call and Webcast The Company will hold its fiscal year 2024 earnings presentation and business update for investors and analysts today, December 2, 2024 , at 1:30 p.m. PT / 4:30 p.m. ET . Webcast URL: https://investors.cleanspark.com The webcast will be accessible for at least 30 days on the Company's website and a transcript of the call will be available on the Company's website following the call. About CleanSpark CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner ® , is a market-leading, pure play bitcoin miner with a proven track record of success. We own and operate a portfolio of mining facilities across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin , energy, operational excellence and capital stewardship, we optimize our mining facilities to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by securing the most important finite, global asset – Bitcoin – positions us to prosper in an ever-changing world. Visit our website at www.cleanspark.com . Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate, including the volatility of BTC prices; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the Company's ability to successfully completed acquisitions, including integration risks relating to completed and potential acquisitions, the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in those filings. Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law. Non-GAAP Measure The Company presents adjusted EBITDA, which is not a measurement of financial performance under generally accepted accounting principles in the United States ("GAAP"). The Company's non-GAAP "Adjusted EBITDA" excludes (i) impacts of interest, taxes, and depreciation; (ii) the Company's share-based compensation expense, unrealized gains/losses on securities, and, changes in the fair value of contingent consideration with respect to previously completed acquisitions, all of which are non-cash items that the Company believes are not reflective of the Company's general business performance, and for which the accounting requires management judgment, and the resulting expenses could vary significantly in comparison to other companies; (iii) non-cash impairment losses related to long-lived assets (including goodwill); (iv) realized gains and losses on sales of equity securities, the amounts of which are directly related to the unrealized gains and losses that are also excluded; (v) legal fees related to litigation and various transactions, which fees management does not believe are reflective of the Company's ongoing operating activities; (vi) gains and losses on disposal of assets, the majority of which are related to obsolete or unrepairable machines that are no longer deployed; (vii) gains and losses related to discontinued operations that would not be applicable to the Company's future business activities; and (viii) severance expenses. The Company previously excluded non-cash impairment losses related to digital assets and realized gains and losses on sales of bitcoin from its calculation of adjusted EBITDA, but has determined such items are part of the Company's normal ongoing operations and will no longer be excluding them from its calculation of adjusted EBITDA. Management believes that providing this non-GAAP financial measure that excludes these items allows for meaningful comparisons between the Company's core business operating results and those of other companies, and provides the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time. In addition to management's internal use of non-GAAP adjusted EBITDA, management believes that adjusted EBITDA is also useful to investors and analysts in comparing the Company's performance across reporting periods on a consistent basis. Management believes the foregoing to be the case even though some of the excluded items involve cash outlays and some of them recur on a regular basis (although management does not believe any of such items are normal operating expenses necessary to generate the Company's bitcoin related revenues). For example, the Company expects that share-based compensation expense, which is excluded from adjusted EBITDA, will continue to be a significant recurring expense over the coming years and is an important part of the compensation provided to certain employees, officers, and directors. Additionally, management does not consider any of the excluded items to be expenses necessary to generate the Company's bitcoin related revenue. The Company's adjusted EBITDA measure may not be directly comparable to similar measures provided by other companies in our industry, as other companies in the Company's industry may calculate non-GAAP financial results differently. The Company's adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to operating (loss) income or any other measure of performance derived in accordance with GAAP. Although management utilizes internally and presents adjusted EBITDA, the Company only utilizes that measure supplementally and does not consider it to be a substitute for, or superior to, the information provided by GAAP financial results. Accordingly, adjusted EBITDA is not meant to be considered in isolation of, and should be read in conjunction with, the information contained in the Company's consolidated financial statements, which have been prepared in accordance with GAAP. CLEANSPARK, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share amounts) September 30, 2024 September 30, 2023 ASSETS Current assets Cash and cash equivalents $ 121,222 $ 29,215 Restricted cash 3,056 — Receivable for equity offerings — 9,590 Prepaid expense and other current assets 7,995 3,258 Bitcoin (See Note 2 and Note 6) 431,661 56,241 Receivable for bitcoin collateral (See Note 2 and Note 12) 77,827 — Note receivable from GRIID (see Note 7) 60,919 — Derivative investments 1,832 2,697 Investment in debt security, AFS, at fair value 918 726 Current assets held for sale — 445 Total current assets $ 705,430 $ 102,172 Property and equipment, net $ 869,693 $ 564,395 Operating lease right of use asset 3,263 688 Intangible assets, net 3,040 4,603 Deposits on miners and mining equipment 359,862 75,959 Other long-term asset 13,331 5,718 Goodwill 8,043 8,043 Total assets $ 1,962,662 $ 761,578 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 82,992 $ 39,900 Accrued liabilities 43,874 25,677 Other current liabilities 2,240 311 Current portion of loans payable 58,781 6,992 Current liabilities held for sale — 1,175 Total current liabilities $ 187,887 $ 74,055 Long-term liabilities Operating lease liability, net of current portion 997 519 Finance lease liability, net of current portion — 9 Loans payable, net of current portion 7,176 8,911 Deferred income taxes 5,761 2,416 Total liabilities $ 201,821 $ 85,910 Commitments and contingencies - Note 18 CLEANSPARK, INC. CONSOLIDATED BALANCE SHEETS (continued) (in thousands, except par value and share amounts) September 30, 2024 September 30, 2023 Stockholders' equity Preferred stock; $0.001 par value; 10,000,000 shares authorized; Series A shares; 2,000,000 authorized; 1,750,000 issued and outstanding (liquidation preference $0.02 per share) Series X shares; 1,000,000 and 0 authorized, issued and outstanding, respectively 3 2 Common stock; $0.001 par value; 300,000,000 shares authorized; 270,897,784 and 160,184,921 shares issued and outstanding, respectively 271 160 Additional paid-in capital 2,239,367 1,009,482 Accumulated other comprehensive income 418 226 Accumulated deficit (479,218) (334,202) Total stockholders' equity 1,760,841 675,668 Total liabilities and stockholders' equity $ 1,962,662 $ 761,578 The accompanying notes are an integral part of these consolidated financial statements. CLEANSPARK, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except per share and share amounts) For the year ended September 30, 2024 September 30, 2023 September 30, 2022 Revenues, net Bitcoin mining revenue, net $ 378,968 $ 168,121 $ 131,000 Other services revenue — 287 525 Total revenues, net $ 378,968 $ 168,408 $ 131,525 Costs and expenses Cost of revenues (exclusive of depreciation and amortization shown below) 165,516 93,580 41,234
'Other cases have taken more months and years': Former world No. 4 questions Sinner and Swiatek doping cases timelinesNone
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Depending on your viewpoint, the Audi S6 e-tron is either moving with the times or having an identity crisis. You see, the latest – all-electric – S6 follows not only petrol versions but also diesels. One thing that hasn't changed is the S6's remit: to offer great performance in a practical body – in the S6 e-tron's case, a hatchback (Sportback) and an estate car (Avant). It looks pretty compelling on paper, with lots of power fed to all four wheels, a big battery to give you lots of range and adjustable air suspension to make it capable through corners. But does the first Audi S6 electric car have what it takes to go head to head with the quickest BMW i5 or the Porsche Taycan – two models which are also available as estate cars ? Read on to find out... Overview Performance & drive With a focus on performance, every Audi S6 e-tron comes with 496bhp and has the potential to sprint from 0-62mph in just 4.1 seconds – or 3.9 seconds if you use its launch-control setting. There’s no doubt that’s pretty quick, and you’re pushed reassuringly into your seat when you put your foot down, but it doesn’t feel as quick as the BMW i5 M60 xDrive or Porsche Taycan 4S . Indeed, both those rivals get off the line with even more vigour and will continue up to 62mph faster than the S6. Interestingly, the S6 Avant e-tron estate car covers the sprint in the exact same time as the sleeker Sportback, making it a match for the BMW i5 Touring M60 and much faster than the VW ID 7 Tourer GTX . It’s still slower than a Porsche Taycan 4S Sport Turismo though. With a 94.9kWh (usable) battery, the S6 e-tron will go further on a charge than all those electric car rivals . Indeed, with an official range of 402 miles, even the Taycan 4S Performance Battery Plus is no match. Every S6 e-tron comes with adaptive air suspension as standard and that does wonders for the way it drives. When you’re driving normally, it's firm enough to have great body control over undulating terrain but still manages to soak up potholes and imperfections with little fuss. In Dynamic mode, everything tightens up, with the suspension getting stiffer and the steering heavier. As a result, the S6 e-tron becomes pretty fun to drive, exhibiting very little body lean, having lots of grip thanks to its quattro all-wheel-drive system and with lots of feedback from the steering. All that really lets the side down is the brake pedal, which lacks the feel of rivals. Speaking of which, while the S6 e-tron is good to drive, the Porsche Taycan is on another level entirely, so if handling is at the top of your priority list, you’ll want to look at that rival instead. Outside of the brake pedal, which is fine for everyday driving, the S6 e-tron is quite refined, with little wind noise and about the same level of road noise as you'll hear in a BMW i5 . "As good as the Audi S6 e-tron is to drive, it’s hard to ignore that the Porsche Taycan 4S costs the same and is much better for performance and handling." – Dan Jones, Senior Reviewer Interior Taking a seat in the Audi S6 e-tron is a comfortable affair, with the driving position lining you up perfectly with the pedals and steering wheel. The Sports Plus seats giving you plenty of electrical adjustment, including lumbar support, and loads of side bolster to keep you in place in fast corners. As with the Audi A6 e-tron, you sit quite low within the S6 e-tron’s interior, and that doesn’t help when it comes to visibility, especially in the sleek Sportback (hatchback) version. You see, the sloping roofline compromises the view over your shoulder, while the letterbox rear window limits the amount that you can see out of the back. The Avant estate car is better, with large rear windows and a slightly larger back window, but the BMW i5 Touring is better still. At least you get plenty of parking aids to help make reversing easier, including front and rear parking sensors, a surround-view camera and a system that allows the car to park itself. Meanwhile, standard-fit matrix LED headlights ensure you’ll see plenty at night, allowing you to leave full beam on at all times without dazzling other drivers. Infotainment is displayed on a big 14.5in touchscreen within a large curved fascia that dominates the top of the dashboard and also includes an 11.9in digital driver's display. Both are high definition and really easy to read. The infotainment system itself is easy to navigate and responds to all your prods quickly. It’s just a shame that you won’t find any physical controls for the system, as you do in the BMW i5 , which gets a physical controller. As a result, the S6 e-tron's system is more distracting to use while you're driving. The only buttons you’ll find are touch-sensitive ones on the steering wheel, and while they’re handy for setting the cruise control , they’re also easy to operate accidentally. While interior quality in the regular Audi A6 e-tron is a little let down by some of the materials, that isn’t the case in the S6: every surface is covered with varied and quality-feeling materials. Sure, there are still some scratchy plastics, but they’re hidden out of the way in places you won't touch often. "I’d avoid the optional camera wing mirrors. The latest versions are better than the old ones but they’re still so frustrating and give you zero depth perception." – Dan Jones, Senior Reviewer Passenger & boot space Regardless of whether you go for the Audi S6 e-tron in Sportback or Avant form, you’ll find there’s plenty of space in the front, even if you’re six feet tall. Indeed, you’ll find that there’s head room to spare and more than enough shoulder room to stop you rubbing shoulders with your passenger. There’s an impressive amount of front storage, with both versions getting a couple of cupholders, decent-sized door bins, a space within the central armrest and a space under the centre console for a smartphone. Space in the rear isn’t quite as impressive, with both versions offering a decent amount of leg room but not all that much head room. Granted, the Avant estate car is better thanks to its higher roofline, but neither is as generous as the equivalent BMW i5 , with the Sportback’s sleek silhouette really eating into the head room. The boot space , meanwhile, is 502 litres whether you go for the hatchback or estate S6. That’s fairly impressive in the Sportback, beating the i5 and the Porsche Taycan but means that the S6 Avant e-tron’s boot is around 70 litres smaller than the one in the BMW i5 Touring . Either way, you won’t struggle to fit your family’s holiday luggage or a big load of shopping back there. What’s more, the S6 e-tron comes with a handy 25-litre frunk (front boot), which gives you a place to store your charging cables and frees up boot space . "I think it’s really handy that you get 40/20/40 split-folding rear seats. They let you feed long items through from the boot without compromising the outer rear seats." – Dan Jones, Senior Reviewer Buying & owning Those after the Audi S6 e-tron Sportback or Avant as a cash purchase can expect to pay slightly less for the equivalent Porsche Taycan 4S and around the same for the equivalent BMW i5 . Customers buying on PCP finance will be happy to know that the S6 e-tron is predicted to depreciate at the same rate as the BMW i5 Touring and much slower than the Taycan, and that helps to keep monthly payments competitive. Company car drivers can expect to pay around the same BIK tax on all three. There’s only one trim level available with the S6 e-tron but it comes packed with kit, including 21in alloy wheels, a panoramic glass sunroof with switchable transparency, soft-close doors, a Napa leather interior, heated and ventilated front seats, heated rear seats, a Bang & Olufsen premium sound system with 16-speakers (including in the front headrests) and wireless phone-charging. Providing you can find a charger that’s fast enough, the S6 e-tron’s maximum charging rate of 270kW means it should go from 10-80% in just 21 minutes. For context, that’s slightly faster than the BMW i5 and Mercedes-AMG EQS but slower than the Porsche Taycan , which can charge up to 320kW. The S6 e-tron is too new to have been included in our 2024 What Car? Reliability Survey . Audi placed 24th out of the 31 brands included, below BMW, Porsche and Mercedes. A three-year/60,000-mile warranty comes as standard with the S6 e-tron. At the time of writing, the S6 e-tron has not been tested for safety by Euro NCAP . We can tell you that it comes with lots of safety equipment, including automatic emergency braking ( AEB ), lane-departure warning, front cross-traffic assist, traffic-sign recognition and driver-attention monitoring. "Unlike with the BMW i5 , there are not many options you can add to the Audi S6 e-tron but I don't see that as a problem because of the extensive equipment list." – Dan Jones, Senior Reviewer For all the latest reviews, advice and new car deals, sign up to the What Car? newsletter here FAQs With its 94.9kWh (usable) battery, the S6 e-tron will officially cover up to 402 miles between charges. The S6 e-tron’s two motors produce a total of 496bhp and feed it to all four wheels, meaning it has four-wheel drive . As a cash purchase, the S6 e-tron will cost you slightly more than the equivalent Porsche Taycan 4S and about the same as the BMW i5 M60 xDrive . With a maximum charging rate of 270kW, the S6 e-tron will go from 10-80% in around 21 minutes – faster than the BMW i5 but quite a bit slower than the Porsche Taycan .
NoneBethlehem marks a second subdued Christmas Eve during the war in Gaza BETHLEHEM, West Bank (AP) — Bethlehem is marking another somber Christmas Eve under the shadow of war in Gaza. Manger Square lacked its usual festive lights and crowds of tourists on Tuesday. Instead, the area outside the Nativity Church was quiet. The church was built atop the spot where Jesus is believed to have been born. The war, the violence in the occupied West Bank it has spurred and the lack of festivities has deeply hurt Bethlehem's economy. The town relies heavily on Christmas tourism. The economy in the West Bank was already reeling because of restrictions placed on laborers preventing them from entering Israel during the war. Pope Francis kicks off a yearlong Jubilee that will test his stamina and Rome's patience VATICAN CITY (AP) — Pope Francis has opened the great Holy Door of St. Peter's Basilica. The ceremony kicks off the 2025 Holy Year. It's a celebration of the Catholic Church that is expected to draw some 32 million pilgrims to Rome. And it will test the pope’s stamina and the ability of the Eternal City to welcome them. This begins the Christmas Eve Mass. The ceremony inaugurates the once-every-25-year tradition of a Jubilee. Francis has dedicated the 2025 Jubilee to the theme of hope. Trump vows to pursue executions after Biden commutes most of federal death row FORT LAUDERDALE, Fla. (AP) — President-elect Donald Trump says he'll “vigorously pursue” capital punishment after President Joe Biden commuted the sentences of most people on federal death row partly to stop Trump from pushing forward their executions. Trump criticized Biden’s decision on Monday to change the sentences of 37 of the 40 condemned people to life in prison without parole. Trump said that he will direct the Department of Justice to pursue the death penalty “as soon as I am inaugurated.” Trump was vague on what specific actions he may take. 21 dead as Mozambique erupts in violence after election court ruling MAPUTO, Mozambique (AP) — Violence that engulfed Mozambique after the country’s highest court confirmed ruling party presidential candidate Daniel Chapo as the winner of disputed Oct. 9 elections has killed at least 21 people, including two police officers. Mozambique Interior Minister Pascoal Ronda told a news conference in Maputo late Tuesday that a wave of violence and looting was sparked by the court’s announcement a day earlier. He said it was led by mostly youthful supporters of losing candidate Venancio Mondlane, who received 24% of the vote, second to Chapo, who got 65%. Prosecutors find workers in 'slavery like' conditions at Chinese car company site in Brazil RIO DE JANEIRO, Brazil (AP) — A task force led by Brazilian prosecutors says it has rescued 163 Chinese nationals working in “slavery-like” conditions at a construction site in northeastern Brazil, where Chinese electric vehicle company BYD is building a factory. The Labor Prosecutor’s Office released videos of the dorms where the construction workers were staying, which showed beds with no mattresses and rooms without any place for the workers to store their personal belongings. In a statement issued Monday, the prosecutor’s office said the workers had been hired in China by Jinjian Group, one of the contractors on the site, which is located in Camaçari, a city in the Salvador metropolitan region. NFL players who use platform to share their faith say it's their duty to spread their love of Jesus ALLEN PARK, Mich. (AP) — Jake Bates was standing on the turf in his hometown of Houston when asked to reflect on an unlikely journey from learning how to sell bricks to making game-winning kicks for the Detroit Lions. Bates used his platform as an NFL player to spread his love of Jesus. A month later, Bates told The Associated Press it is a duty to share his faith. The NFL is filled with players and coaches who feel the same way, such as Houston's C.J. Stroud, Atlanta's Kirk Cousins, and Lamar Jackson and John Harbaugh of the Baltimore Ravens. Stunning photos show lava erupting from Hawaii's Kilauea volcano HONOLULU (AP) — Lava is erupting from Hawaii’s Kilauea volcano for the second straight day. The eruption has stayed within Kilauea’s summit caldera inside Hawaii Volcanoes National Park and no homes are threatened. Molten rock began spewing out of the volcano before dawn on Monday when fissures opened in the caldera floor and shot lava high into the air. It then oozed across the caldera floor. Scientists expect activity to fluctuate in coming days. The lava paused Monday afternoon but fountains reemerged Tuesday morning. The eruption has occurred in an area that’s been closed to the public since 2007 due to hazards including crater wall instability and rockfalls. Haiti gang attack on journalists covering a hospital reopening leaves 2 dead, several wounded PORT-AU-PRINCE, Haiti (AP) — Haiti’s online media association confirms that two reporters were killed and others wounded in a gang attack on the re-opening of Port-au-Prince’s biggest public hospital. Street gangs have taken over an estimated 85% of Haiti’s capital, Port-au-Prince, and they forced the closure of the General Hospital early this year. Authorities had pledged to reopen the facility Tuesday but as journalists gathered to cover the event, suspected gang members opened fire in a vicious Christmas eve attack. The killed journalists were identified as Markenzy Nathoux and Jimmy Jean. An unspecified number of reporters had also been wounded in the attack, which was blamed on the Viv Ansanm gang. Hurricane-force winds bear down on California, latest in stretch of extreme weather LOS ANGELES (AP) — California has been hit hard by extreme weather over the past several weeks. Atmospheric rivers, which are long stretches of wet air that can produce heavy rains, brought a record-setting rainfall before Thanksgiving. A series of atmospheric rivers are producing strong waves and storms near Santa Cruz this week. Thousands were left under evacuation warnings and orders because of a fire around Malibu. Climate change means that strong storms will be responsible for a greater share of the state's yearly precipitation and the periods between those events will be drier. Heavy travel day starts with brief grounding of all American Airlines flights WASHINGTON (AP) — American Airlines briefly grounded flights nationwide due to a technical problem just as the Christmas travel season kicked into overdrive and winter weather threatened more potential problems for those planning to fly or drive. Government regulators cleared American flights to get airborne Tuesday about an hour after the Federal Aviation Administration ordered a national ground stop, which prevented planes from taking off. American said in an email that the problem was caused by vendor technology in its flight operating system. Aviation analytics company Cirium said flights were delayed across American’s major hubs, with only 37% leaving on time. Nineteen flights were cancelled.Offseason work pays off in thrilling victory