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Cleanspark reported a $378.3 cardinal nett nonaccomplishment for its 2nd fiscal 4th ended March 31, 2026, arsenic a $224.1 cardinal non-cash nonaccomplishment connected bitcoin just worth weighed heavy connected results adjacent arsenic the institution expanded its hashrate and powerfulness capacity.
Key Takeaways
- Cleanspark posted $136.4M successful Q2 FY2026 revenue, a 24.9% year-over-year driblet driven by Bitcoin terms swings.
- A $224.1M non-cash Bitcoin just worth nonaccomplishment pushed Cleanspark’s nett nonaccomplishment to $378.3M for the March 2026 quarter.
- CEO Matt Schultz targets AI/HPC commercialization arsenic Cleanspark doubled MW nether declaration with 585 MW of ERCOT capacity.
Cleanspark Posts $378M Loss successful Q2 arsenic Bitcoin Fair Value Swing Hits Results
Cleanspark’s (Nasdaq: CLSK) Revenue for the 4th came successful astatine $136.4 million, down $45.3 million, oregon 24.9%, from $181.7 cardinal successful the aforesaid play a twelvemonth earlier. The diminution reflected bitcoin terms dynamics and rising web trouble contempt operational maturation crossed the company’s U.S. mining portfolio.
The nett nonaccomplishment was $1.52 per basal stock compared to a nonaccomplishment of $0.49 per stock successful the anterior twelvemonth quarter. Cost of revenues totaled $81.7 million, portion depreciation and amortization reached $115.9 million, a fig that climbed with the firm’s ongoing fleet expansion.
Adjusted EBITDA, a non-GAAP measurement that strips retired non-cash items including the bitcoin just worth adjustment, came successful astatine antagonistic $241.2 cardinal compared to antagonistic $57.8 cardinal successful the year-ago period.
On the equilibrium sheet, Cleanspark held $260.3 cardinal successful currency and $925.2 cardinal successful bitcoin arsenic of March 31, 2026. That bitcoin fig represents a 14% summation year-over-year. Total assets stood astatine $2.9 billion, with semipermanent indebtedness of $1.79 cardinal and full stockholders’ equity of $986.2 million. The institution reported moving superior of $1 billion.
Operationally, the miner’s mean monthly hashrate accrued 18% year-over-year. Megawatts nether declaration doubled implicit the aforesaid period, including 585 MW of ERCOT-approved capableness successful Texas. Cleanspark besides secured ERCOT support for 300 MW successful Brazoria and continued leasing advancement successful Georgia, including operation enactment successful Sandersville.
CEO and Chairman Matt Schultz pointed to 4 areas of guardant progress.
“This quarter, we accelerated our integer infrastructure improvement crossed 4 cardinal areas: onshore and powerfulness development, with ERCOT support of 300 MW successful Brazoria; leasing, with further advancement successful Georgia and beyond; financing, arsenic marketplace conditions stay constructive; and construction, arsenic we proceed processing the caller parcel successful Sandersville,” helium said.
Schultz added:
“Our objectives are clear: commercialize our AI/HPC-applicable assets, turn the portfolio, and proceed mining efficiently.”
President and CFO Gary Vecchiarelli called the equilibrium expanse a competitory vantage heading into the company’s adjacent phase. He said Cleanspark ended the 4th with capable liquidity to enactment near-term execution portion preserving optionality arsenic artificial quality (AI) and high-performance computing (HPC) infrastructure request grows.
The institution said it controls much than 1.8 gigawatts of power, land, and information halfway assets crossed the United States. Cleanspark merchandise notes that it positions its low-cost vigor basal arsenic a instauration for some bitcoin mining and imaginable AI and HPC workloads, with tract commercialization initiatives underway.
The institution besides flagged uncertainty astir tariff liability connected miners purchased since 2024.
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