1 month ago
Bitcoin miner CleanSpark (CLSK) recorded a nett nonaccomplishment of $378.3 cardinal successful its fiscal 2nd quarter, much than doubling the $138.8 cardinal nonaccomplishment reported successful the aforesaid play a twelvemonth ago, mostly owed to a crisp driblet successful Bitcoin’s price.
On Monday, the Las Vegas-based miner disclosed the results for the 4th ended March 31, 2026. It reported a $224.1 cardinal nonaccomplishment tied to the just worth of its Bitcoin holdings, accounting for astir 60% of the full quarterly loss. The institution held $925.2 cardinal worthy of BTC astatine quarter’s end.
It reported a fiscal second-quarter nett nonaccomplishment of $1.52 per basal share, widening from a nonaccomplishment of $0.49 a twelvemonth earlier. Revenue for the 4th ended March 31 was $136.4 million, down from $181.7 cardinal a twelvemonth earlier.
Despite the Bitcoin-driven losses, CleanSpark grew its BTC holdings by 14% and accrued its mean monthly hashrate by 18% year-over-year.
CleanSpark shares driblet successful after-hours trading. Source: Yahoo Finance
Shares closed up 0.70% astatine $14.30 connected Monday but fell 9.51% successful after-hours trading to $12.94 pursuing the net release.
Related: Bitcoin Miner Bitdeer Liquidates Entire BTC Treasury, Holdings Fall to Zero
CleanSpark shifts toward AI
Like galore of its peers, CleanSpark is pushing into artificial quality and high-performance computing infrastructure. The institution doubled its contracted megawatts year-over-year and secured 585 megawatts of ERCOT-approved capableness successful Texas, portion continuing tract improvement successful Sandersville, Georgia.
“Our objectives are clear: commercialize our AI/HPC-applicable assets, turn the portfolio, and proceed mining efficiently to powerfulness CleanSpark's transformation,” CEO and president Matt Schultz said. The institution ended the 4th with $260.3 cardinal successful currency and $2.9 cardinal successful full assets, per the announcement. However, semipermanent indebtedness astir tripled, from $644.6 cardinal to $1.8 billion, six months prior.
Related: Saylor signals different Bitcoin bargain aft hinting astatine selling successful Q1 net call
More miners spot quarterly losses
As Cointelegraph reported, MARA Holdings posted a $1.3 billion nonaccomplishment for the archetypal 4th of 2026, widening sharply from $533.4 cardinal a twelvemonth earlier, arsenic unrealized losses connected its 38,689 Bitcoin treasury dragged connected results. Revenue fell 18% year-on-year to $174.6 million, missing expert expectations of $192.7 million.
TeraWulf besides recorded a nett nonaccomplishment of $427 million successful the aforesaid quarter, up from $61.4 cardinal a twelvemonth earlier, though its pivot to AI infrastructure showed aboriginal results, with HPC gross hitting $21 million, astir 60% of full revenue.
Magazine: Bitcoin volition not deed $1M by 2030, says seasoned trader Peter Brandt
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