Bitcoin Miner Cleanspark Posts $378M Loss in Q2

Cleanspark Posts $378M Loss in Q2 as Bitcoin Honest Worth Swing Hits Outcomes

Cleanspark’s (Nasdaq: CLSK) Income for the quarter got here in at $136.4 million, down $45.3 million, or 24.9%, from $181.7 million in the identical interval a 12 months earlier. The decline mirrored bitcoin value dynamics and rising community problem regardless of operational development throughout the corporate’s U.S. mining portfolio.

The online loss was $1.52 per primary share in comparison with a lack of $0.49 per share within the prior 12 months quarter. Price of revenues totaled $81.7 million, whereas depreciation and amortization reached $115.9 million, a determine that climbed with the agency’s ongoing fleet enlargement.

Adjusted EBITDA, a non-GAAP measure that strips out non-cash objects together with the bitcoin truthful worth adjustment, got here in at adverse $241.2 million in comparison with adverse $57.8 million within the year-ago interval.

On the steadiness sheet, Cleanspark held $260.3 million in money and $925.2 million in bitcoin as of March 31, 2026. That bitcoin determine represents a 14% enhance year-over-year. Complete property stood at $2.9 billion, with long-term debt of $1.79 billion and complete stockholders’ fairness of $986.2 million. The corporate reported working capital of $1 billion.

Operationally, the miner’s common month-to-month hashrate elevated 18% year-over-year. Megawatts underneath contract doubled over the identical interval, together with 585 MW of ERCOT-approved capability in Texas. Cleanspark additionally secured ERCOT approval for 300 MW in Brazoria and continued leasing progress in Georgia, together with building work in Sandersville.

CEO and Chairman Matt Schultz pointed to 4 areas of ahead progress.

“This quarter, we accelerated our digital infrastructure evolution throughout 4 key areas: land and energy growth, with ERCOT approval of 300 MW in Brazoria; leasing, with additional progress in Georgia and past; financing, as market situations stay constructive; and building, as we proceed growing the brand new parcel in Sandersville,” he stated.

Schultz added:

“Our goals are clear: commercialize our AI/HPC-applicable property, develop the portfolio, and proceed mining effectively.”

President and CFO Gary Vecchiarelli referred to as the steadiness sheet a aggressive benefit heading into the corporate’s subsequent section. He stated Cleanspark ended the quarter with sufficient liquidity to help near-term execution whereas preserving optionality as synthetic intelligence (AI) and high-performance computing (HPC) infrastructure demand grows.

The corporate stated it controls greater than 1.8 gigawatts of energy, land, and information middle property throughout the USA. Cleanspark launch notes that it positions its low-cost vitality base as a basis for each bitcoin mining and potential AI and HPC workloads, with web site commercialization initiatives underway.

The corporate additionally flagged uncertainty round tariff legal responsibility on miners bought since 2024.