Cleanspark reported a $378.3 million internet loss for its second fiscal quarter ended March 31, 2026, as a $224.1 million non-cash loss on bitcoin truthful worth weighed closely on outcomes whilst the corporate expanded its hashrate and energy capability.
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Key Takeaways:
- Cleanspark posted $136.4M in Q2 FY2026 income, a 24.9% year-over-year drop pushed by Bitcoin value swings.
- A $224.1M non-cash Bitcoin truthful worth loss pushed Cleanspark’s internet loss to $378.3M for the March 2026 quarter.
- CEO Matt Schultz targets AI/HPC commercialization as Cleanspark doubled MW beneath contract with 585 MW of ERCOT capability.
Cleanspark Posts $378M Loss in Q2 as Bitcoin Truthful 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 issue regardless of operational development throughout the corporate’s U.S. mining portfolio.
The web loss was $1.52 per fundamental share in comparison with a lack of $0.49 per share within the prior 12 months quarter. Value of revenues totaled $81.7 million, whereas depreciation and amortization reached $115.9 million, a determine that climbed with the agency’s ongoing fleet growth.
Adjusted EBITDA, a non-GAAP measure that strips out non-cash gadgets together with the bitcoin truthful worth adjustment, got here in at damaging $241.2 million in comparison with damaging $57.8 million within the year-ago interval.
On the stability 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% improve year-over-year. Whole belongings stood at $2.9 billion, with long-term debt of $1.79 billion and whole 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 beneath 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 development 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 development, as we proceed creating the brand new parcel in Sandersville,” he stated.
Schultz added:
“Our targets are clear: commercialize our AI/HPC-applicable belongings, develop the portfolio, and proceed mining effectively.”
President and CFO Gary Vecchiarelli referred to as the stability sheet a aggressive benefit heading into the corporate’s subsequent part. 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 belongings throughout america. Cleanspark launch notes that it positions its low-cost power 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.
