Cleanspark reported a internet lack of $378.3 million for its fiscal second quarter ended March 31, 2026, as a $224.1 million non-cash loss on bitcoin’s honest worth weighed closely on outcomes whilst the corporate expanded its hash price and vitality capability.
Key takeaways:
- Cleanspark posted income of $136.4 million in Q2 FY2026, a 24.9% year-over-year drop pushed by Bitcoin worth swings.
- A non-cash Bitcoin honest worth lack of $224.1 million introduced Cleanspark’s internet loss to $378.3 million for the March 2026 quarter.
- CEO Matt Schultz eyes AI/HPC commercialization as Cleanspark doubled MW below contract with 585 MW of ERCOT capability.
Cleanspark Posts $378M Q2 Loss as Bitcoin Truthful Worth Swing Hits Outcomes
Cleanspark’s (Nasdaq: CLSK) income for the quarter was $136.4 million, down $45.3 million, or 24.9%, from $181.7 million within the year-ago interval. The drop mirrored bitcoin worth dynamics and growing community problem regardless of operational progress throughout the corporate’s US mining portfolio.
Web loss was $1.52 per fundamental share in comparison with a lack of $0.49 per share within the prior-year quarter. Value of income amounted to $81.7 million, whereas depreciation and amortization reached $115.9 million, a determine that elevated with the continued growth of the corporate’s fleet.
Adjusted EBITDA, a non-GAAP measure that excludes non-cash gadgets together with the honest worth adjustment for bitcoin, was adverse $241.2 million in comparison with adverse $57.8 million within the prior-year interval.
On the steadiness sheet, Cleanspark had $260.3 million in money and $925.2 million in bitcoin as of March 31, 2026. That bitcoin determine represents a 14% year-over-year enhance. Complete belongings have been $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% 12 months over 12 months. Megawatts below 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 President Matt Schultz pointed to 4 areas of progress.
“This quarter, we accelerated the evolution of our digital infrastructure in 4 key areas: land and vitality 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 to develop the brand new parcel in Sandersville,” he stated.
Schultz added:
“Our aims are clear: commercialize our AI/HPC belongings, develop the portfolio and proceed mining effectively.”
President and CFO Gary Vecchiarelli known as the steadiness sheet a aggressive benefit as the corporate enters its subsequent section. He stated Cleanspark ended the quarter with sufficient liquidity to help near-term execution whereas preserving optionality as demand for synthetic intelligence (AI) and high-performance computing (HPC) infrastructure grows.
The corporate stated it controls greater than 1.8 gigawatts of information middle, land and energy belongings throughout the USA. Cleanspark’s assertion notes that it positions its low-cost energy base as a basis for each bitcoin mining and potential AI and HPC workloads, with website commercialization initiatives underway.
The corporate additionally famous uncertainty round tariff legal responsibility for miners bought from 2024.
