Quarterly ResultMay 11, 2026, 04:27 PM
CleanSpark Q2 Revenue $136.4M, Net Loss ($378.3M)
AI Summary
CleanSpark reported its second fiscal quarter 2026 results, with revenues decreasing 24.9% year-over-year to $136.4 million and a net loss of ($378.3 million), significantly wider than the prior year's ($138.8 million). Adjusted EBITDA also saw a substantial decrease. Despite the financial downturn, the company highlighted operational growth, including doubling its MW under contract year-over-year and increasing Bitcoin holdings by 14%. CleanSpark emphasized its strong balance sheet and liquidity position to support future growth and infrastructure opportunities.
Key Highlights
- Q2 2026 revenues were $136.4 million, a 24.9% decrease year-over-year.
- Net loss for Q2 2026 was ($378.3 million), or ($1.52) per basic share.
- Adjusted EBITDA decreased to ($241.2 million) from ($57.8 million) year-over-year.
- Doubled MW under contract year-over-year, including 585 MW of ERCOT-approved capacity.
- Increased Bitcoin holdings by 14% year-over-year to $925.2 million.
- Ended the quarter with $260.3 million in cash.
- Total long-term debt, net, was $1.8 billion as of March 31, 2026.