CleanSpark Reports $378 Million Quarterly Loss as Bitcoin Price Pressure Weighs on Earnings

Bitcoin mining company CleanSpark reported a net loss of $378.3 million in its fiscal second quarter, more than double the loss recorded during the same period last year. The weaker results were largely linked to falling Bitcoin prices, which affected the value of the company’s crypto holdings.

For the quarter ending March 31, 2026, CleanSpark reported a $224.1 million loss tied to the fair value of its Bitcoin reserves, making up nearly 60% of the company’s total quarterly loss. At the end of the quarter, the miner held Bitcoin worth around $925.2 million.

Revenue also declined to $136.4 million, compared with $181.7 million a year earlier. Loss per basic share widened to $1.52 from $0.49 during the same quarter in 2025.

CleanSpark Stock Falls After Earnings Release

Despite posting higher Bitcoin holdings and an 18% increase in monthly hashrate, investor reaction remained cautious. CleanSpark shares closed slightly higher at $14.30 before falling nearly 9.5% in after-hours trading following the earnings announcement.

CleanSpark Expands AI and High-Performance Computing Strategy

The company is also expanding into artificial intelligence and high-performance computing infrastructure. CleanSpark increased contracted power capacity and secured 585 megawatts of approved energy capacity in Texas while continuing site development in Georgia.

The company ended the quarter with $260.3 million in cash and $2.9 billion in assets, although long-term debt increased sharply to $1.8 billion.