CleanSpark Shares Slide After Revenue Falls Short of Wall Street Expectations

Bitcoin mining company CleanSpark saw its shares drop 5.5% on Thursday after reporting quarterly revenue that came in below what analysts on Wall Street had been expecting.

Revenue Declines Sharply Year-Over-Year

The Nasdaq listed miner posted $138 million in revenue for its third fiscal quarter of 2026, marking a 30.5% drop from the $198 million reported during the same period last year. The company also swung to a net loss of $239 million, or $0.89 per basic share, compared to a net income of $257 million, or $0.90 per share, a year earlier. The revenue figure narrowly missed the consensus estimate of $142.2 million compiled by analysts.

After falling on Thursday, CleanSpark shares staged a modest 3% pre-market rebound Friday, trading above $13.10.

Company Continues AI Infrastructure Expansion

CleanSpark has been diversifying beyond core Bitcoin mining into AI and high-performance computing infrastructure. Earlier this month, the company signed a 20-year data center lease with an undisclosed global technology company for a 175-megawatt facility at its Georgia campus, a deal projected to generate $6.6 billion in contracted revenue.