{"id":72384,"date":"2026-05-12T03:43:44","date_gmt":"2026-05-12T03:43:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miner-cleanspark-posts-378m-loss-in-q2\/"},"modified":"2026-05-12T03:43:44","modified_gmt":"2026-05-12T03:43:44","slug":"bitcoin-miner-cleanspark-posts-378m-loss-in-q2","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miner-cleanspark-posts-378m-loss-in-q2\/","title":{"rendered":"Bitcoin Miner Cleanspark Posts $378M Loss in Q2"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Cleanspark posted $136.4M in Q2 FY2026 revenue, a 24.9% year-over-year drop driven by Bitcoin price swings.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">A $224.1M non-cash Bitcoin fair value loss pushed Cleanspark\u2019s net loss to $378.3M for the March 2026 quarter.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">CEO Matt Schultz targets AI\/HPC commercialization as Cleanspark doubled MW under contract with 585 MW of ERCOT capacity.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Cleanspark Posts $378M Loss in Q2 as <span>Bitcoin<\/span> Fair Value Swing Hits Results<\/h2>\n<p><a href=\"https:\/\/news.bitcoin.com\/cleanspark-rolls-out-1-billion-convertible-note-plan-for-expansion\/\">Cleanspark<\/a>\u2019s (Nasdaq: <a href=\"https:\/\/bitcoinminingstock.io\/company\/clsk\" target=\"_blank\" rel=\"noopener noreferrer\">CLSK<\/a>) Revenue for the quarter came in at $136.4 million, down $45.3 million, or 24.9%, from $181.7 million in the same period a year earlier. The decline reflected <span>bitcoin<\/span> price dynamics and rising network difficulty despite operational growth across the company\u2019s U.S. mining portfolio.<\/p>\n<p>The net loss was $1.52 per basic share compared to a loss of $0.49 per share in the prior year quarter. Cost of revenues totaled $81.7 million, while depreciation and amortization reached $115.9 million, a figure that climbed with the firm\u2019s ongoing fleet expansion.<\/p>\n<p>Adjusted EBITDA, a non-GAAP measure that strips out non-cash items including the <span>bitcoin<\/span> fair value adjustment, came in at negative $241.2 million compared to negative $57.8 million in the year-ago period.<\/p>\n<p>On the balance sheet, Cleanspark held $260.3 million in cash and $925.2 million in <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> as of March 31, 2026. That <a href=\"https:\/\/news.bitcoin.com\/south-koreans-pull-41b-from-crypto-as-bitcoin-slump-pushes-cash-into-stocks\/\">bitcoin<\/a> figure represents a 14% increase year-over-year. Total assets stood at $2.9 billion, with long-term debt of $1.79 billion and total stockholders\u2019 equity of $986.2 million. The company reported working capital of $1 billion.<\/p>\n<p>Operationally, the miner\u2019s average monthly <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-bitcoin-hashrate\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">hashrate<\/a> increased 18% year-over-year. Megawatts under contract doubled over the same period, including 585 MW of ERCOT-approved capacity in <a href=\"https:\/\/news.bitcoin.com\/soluna-holdings-expands-blockware-partnership-to-wind-powered-west-texas-site-topping-17-mw\/\">Texas<\/a>. Cleanspark also secured ERCOT approval for 300 MW in Brazoria and continued leasing progress in Georgia, including construction work in Sandersville.<\/p>\n<p>CEO and Chairman Matt Schultz pointed to four areas of forward progress.<\/p>\n<p>\u201cThis quarter, we accelerated our digital infrastructure evolution across four key areas: land and power development, with ERCOT approval of 300 MW in Brazoria; leasing, with further progress in Georgia and beyond; financing, as market conditions remain constructive; and construction, as we continue developing the new parcel in Sandersville,\u201d he said.<\/p>\n<p>Schultz added:<\/p>\n<blockquote>\n<p>\u201cOur objectives are clear: commercialize our AI\/HPC-applicable assets, grow the portfolio, and continue mining efficiently.\u201d<\/p>\n<\/blockquote>\n<p>President and CFO Gary Vecchiarelli called the balance sheet a competitive advantage heading into the company\u2019s next phase. He said Cleanspark ended the quarter with enough <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-liquidity\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">liquidity<\/a> to support near-term execution while preserving optionality as artificial intelligence (AI) and high-performance computing (HPC) infrastructure demand grows.<\/p>\n<p>The company said it controls more than 1.8 gigawatts of power, land, and data center assets across the United States. Cleanspark release notes that it positions its low-cost energy base as a foundation for both <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-bitcoin-mining\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin mining<\/a> and potential AI and HPC workloads, with site commercialization initiatives underway.<\/p>\n<p>The company also flagged uncertainty around tariff liability on miners purchased since 2024.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-miner-cleanspark-posts-378m-loss-in-q2\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Cleanspark posted $136.4M in Q2 FY2026 revenue, a 24.9% year-over-year drop driven by Bitcoin price swings. A $224.1M non-cash Bitcoin fair value loss pushed Cleanspark\u2019s net loss to $378.3M for the March 2026 quarter. CEO Matt Schultz targets AI\/HPC commercialization as Cleanspark doubled MW under contract [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":72385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72384"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72384"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72385"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}