CleanSpark reports record revenue in ‘most successful’ quarter ever

Bitcoin miner CleanSpark has reported its best-ever quarterly results, with its highest-ever gross and profitability beating expert expectations.

CleanSpark said connected Thursday that its gross for its 3rd 4th from April to June was $198.6 million, a 91% summation from its $104 cardinal successful revenues from the aforesaid 4th a twelvemonth ago, beating expert expectations of astir $195 million.

“This was the astir palmy 4th successful CleanSpark’s history, and it reflects the spot of our strategy,” said CleanSpark CEO Zach Bradford.

The steadfast besides reported a quarterly nett income of $257.4 cardinal compared to a nonaccomplishment of $236.2 cardinal successful the erstwhile year. Its diluted net per stock were 78 cents, acold outpacing analysts’ expectations of astir 20 cents per share.

“Fiscal Q3 was a pivotal 4th for CleanSpark, arsenic we afloat funded operational expenses done monthly Bitcoin accumulation portion simultaneously expanding our Bitcoin treasury,” said its main fiscal officer, Gary Vecchiarelli. 

First institution to deed hashrate milestone 

CleanSpark besides claimed to beryllium the archetypal nationalist mining institution to execute 50 exahashes per 2nd successful the US and to person 5.8% of planetary hashrate nether management. 

“We reached 50 EH/s of operational hashrate successful June, becoming the archetypal nationalist institution to bash truthful exclusively with American infrastructure,” said Bradford.

The steadfast expanded its Bitcoin (BTC) treasury to implicit $1 cardinal successful value, without needing to rise superior done equity offerings successful 2025. 

CleanSpark presently holds 12,703 BTC worthy astir $1.48 cardinal astatine existent marketplace prices, making it the ninth-largest holder of Bitcoin among nationalist companies.

Results neglect to woo investors

Shares successful CleanSpark (CLSK) ended trading connected Thursday down implicit 2.5% to $10.72 and saw lone a flimsy bump after-hours that cooled to a little than 1% gain.

CLSK prices commercialized down connected the day. Source: Google Finance

Shares successful the crypto miner person gained 16.4% since the opening of 2025, performing amended than assemblage person MARA Holdings, which is down implicit 7% this year.

Related: IREN soars 11% aft mining much Bitcoin than MARA successful July

Big 4th for Bitcoin miners

Bitcoin mining firms person had a bumper quarter, chiefly owed to the assets' 32% appreciation successful worth implicit the period. 

In precocious July, MARA Holdings bushed expert expectations successful its second-quarter earnings with revenues up 64% year-on-year to $238 million.

Meanwhile, Riot Platforms reported a grounds $219.5 cardinal successful nett income for the period. 

Magazine: Philippines blocks large crypto exchanges, Coinbase scammer’s stash: Asia Express