Business
CleanSpark Reports Second Quarter Fiscal 2025 Results
$181.7M quarterly revenue, up 62.5% from prior year Bitcoin production grew to 1,957, with an average revenue per coin of $92,811 LAS VEGAS, May 8, 2025
About this update from Cleanspark, Inc.
[{"type":"text","content":"$181.7M quarterly revenue, up 62.5% from prior year\nBitcoin production grew to 1,957, with an average revenue per coin of $92,811 \nLAS VEGAS, May 8, 2025 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the \"Company\"), America's Bitcoin Miner®, today reported financial results for the quarter ended March 31, 2025.\n\n \n \n \n \n \n \n\n \n\"This was a quarter defined by discipline, scale, and continued strategic clarity,\" said Zach Bradford, CleanSpark's CEO. \"As other players shift direction or decelerate growth, CleanSpark has doubled down on being the only remaining pure-play, public bitcoin miner. We believe that focus matters now more than ever, and we remain on track to reach our 50 EH/s target during June, all while growing our bitcoin treasury, strengthening the balance sheet, and prioritizing long-term stockholder value.\"\n\"CleanSpark has a track record of leadership in this industry,\" Bradford continued. \"We've been infrastructure-first since the beginning, we pioneered the ASIC option structure to control our own destiny, and now we're leading the way in treasury management and non-dilutive financing.\"\n\"Our results reflect the operating leverage that comes with scale, paired with disciplined cost control,\" said Gary Vecchiarelli, CleanSpark's CFO. \"We continued to invest in strategic and accretive expansion without relying on dilutive capital, as demonstrated by our expanded revolving line with Coinbase. Additionally, we maintain one of the most efficient cost structures in the industry. Our Digital Asset Management group made meaningful progress during the quarter and is preparing to optimize our treasury, positioning bitcoin as both a productive asset and a source of strength on our balance sheet. These efforts reinforce our long-term focus: scale with discipline, capital efficiency, and stockholder value.\"\nFinancial Highlights: Second Quarter Fiscal Year 2025Financial Results for the Three Months Ended March 31, 2025\nQuarterly revenues were $181.7 million, an increase of $69.9 million, or 62.5%, from $111.8 million for the same prior fiscal quarter.Net loss for the three months ended March 31, 2025, was ($138.8 million) or ($0.49) per basic share, compared to net income of $126.7 million or $0.59 per basic share, for the same prior year period.Adjusted EBITDA(1) decreased to ($57.8 million) from ...