CleanSpark, American Bitcoin mining firm, introduced its monetary outcomes for the second quarter of fiscal 12 months 2025, reporting $181.7 million in income for the three months ended March 31. This marks a 62.5% enhance from $111.8 million in the identical quarter final 12 months.
Regardless of the income development, the corporate reported a web lack of $138.8 million, or $0.49 per fundamental share, in comparison with web earnings of $126.7 million, or $0.59 per fundamental share, in the course of the prior-year interval. Adjusted EBITDA additionally declined to unfavorable $57.8 million from $181.8 million a 12 months in the past.
As of March 31, 2025, CleanSpark held $97.0 million in money and $979.6 million in bitcoin. Total present property stood at $947.5 million, with mining property (together with pay as you go deposits and deployed miners) totaling $899.6 million. Total property reached $2.7 billion. The corporate’s liabilities amounted to $766.5 million, with $109.3 million in present liabilities and $641.7 million in long-term debt. Total stockholders’ fairness was $1.9 billion.
CleanSpark reported working capital of $838.2 million as of March 31, 2025, which features a $50 million bitcoin-backed credit score line. This facility gives versatile funding whereas permitting the corporate to protect fairness and strategically leverage its bitcoin holdings.
Zach Bradford, CleanSpark CEO, mentioned their efficiency displays a disciplined and centered method in a quickly evolving bitcoin mining panorama. “As other players shift direction or decelerate growth, CleanSpark has doubled down on being the only remaining pure-play, public bitcoin miner,” Bradford said. “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.”
Bradford emphasised CleanSpark’s continued management in infrastructure and monetary technique, referencing its pioneering ASIC choice construction and non-dilutive financing strategies.
Gary Vecchiarelli, CleanSpark’s CFO, echoed these sentiments, noting that CleanSpark maintained one of the environment friendly price constructions within the business whereas increasing operations with out diluting shareholder fairness. “We continued to invest in strategic and accretive expansion without relying on dilutive capital, as demonstrated by our expanded revolving line with Coinbase,” he mentioned. “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.”
