CleanSpark misses Wall Street revenue estimates as shares sink
Extracto:CleanSpark, a Nasdaq-listed Bitcoin mining company, reported $138 million in revenue for the third quarter of fiscal 2026, a 30.5% year-over-year decline from $198 million. The company posted a net loss of $239 million, or $0.89 per basic share, for the quarter ended June 30, compared with net income of $257 million, or $0.90 per share, a year earlier. Revenue narrowly missed the $142.2 million consensus estimate compiled by Yahoo Finance. Shares fell 5.5% on Thursday but recovered 3% in pre-market trading on Friday to above $13.10. Beyond mining Bitcoin, CleanSpark has expanded into AI and high-performance computing; on July 14, it signed a 20-year data center lease with an undisclosed global technology company for a 175-megawatt facility in Sandersville, Georgia, expected to generate $6.6 billion in contracted revenue.
Nasdaq-listed Bitcoin mining company CleanSpark reported $138 million in revenue for the third quarter of fiscal 2026.
The $138 million represented a 30.5% year-over-year decrease from $198 million, according to its quarterly results published on Thursday.
CleanSpark also reported a net loss of $239 million, or $0.89 per basic share, for the three months ended on June 30, compared with $257 million in net income, or $0.90 per share, for the same period last year.
The revenue narrowly missed analysts consensus estimate of $142.2 million, according to analyst estimates compiled by Yahoo Finance.
CleanSparks shares fell 5.5% on Thursday, but staged a 3% pre-market recovery on Friday to trade above $13.10, Yahoo Finance data showed.
CleanSpark is among the companies that have expanded beyond their core Bitcoin (BTC) mining operations into AI and high-performance computing infrastructure.
On July 14, CleanSpark signed a 20-year data center lease with an undisclosed investment-grade global technology company for a 175-megawatt data center at its Sandersville, Georgia, campus. The company estimated the deal would generate $6.6 billion in contracted revenue over the initial term.
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