CleanSpark misses Wall Street revenue estimates as shares sink
Abstract: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.
Disclaimer
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
