CleanSpark Reports Second Quarter Fiscal 2025 Results

Core Insights - CleanSpark, Inc. reported a quarterly revenue of $181.7 million, reflecting a 62.5$92,811 [1] - The net loss for the quarter was $138.8 million, translating to a loss of$0.49 per basic share, compared to a net income of $126.7 million or$0.59 per share in the same period last year [4][15] Financial Performance - Quarterly revenues reached $181.7 million, up from$111.8 million in the same quarter last year, marking an increase of $69.9 million [4][15] - Adjusted EBITDA decreased to ($57.8 million) from $181.8 million in the same period a year ago [4][17] - The company had total assets of$2.7 billion and total liabilities of $766.5 million as of March 31, 2025 [4][14] Strategic Focus - CEO Zach Bradford emphasized the company's commitment to being a pure-play public bitcoin miner, aiming for a target of 50 EH/s by June 2025 [2] - The company has maintained a disciplined approach to cost control while expanding its operations without relying on dilutive capital [2][3] - CleanSpark's Digital Asset Management group is focused on optimizing the company's bitcoin treasury, positioning it as a productive asset [2] Balance Sheet Highlights - As of March 31, 2025, CleanSpark had working capital of$838.2 million, including a capacity of $50 million on a bitcoin collateralized line of credit [3] - Total current assets amounted to$947.5 million, with cash holdings of $97.0 million and bitcoin valued at$979.6 million [4][14] - Total stockholders' equity was reported at $1.9 billion, reflecting a strong financial position despite the net loss [4][14]