CleanSpark reports $766M revenue for FY 2025, 43% increase in contracted power

Core Insights - CleanSpark reported a revenue of $766.3 million for the fiscal year 2025, more than double the previous year's revenue, driven by an expansion in bitcoin mining capacity and new financing [1] - The company achieved a net income of $346.5 million, or $1.25 per share, compared to a net loss of $145.8 million, or $0.69 per share, in the prior year [2] - Adjusted EBITDA increased to $823.4 million from $245.8 million year-over-year, influenced by the fair value change of CleanSpark's 13,033 BTC treasury [2] Financial Performance - CleanSpark's bitcoin mining operations grew to 50 EH/s, up from 27.6 EH/s at the end of fiscal year 2024 [2] - The company reported cash of $43 million, $1.2 billion in bitcoin, and $1 billion in working capital as of September 30 [5] - Total liabilities were reported at $1.0 billion, with stockholders' equity at $2.2 billion [5] Operational Developments - The company increased its contracted power by 43% to 1,027 MWs during the year [3] - CleanSpark closed a $1.15 billion zero-percent convertible transaction to fund infrastructure development and land and power acquisitions [3] - The company is building a compute platform to support both artificial intelligence and bitcoin workloads, with ongoing evaluations of its Georgia site for AI workloads [4]