CleanSpark posted a $378.3M quarterly loss as falling Bitcoin prices weighed heavily on mining results.
Bitcoin miner CleanSpark (CLSK) reported a net loss of $378.3 million for its fiscal second quarter ending March 31, 2026, more than doubling the $138.8 million loss recorded in the same period a year earlier. Shares fell 9.51% in overnight trading to $12.94 following the disclosure, after closing up 0.70% at $14.30 on Monday.
The quarter's losses were heavily concentrated in BTC price exposure. A $224.1 million loss tied to the fair value of the company's Bitcoin holdings accounted for nearly 60% of the total quarterly figure. CleanSpark held $925.2 million worth of BTC at quarter-end.
Revenue for the quarter came in at $136.4 million, down from $181.7 million in the same period a year earlier. The net loss per basic share widened to $1.52, compared to $0.49 a year ago.
Despite the headline loss, CleanSpark grew its Bitcoin holdings by 14% during the quarter and increased its average monthly hash rate by 18% year-over-year. The company did not report a reduction in mining operations.
CleanSpark is advancing a parallel push into artificial intelligence and high-performance computing infrastructure. The company doubled its contracted megawatts year-over-year, secured 585 megawatts of ERCOT-approved capacity in Texas, and continued site development in Sandersville, Georgia.
"Our objectives are clear: commercialize our AI/HPC-applicable assets, grow the portfolio, and continue mining efficiently to power CleanSpark's transformation," said CEO and chairman Matt Schultz in the release. The company ended the quarter with $260.3 million in cash and $2.9 billion in total assets.
Long-term debt nearly tripled over the six months before quarter-end, rising from $644.6 million to $1.8 billion. The increase reflects the capital deployed toward infrastructure expansion as the company diversifies beyond BitcoinMining into AI and high-performance computing.
CleanSpark's results arrive alongside similar quarterly losses across the mining sector. MARA Holdings posted a $1.3 billion net loss for Q1 2026, with revenue falling 18% year-over-year to $174.6 million. TeraWulf recorded a $427 million net loss in the same period, though its HPC revenue reached $21 million, representing approximately 60% of its total quarterly revenue.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
