Cleanspark Reports Significant Loss Amid Bitcoin Price Swings

Cleanspark, a prominent player in the bitcoin mining industry, has released its financial results for the second fiscal quarter ended March 31, 2026. The company reported a net loss of $378.3 million, primarily driven by a non-cash loss on bitcoin fair value of $224.1 million.

Despite this significant loss, Cleanspark's CEO Matt Schultz highlighted several areas of progress, including the expansion of its hashrate and power capacity. The company's average monthly hashrate increased 18% year-over-year, while megawatts under contract doubled over the same period.

Cleanspark also secured ERCOT approval for 585 MW of power in Texas, with plans to continue leasing progress in Georgia and beyond. The company's balance sheet remains strong, with $260.3 million in cash and $925.2 million in bitcoin as of March 31, 2026.