CLSK
CleanSpark, Inc.11.86
-0.06-0.46%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Hyperscalers swarm AI sites
Q&A spotlighted surging hyperscaler demand for CleanSpark's AI sites, with Sandersville leading due to its energized 250MW substation while Sealy eyes first 207MW in H1 2027. Management voiced high confidence in imminent leases, accelerated from initial <1-year goal, via tenant-driven basis-of-design to sidestep peers' punitive delay terms. Mining bridges transitions profitably—less than 10% of fleet unprofitable at current BTC prices—with CapEx tilting to AI at $9-11M/MW. ERCOT batching risks brushed off given advanced project status. No hodl shifts despite BTC slump. Hyperscalers chase megawatts hard. Watch lease milestones.
Key Stats
Market Cap
3.17BP/E (TTM)
10.59Basic EPS (TTM)
1.12Dividend Yield
0%Recent Filings
8-K
Annual meeting approves board, auditors
CleanSpark held its annual stockholder meeting on March 3, 2026, with 68.19% quorum. All five director nominees—S. Matthew Schultz, Larry McNeill, Dr. Thomas L. Wood, Roger P. Beynon, and Amanda Cavaleri—won election despite some withheld votes. BDO USA, P.C. ratification as auditors sailed through with 225.96M for votes. Board stays intact.
8-K
Q1 revenue up, but net loss
CleanSpark posted Q1 fiscal 2026 revenue of $181.2 million, up 11.6% from $162.3 million last year, yet swung to a $378.7 million net loss from $246.8 million profit amid $246.8 million bitcoin fair value loss. Balance sheet bulks to $3.3 billion assets with $458.1 million cash and $1.0 billion bitcoin. Secured up to 890 MW power capacity in Houston; expansion self-funded. Bitcoin cash flows fuel AI pivot.
10-Q
Q1 FY2026 results
CleanSpark mined bitcoin revenue up 12% y/y to $181.2M for Q1 FY2026 ended December 31, 2025, despite bitcoin dropping from $114K to $87K, driving a $246.8M fair value loss that flipped operating income to a $316.6M loss and net loss to $378.7M ($1.35 diluted EPS, anti-dilutive shares excluded). Energy costs climbed 36% y/y to $95.6M (52.7% of revenue) on expanded 47.1 EH/s operations, while depreciation jumped 61% to $106.3M; net loss exceeded operating loss due to $103.6M bitcoin collateral hit. Cash swelled to $458.1M after $1.13B from 2032 Notes (0.27% effective), funding $460M stock buyback and Sealy TX asset buy closed Oct 2025 for $65.7M (cash/stock/deferred). Bitcoin-backed lines offer $400M availability. Bitcoin price swings remain a core risk.
10-K
FY2025 results
CleanSpark mined 7,873 bitcoins in FY2025 ended September 30, 2025, down 11.0% y/y from 7,092 despite the April 2024 halving, thanks to hashrate expansion from 27.6 EH/s to 45.6 EH/s (peak 50 EH/s) across 1,027 MW in owned facilities. Revenue doubled to $766M on higher bitcoin prices (avg $97K vs $53K), with energy costs at 43.9% of revenue ($0.057/kWh). Q4 momentum shone through Georgia (620 MW, 27 EH/s), Tennessee expansions, and net income of $364M fueled by $426M bitcoin fair value gains. Debt stands at $835M including $650M 2030 convertibles; bitcoin treasury generated $10M derivatives proceeds. Bitcoin price volatility threatens mined rewards.
8-K
FY25 revenue doubles to $766M
CleanSpark posted FY2025 revenue of $766.3 million, up 102% from prior year, with net income swinging to $364.5 million from a $145.8 million loss. Bitcoin holdings hit $1.2 billion atop $43 million cash, fueling AI pivot via 43% contracted power growth. Recent $1.15 billion 0% convertible bolsters infrastructure push. Risks shadow expansion.
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