CleanSpark (NSADAQ: CLSK) reported $766.3 million in revenue for the 2025 fiscal year, more than double the prior year, as the company expanded its bitcoin mining capacity and secured new financing, according to a company statement released Tuesday.
CleanSpark grew its bitcoin mining operations to 50 EH/s over the year, up from 27.6 EH/s at the end of the fiscal year 2024. The company reported net income of $346.5 million, or $1.25 per share, compared with a net loss of $145.8 million, or $0.69 per share, a year earlier. When accounting for change to fair value of CleanSpark’s 13,033 BTC treasury, the company’s adjusted EBITDA rose to $823.4 million from $245.8 million year-over-year.
Click here to listen to CleanSpark’s fiscal year 2025 earnings call.
CleanSpark increased its contracted power by 43% during the year to 1,027 MWs. It also closed a $1.15 billion zero-percent convertible transaction that it said will fund infrastructure development and land and power acquisitions.
Chairman and Chief Executive Matt Schultz said in the report that the company set new revenue records and executed capital strategies that avoided equity issuance during the year, adding that CleanSpark is building a compute platform designed to support both artificial intelligence and bitcoin workloads.
During the earnings call Q&A, Schultz mentioned that the company is actively evaluating its Sandersville, Georgia site for AI workloads and courting potential tenants.
CleanSpark reported cash of $43 million, $1.2 billion in bitcoin, and $1 billion in working capital as of Sept. 30. CleanSpark’s total mining assets, including prepaid deposits and deployed miners, were valued at $950.1 million.
The company reported current liabilities of $315.8 million and long-term debt of $644.6 million. Total liabilities were listed at $1.0 billion, with stockholders’ equity at $2.2 billion.
