CleanSpark Inc. reported its second quarter fiscal 2025 results, highlighting a 62.5% increase in quarterly revenue to $181.7 million, up from $111.8 million in the same period of the prior year. The company produced 1,957 bitcoins, with an average revenue per coin of $92,811. Despite the revenue growth, CleanSpark experienced a net loss of $138.8 million for the three months ended March 31, 2025, compared to a net income of $126.7 million in the same prior year period. Adjusted EBITDA decreased to ($57.8 million) from $181.8 million during the same period a year ago. On the balance sheet, the company reported cash assets of $97.0 million as of March 31, 2025. CEO Zach Bradford emphasized the company's focus on maintaining its position as a pure-play, public bitcoin miner and its commitment to reaching its 50 EH/s target by June. The company continues to prioritize long-term stockholder value, bitcoin treasury growth, and balance sheet strength. CFO Gary Vecchiarelli highlighted CleanSpark's strategic expansion efforts without relying on dilutive capital and maintaining efficient cost structures. The Digital Asset Management group is progressing towards optimizing the company's treasury.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.