Cleanspark reported a $378.3 million net loss for its second fiscal quarter ended March 31, 2026, as a $224.1 million non-cash loss on bitcoin fair value weighed heavily on results even as the company expanded its hashrate and power capacity. Cleanspark Posts $378M Loss in Q2 as Bitcoin Fair Value Swing Hits Results Cleanspark’s (Nasdaq: […]
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CleanSpark joins MARA Holdings, Riot Platforms and Hut 8 Mining Corp as a major listed Bitcoin mining firm with 10,000 Bitcoin or more on its balance sheet.
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In 2024, the combined market capitalization of public Bitcoin mining companies reached $50 billion for the first time.
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The Nasdaq-listed Bitcoin mining company is one of the world’s largest corporate BTC holders.
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CleanSpark joins the crowd in raising funds through convertible notes, but doesn’t plan to invest the proceeds.
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The increases partly reflect a “HODL premium” akin to MicroStrategy’s, the analysts said.
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It comes as US Bitcoin miners have had to deal with delayed deliveries of Bitmain ASICs that have been stuck at US ports of entry for weeks.
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CleanSpark CEO Zach Bradford said it was a strategic move for the firm to increase its mining capacity in Tennessee.
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Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.
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Crypto exchange Coinbase and Bitcoin miners CleanSpark and IREN closed Oct. 14 with double-digit percentage gains and continued to climb after the bell.
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