CleanSpark Reports Q2 Losses, Stock Drops 11%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 37 minutes ago
0mins
Should l Buy CLSK?
Source: stocktwits
- Earnings Miss: CleanSpark reported a net loss of $1.52 per share for Q2, significantly exceeding analysts' expectations of $0.42, resulting in an 11% drop in after-hours trading, indicating ongoing challenges in the cryptocurrency market.
- Revenue Decline: The company's revenue of $136.4 million fell short of the $154.3 million estimate and decreased 25% from $181.7 million a year ago, reflecting the adverse impact of Bitcoin price volatility on its operations.
- Bitcoin Holding Losses: CleanSpark recorded over $224.1 million in losses tied to its Bitcoin holdings, leading to a total net loss of $378.3 million, a staggering 173% year-over-year increase, highlighting the company's vulnerability in the current market environment.
- Institutional Investor Interest: The New Jersey Common Pension Fund acquired a $2.02 million stake in CleanSpark, which, despite the company's challenges, may enhance equity liquidity and attract further institutional investor interest in the firm.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy CLSK?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on CLSK
Wall Street analysts forecast CLSK stock price to rise
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 14.200
Low
14.00
Averages
23.50
High
27.00
Current: 14.200
Low
14.00
Averages
23.50
High
27.00
About CLSK
CleanSpark, Inc. is a bitcoin mining company. The Company independently owns and operates data centers across the United States with locations in Georgia, Mississippi, Tennessee and Wyoming for a total contracted power capacity of approximately 853 megawatts (MW). The Company designs its infrastructure to responsibly secure and support the bitcoin network. Its operating mining units are capable of producing over 40 exahashes per second (EH/s) of computing power. The Company operates approximately 188,500 bitcoin mining machines, with a hashrate capacity of approximately 27.6 EH/s and a fleetwide efficiency of 21.94 joules per terahash (J/TH). The Company's subsidiaries include ATL Data Centers LLC, CleanBlok, Inc., CleanSpark DW, LLC, CleanSpark GLP, LLC, CSRE Properties Washington, LLC, CSRE Properties Dalton, LLC, CSRE Property Management Company, LLC, and CSRE Properties Norcross, LLC, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CleanSpark Q2 2026 Earnings Call Insights
- Strategic Transition Progress: CleanSpark continues its evolution into a digital infrastructure and data center development company, with CEO Matthew Schultz highlighting that power and infrastructure are central to the supply squeeze, currently having 1.8 gigawatts of contracted capacity and recently adding 25 megawatts in Metro Atlanta.
- Financial Performance Volatility: The company reported Q2 revenue of $136 million, a decrease of approximately $45 million from the previous quarter, primarily due to a drop in Bitcoin prices, averaging around $76,000, although gross margins remained above 40%, indicating ongoing financial pressure.
- Liquidity and Financing Capacity: CleanSpark maintains strong liquidity with nearly $1.2 billion available, including $260 million in cash and 13,561 Bitcoins valued at approximately $925 million, plus a $400 million credit line backed by Bitcoin, ensuring funding for future growth.
- Leasing and Commercialization Progress: While management did not provide formal revenue or EPS guidance, they emphasized the importance of commercialization and delivery cadence, with expected delivery timelines of 14 to 18 months post-lease signing, actively negotiating with key prospective tenants, reflecting confidence in future growth.
See More
CleanSpark Reports Q2 Losses, Stock Drops 11%
- Earnings Miss: CleanSpark reported a net loss of $1.52 per share for Q2, significantly exceeding analysts' expectations of $0.42, resulting in an 11% drop in after-hours trading, indicating ongoing challenges in the cryptocurrency market.
- Revenue Decline: The company's revenue of $136.4 million fell short of the $154.3 million estimate and decreased 25% from $181.7 million a year ago, reflecting the adverse impact of Bitcoin price volatility on its operations.
- Bitcoin Holding Losses: CleanSpark recorded over $224.1 million in losses tied to its Bitcoin holdings, leading to a total net loss of $378.3 million, a staggering 173% year-over-year increase, highlighting the company's vulnerability in the current market environment.
- Institutional Investor Interest: The New Jersey Common Pension Fund acquired a $2.02 million stake in CleanSpark, which, despite the company's challenges, may enhance equity liquidity and attract further institutional investor interest in the firm.
See More
Hims & Hers Health Adjusts EBITDA Guidance, Shares Drop
- Hims & Hers Guidance Cut: Hims & Hers Health has guided for adjusted EBITDA between $35 million and $55 million for the current quarter, significantly below analysts' expectations of $70 million, resulting in a more than 6% drop in shares, indicating market concerns over its profitability.
- Aecom Earnings Guidance Raised: Aecom raised its full-year adjusted earnings guidance to between $5.90 and $6.10 per share, exceeding previous estimates of $5.85 to $6.05, leading to a 2% increase in stock price, reflecting strong performance in the infrastructure consulting sector.
- Webtoon Revenue Miss: Webtoon Entertainment projected second-quarter revenue between $332 million and $342 million, falling short of the $348 million expected by analysts, causing a 15% drop in shares, which reflects market disappointment regarding its growth outlook.
- Gitlab Restructuring Plan Announced: Gitlab CEO Bill Staples outlined a broad restructuring plan involving workforce reductions and management cuts, resulting in an 8% decline in shares during after-hours trading, signaling market apprehension about the company's strategic shift towards agentic AI.
See More
CleanSpark Reports Strong Q2 Results with Significant Growth in Bitcoin Holdings
- Contract Capacity Doubled: CleanSpark secured 585 MW of ERCOT-approved capacity, marking a 100% year-over-year increase, which not only enhances the company's power supply capabilities but also lays the groundwork for future expansions.
- Increased Bitcoin Holdings: The company's Bitcoin holdings rose by 14% year-over-year to $925.2 million, while the average monthly hashrate increased by 18%, indicating CleanSpark's sustained competitiveness in the Bitcoin mining sector.
- Strong Financial Position: As of March 31, 2026, CleanSpark reported working capital of $1.0 billion, with robust liquidity supporting the company's expansion plans and providing flexibility for future investment opportunities.
- Strategic Development Focus: CEO Matt Schultz emphasized the company's commitment to commercializing AI and HPC-related assets, aiming to enhance long-term shareholder value through efficient mining and infrastructure optimization.
See More
CleanSpark Q2 Earnings Preview and Market Performance
- Earnings Announcement Date: CleanSpark (CLSK) is set to release its Q2 earnings on May 11th after market close, with consensus EPS estimate at -$0.23 and revenue forecast at $139.9 million, reflecting a 23% year-over-year decline.
- Performance Expectations: Over the past year, CleanSpark has surpassed EPS estimates 75% of the time but only 50% for revenue, indicating volatility in its profitability metrics and potential investor concerns.
- Revision Trends: In the last three months, there have been no upward revisions for EPS estimates and one downward revision, while revenue estimates faced ten downward adjustments, suggesting diminishing market confidence in the company's future performance.
- Market Short Interest: CleanSpark continues to have the highest short interest among crypto firms with a market cap over $2 billion, contrasting with Block, which saw the lowest short interest in March, highlighting divergent market perceptions of these companies.
See More
TeraWulf Shares Surge 50.6% in April Amid Bitcoin Mining Gains
- Significant Stock Surge: TeraWulf's shares rose 50.6% in April 2026, with a 45.2% gain in the first two weeks, reflecting strong market confidence in its business model, particularly amid modest Bitcoin price increases.
- Funding for Expansion: The company raised $1 billion through a stock sale aimed at expanding data center construction, which not only enhances its competitiveness in high-performance computing but also attracted participation from major banks like Morgan Stanley, Citigroup, and Bank of America, indicating a notable improvement in its financing capabilities.
- Cautious Earnings Outlook: Despite the strong stock performance, analysts expect a 20% revenue drop in Q1 due to weak Bitcoin prices, which could impact investor confidence and lead to stock volatility.
- Uncertain Future Prospects: TeraWulf must demonstrate revenue growth potential from its AI data centers in the upcoming earnings report, as Bitcoin mining still accounts for over 90% of its revenue, and disappointing results could quickly reverse April's gains.
See More
CleanSpark Q2 2026 Earnings Call Insights
- Strategic Transition Progress: CleanSpark continues its evolution into a digital infrastructure and data center development company, with CEO Matthew Schultz highlighting that power and infrastructure are central to the supply squeeze, currently having 1.8 gigawatts of contracted capacity and recently adding 25 megawatts in Metro Atlanta.
- Financial Performance Volatility: The company reported Q2 revenue of $136 million, a decrease of approximately $45 million from the previous quarter, primarily due to a drop in Bitcoin prices, averaging around $76,000, although gross margins remained above 40%, indicating ongoing financial pressure.
- Liquidity and Financing Capacity: CleanSpark maintains strong liquidity with nearly $1.2 billion available, including $260 million in cash and 13,561 Bitcoins valued at approximately $925 million, plus a $400 million credit line backed by Bitcoin, ensuring funding for future growth.
- Leasing and Commercialization Progress: While management did not provide formal revenue or EPS guidance, they emphasized the importance of commercialization and delivery cadence, with expected delivery timelines of 14 to 18 months post-lease signing, actively negotiating with key prospective tenants, reflecting confidence in future growth.
See More
CleanSpark Reports Q2 Losses, Stock Drops 11%
- Earnings Miss: CleanSpark reported a net loss of $1.52 per share for Q2, significantly exceeding analysts' expectations of $0.42, resulting in an 11% drop in after-hours trading, indicating ongoing challenges in the cryptocurrency market.
- Revenue Decline: The company's revenue of $136.4 million fell short of the $154.3 million estimate and decreased 25% from $181.7 million a year ago, reflecting the adverse impact of Bitcoin price volatility on its operations.
- Bitcoin Holding Losses: CleanSpark recorded over $224.1 million in losses tied to its Bitcoin holdings, leading to a total net loss of $378.3 million, a staggering 173% year-over-year increase, highlighting the company's vulnerability in the current market environment.
- Institutional Investor Interest: The New Jersey Common Pension Fund acquired a $2.02 million stake in CleanSpark, which, despite the company's challenges, may enhance equity liquidity and attract further institutional investor interest in the firm.
See More
Hims & Hers Health Adjusts EBITDA Guidance, Shares Drop
- Hims & Hers Guidance Cut: Hims & Hers Health has guided for adjusted EBITDA between $35 million and $55 million for the current quarter, significantly below analysts' expectations of $70 million, resulting in a more than 6% drop in shares, indicating market concerns over its profitability.
- Aecom Earnings Guidance Raised: Aecom raised its full-year adjusted earnings guidance to between $5.90 and $6.10 per share, exceeding previous estimates of $5.85 to $6.05, leading to a 2% increase in stock price, reflecting strong performance in the infrastructure consulting sector.
- Webtoon Revenue Miss: Webtoon Entertainment projected second-quarter revenue between $332 million and $342 million, falling short of the $348 million expected by analysts, causing a 15% drop in shares, which reflects market disappointment regarding its growth outlook.
- Gitlab Restructuring Plan Announced: Gitlab CEO Bill Staples outlined a broad restructuring plan involving workforce reductions and management cuts, resulting in an 8% decline in shares during after-hours trading, signaling market apprehension about the company's strategic shift towards agentic AI.
See More
CleanSpark Reports Strong Q2 Results with Significant Growth in Bitcoin Holdings
- Contract Capacity Doubled: CleanSpark secured 585 MW of ERCOT-approved capacity, marking a 100% year-over-year increase, which not only enhances the company's power supply capabilities but also lays the groundwork for future expansions.
- Increased Bitcoin Holdings: The company's Bitcoin holdings rose by 14% year-over-year to $925.2 million, while the average monthly hashrate increased by 18%, indicating CleanSpark's sustained competitiveness in the Bitcoin mining sector.
- Strong Financial Position: As of March 31, 2026, CleanSpark reported working capital of $1.0 billion, with robust liquidity supporting the company's expansion plans and providing flexibility for future investment opportunities.
- Strategic Development Focus: CEO Matt Schultz emphasized the company's commitment to commercializing AI and HPC-related assets, aiming to enhance long-term shareholder value through efficient mining and infrastructure optimization.
See More
CleanSpark Q2 Earnings Preview and Market Performance
- Earnings Announcement Date: CleanSpark (CLSK) is set to release its Q2 earnings on May 11th after market close, with consensus EPS estimate at -$0.23 and revenue forecast at $139.9 million, reflecting a 23% year-over-year decline.
- Performance Expectations: Over the past year, CleanSpark has surpassed EPS estimates 75% of the time but only 50% for revenue, indicating volatility in its profitability metrics and potential investor concerns.
- Revision Trends: In the last three months, there have been no upward revisions for EPS estimates and one downward revision, while revenue estimates faced ten downward adjustments, suggesting diminishing market confidence in the company's future performance.
- Market Short Interest: CleanSpark continues to have the highest short interest among crypto firms with a market cap over $2 billion, contrasting with Block, which saw the lowest short interest in March, highlighting divergent market perceptions of these companies.
See More
TeraWulf Shares Surge 50.6% in April Amid Bitcoin Mining Gains
- Significant Stock Surge: TeraWulf's shares rose 50.6% in April 2026, with a 45.2% gain in the first two weeks, reflecting strong market confidence in its business model, particularly amid modest Bitcoin price increases.
- Funding for Expansion: The company raised $1 billion through a stock sale aimed at expanding data center construction, which not only enhances its competitiveness in high-performance computing but also attracted participation from major banks like Morgan Stanley, Citigroup, and Bank of America, indicating a notable improvement in its financing capabilities.
- Cautious Earnings Outlook: Despite the strong stock performance, analysts expect a 20% revenue drop in Q1 due to weak Bitcoin prices, which could impact investor confidence and lead to stock volatility.
- Uncertain Future Prospects: TeraWulf must demonstrate revenue growth potential from its AI data centers in the upcoming earnings report, as Bitcoin mining still accounts for over 90% of its revenue, and disappointing results could quickly reverse April's gains.
See More
