CleanSpark(NASDAQ) CLSK

CleanSpark, Inc. runs powerful computers to secure the bitcoin network. It builds large data centers to provide electricity for high-speed processing. The company also rents space to other advanced technology firms.

What CleanSpark Builds

• Bitcoin Mining: Uses specialized servers to process blockchain transactions and earn rewards; accounted for 100% of revenue in the three months ended June 30, 2026.
• Infrastructure Operations: Manages data centers in Georgia, Tennessee, Mississippi, and Wyoming with a total power capacity of 1,817 megawatts.
• AI and HPC Hosting: Develops sites to provide computing power for artificial intelligence and high-performance computing companies.
• Energy Solutions: Provides hardware and software to manage microgrids and decentralized energy systems for military, commercial, and residential clients.

The Road to Expansion

• Acquired properties in Texas in Oct. 2025 and Feb. 2026 to support the development of a next-generation data center campus.
• Purchased infrastructure sites in South Dakota in Dec. 2025 and Tennessee in Feb. 2026 to increase future operational capacity.
• Launched an in-house trading function in April 2025 to manage bitcoin treasury activities and market volatility.
• Signed a 20-year infrastructure lease in July 2026 with a global technology company for 175 megawatts of capacity in Georgia.

What Makes CleanSpark Different

CleanSpark manages its own energy assets to optimize power costs and reliability for its data center fleet. The company uses a treasury strategy with bitcoin-linked derivatives to generate income from its digital asset holdings.

Measuring the Results

• Bitcoin mining revenue was $138 million for the three months ended June 30, 2026, down 31% year over year.
• Net loss reached $239.8 million for the three months ended June 30, 2026, compared to net income of $257.4 million in the prior-year period.
• The company held 12,205 bitcoins with a fair value of $714.3 million as of June 30, 2026.
• Non-GAAP adjusted EBITDA was a loss of $113 million for the three months ended June 30, 2026, down from a $377.7 million gain year over year.
• Working capital totaled $765.1 million as of June 30, 2026.

Shifting Toward Diversification

CleanSpark is evolving from a bitcoin mining firm into a broader digital infrastructure provider. The company is repurposing its power capacity to support both cryptocurrency and artificial intelligence workloads.