CleanSpark(NASDAQ) CLSK

CleanSpark builds and runs large data centers to support the bitcoin network. It also provides software and hardware to help businesses manage solar power and battery storage. These solutions help customers secure digital assets and use energy more efficiently.

The Digital Mining Menu

• Bitcoin Mining: Operating high-powered data centers to secure the bitcoin network; accounts for 100% of revenue in the quarter ended March 31, 2026.
• Energy Software: Providing control platforms like mPulse to integrate and optimize multiple energy sources for commercial and residential customers.
• Energy Modeling: Offering mVSO software to help users design microgrids and model energy use.
• Data Center Services: Supplying rack space, power, and equipment for specialized computing needs.

Growing the Footprint

• Purchased real estate and land rights in Brazoria County, Texas, on February 27, 2026, for $28.7 million.
• Acquired land and purchase options in Austin County, Texas, from Priority Power Management, Inc. in October 2025.
• Issued $1.15 billion in 0% convertible senior notes in November 2025 to fund infrastructure expansion and stock repurchases.
• Completed the acquisition of GRIID Infrastructure to expand its data center capacity and operations.
• Expanded operations into Tennessee, Mississippi, and Wyoming through several asset acquisitions.

What Makes it Different?

CleanSpark owns and operates its own data center infrastructure rather than hosting equipment for other companies. It focuses on integrating energy technology with bitcoin mining to manage power costs and operational efficiency.

The Latest Numbers

• Revenue reached $136.4 million in Q2 2026, down 24.9% from the previous year.
• Gross profit was -$86.1 million in Q2 2026, a 189.4% drop that worsened from the prior year.
• Operating income was -$111.8 million in Q2 2026, which narrowed and improved by 19.0% year-over-year.
• Net loss deepened to $378.3 million in Q2 2026, a 172.6% decline from Q2 2025.
• Operating cash flow reached -$135.8 million in Q2 2026, worsening by 21.0% compared to the previous year.

The Big Picture

CleanSpark has shifted its focus from general energy technology to becoming a specialized bitcoin mining and infrastructure operator. Its aggressive land acquisitions and large-scale debt financing reflect a strategy built on expanding its physical data center footprint in the United States.