CleanSpark reports $239M quarterly loss as revenue falls 30.5%, misses estimates

CleanSpark has reported a $239 million quarterly loss as revenue fell 30.5% year over year, while its latest AI data center lease has added a long-term revenue stream outside Bitcoin mining. Summary CleanSpark reported a $239 million quarterly net loss as revenue fell 30.5% year over year. Quarterly revenue came in at $138 million, missing analysts’ estimates compiled by Yahoo Finance. The company signed a 20 year lease expected to generate $6.6 billion from its Georgia AI data center. CleanSpark continued expanding its AI infrastructure while maintaining its Bitcoin mining operations. According to CleanSpark’s fiscal third-quarter results published on Thursday, the Nasdaq-listed Bitcoin mining company generated $138 million in revenue for the three months ended June 30, down 30.5% from $198 million in the same quarter last year. The figure also came in below Wall Street expectations, with Yahoo Finance analyst estimates placing the consensus forecast at $142.2 million. For the quarter, the company posted a net loss of $239 million, or $0.89 per basic share, reversing from net income of $257 million, or $0.90 per share, recorded a year earlier. The earnings release arrived after th...