CleanSpark reported a net loss of $378 million in Q2, with mining revenue down 25% year-on-year

According to The Block, Bitcoin mining company CleanSpark announced its second quarter financial report, with a net loss of $378.3 million, an increase of 173% year-on-year, including a loss of $224.1 million in Bitcoin holdings. At the end of the quarter, the company held $925.2 million worth of Bitcoin, with mining revenue of $136.4 million, a year-on-year decrease of 25%. CleanSpark is accelerating its transformation towards AI and high-performance computing infrastructure. CEO Matt Schultz stated that the company's goals include commercializing AI/HPC assets, expanding its investment portfolio, and continuing efficient mining. After the release of the financial report, CleanSpark's stock price fell 5% in after hours trading.