CleanSpark Reports $378 Million Net Loss in Q2, Including $224 Million Bitcoin Holding Loss

According to The Block, Bitcoin mining company CleanSpark released its Q2 financial report, showing a net loss of $378.3 million, a 173% increase compared to the $138.8 million loss in the same period last year. Among this, Bitcoin holding losses amounted to $224.1 million. At the end of the quarter, the company held Bitcoin valued at $925.2 million. Bitcoin mining revenue was $136.4 million, a 25% year-over-year decline. CleanSpark is accelerating its transition toward AI and high-performance computing (HPC) infrastructure. CEO Matt Schultz stated that the company's goals include commercializing assets suitable for AI/HPC, expanding its portfolio, and continuing efficient mining to drive the transition. Following the financial report release, CleanSpark's stock price fell 5% in after-hours trading.