CleanSpark Q1 Financial Performance Overview
Bitcoin mining firm CleanSpark has released its financial results for the first quarter of fiscal year 2026. The company reported revenue of $136.4 million, marking a 24.9% decrease from the $181.7 million recorded in the same period last year, highlighting operational headwinds in the current market cycle.
Profitability and Loss Assessment
For the quarter, CleanSpark posted a net loss of $378.3 million, or a basic loss per share of $1.52. This compares to a net loss of $138.8 million in the prior-year period, indicating a widening deficit. Adjusted EBITDA came in at -$241.2 million, versus -$57.8 million a year ago, pointing to pressures on operational profitability.
Key Balance Sheet Insights
As of March 31, 2026, the company's financial position reveals several notable points:
- Cash Position: Holds $260.3 million in cash and cash equivalents.
- Digital Asset Holdings: The total value of Bitcoin held amounts to $925.2 million. This includes current and non-current holdings, as well as Bitcoin held by counterparties in certain collateral arrangements.
- Asset and Liability Structure: Total current assets stand at $1.1 billion, with total assets reaching $2.9 billion. Total long-term debt (net of discount and issuance costs) is $1.8 billion, while total liabilities are $1.9 billion. Shareholders' equity is reported at $1.0 billion, with working capital also at $1.0 billion.
Despite the quarterly loss, the substantial value of its Bitcoin portfolio and significant working capital provide the company with a strategic cushion amid market volatility.