{"id":28290,"date":"2026-05-12T10:23:16","date_gmt":"2026-05-12T10:23:16","guid":{"rendered":"https:\/\/bitunikey.com\/news\/cleanspark-sinks-pre-market-as-q2-loss-more-than-doubles\/"},"modified":"2026-05-12T10:23:36","modified_gmt":"2026-05-12T10:23:36","slug":"cleanspark-sinks-pre-market-as-q2-loss-more-than-doubles","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/cleanspark-sinks-pre-market-as-q2-loss-more-than-doubles\/","title":{"rendered":"CleanSpark sinks pre-market as Q2 loss more than doubles"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p><strong>CleanSpark reported a net loss of $378.3 million for its fiscal second quarter ended March 31, 2026. The loss more than doubled from $138.8 million in the same quarter last year.<\/strong><\/p>\n<div id=\"cn-block-summary-block_b737f1e131a0958ed709950efa73f3a1\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>CleanSpark posted a $378.3 million fiscal Q2 loss as Bitcoin fair value losses weighed heavily.<\/li>\n<li>Revenue fell to $136.4 million, down from $181.7 million in the same quarter last year.<\/li>\n<li>The miner is expanding AI and HPC assets while still growing hashrate and Bitcoin holdings.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Revenue fell 24.9% year over year to $136.4 million, compared with $181.7 million a year earlier. The company also reported a loss of $1.52 per basic share, wider than the $0.49 per-share loss in the prior-year quarter.<\/p>\n<p>CleanSpark <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/cleanspark-reports-second-fiscal-quarter-2026-results-302768585.html\" target=\"_blank\" rel=\"nofollow\">said<\/a> the quarter included a $224.1 million loss tied to the fair value of its Bitcoin holdings. That represented nearly 60% of its total quarterly loss and followed weaker Bitcoin prices during the reporting period.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The company still grew its Bitcoin position. CleanSpark said its BTC holdings rose 14% year over year, while average monthly hashrate increased 18%. It ended the quarter with $925.2 million in Bitcoin and $260.3 million in cash.<\/p>\n<h2 class=\"wp-block-heading\"><strong>CleanSpark shares fall pre-market<\/strong><\/h2>\n<p>CleanSpark shares closed at $14.30 on May 11, up 0.70% for the regular session. The stock then fell to $12.82 in pre-market trading, down 10.35%, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.google.com\/finance\/beta\/quote\/CLSK%3ANASDAQ?utm_source=chatgpt.com\" target=\"_blank\" rel=\"nofollow\">according<\/a> to Google Finance data.<\/p>\n<p>The share move followed weaker revenue and deeper losses. Google Finance listed CleanSpark\u2019s market cap at about $3.66 billion, with a 52-week range between $8.00 and $23.61.<\/p>\n<p>Meanwhile, CleanSpark is also moving deeper into artificial intelligence and high-performance computing infrastructure. The company said it doubled contracted megawatts year over year and secured 585 megawatts of ERCOT-approved capacity in Texas.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOur objectives are clear: commercialize our AI\/HPC-applicable assets, grow the portfolio, and continue mining efficiently to power CleanSpark\u2019s transformation,\u201d said chief executive Matt Schultz.<\/p>\n<\/blockquote>\n<p>The company also continued development work in Sandersville, Georgia.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Mining sector faces similar pressure<\/strong><\/h2>\n<p>CleanSpark\u2019s results came as several public Bitcoin miners reported weaker earnings while shifting toward AI data centers. MARA posted a $1.3 billion Q1 loss after Bitcoin mark-to-market pressure hit its treasury.<\/p>\n<p>TeraWulf also reported that high-performance computing revenue topped Bitcoin mining revenue for the first time in Q1, showing how miners are using AI demand to reduce reliance on mining income.<\/p>\n<p>Core Scientific has followed a similar path. As crypto.news reported, the company posted a $347.2 million Q1 loss, but its colocation revenue rose sharply as it shifted more capacity toward AI infrastructure.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CleanSpark reported a net loss of $378.3 million for its fiscal second quarter ended March 31, 2026. The loss more than doubled from $138.8 million in the same quarter last&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=28290"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28290\/revisions"}],"predecessor-version":[{"id":28291,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28290\/revisions\/28291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11194"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=28290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=28290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=28290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}