CleanSpark loss jumps 173% amid Bitcoin decline

CleanSpark reported a sharp increase in quarterly losses as declining Bitcoin prices weighed on the value of its digital asset holdings. At the same time, the company reaffirmed its long-term strategy of expanding artificial intelligence and high-performance computing infrastructure.

CleanSpark reports sharply higher losses

CleanSpark posted a net loss of $378.3 million for the second quarter of fiscal 2026, which ended on March 31. During the same period last year, the company reported a loss of $138.8 million. The latest figure represents a 173% year-over-year increase.

According to the earnings report, approximately $224.1 million of the losses were tied to Bitcoin holdings. At the end of the quarter, CleanSpark held roughly $925.2 million worth of BTC on its balance sheet.

Bitcoin mining revenue also declined significantly. The company generated $136.4 million from mining operations, down 25% from $181.7 million a year earlier.

Following the earnings release, CleanSpark shares fell approximately 5% in after-hours trading.

Management emphasized that the company continues evolving into a broader digital infrastructure operator focused on artificial intelligence and enterprise computing services.

Bitcoin decline pressures company reserves

Several factors contributed to the weaker financial performance.

Bitcoin prices declined roughly 6% during the year, reducing the value of the company’s reserves. In addition, mining operators continue facing rising network difficulty and increasing competition.

Against that backdrop, CleanSpark accelerated investment in infrastructure development.

CEO Matt Schultz stated that the company’s priorities include:

• expanding power infrastructure
• developing new data center sites
• commercializing AI computing capacity
• maintaining efficient Bitcoin mining operations

The company also highlighted progress in Texas and Georgia. ERCOT approved an additional 300MW of power capacity in Brazoria County, supporting future infrastructure expansion.

CleanSpark continues constructing new facilities while positioning artificial intelligence as a major long-term growth segment.

Computing infrastructure market continues expanding

CleanSpark’s results reinforce the broader transformation underway across the Bitcoin mining industry.

Mining companies increasingly use existing energy and data center assets not only for cryptocurrency mining, but also for artificial intelligence and high-performance computing workloads.

Similar strategies are already being pursued by TeraWulf, MARA Holdings and Riot Platforms.

Analysts believe artificial intelligence infrastructure may help miners offset pressure from Bitcoin volatility and rising operational costs.

Mining becomes part of digital infrastructure

The CleanSpark report highlights how mining is gradually becoming only one component of a larger digital infrastructure business.

Power access, data center capacity and computing infrastructure are increasingly viewed as the industry’s most valuable assets.

At the same time, most operators are not abandoning Bitcoin mining completely. Mining continues providing core cash flow used to fund expansion into new computing markets.

Over the coming years, competition among large mining firms may increasingly shift toward artificial intelligence and high-performance computing infrastructure rather than pure Bitcoin production alone.

Read also: CleanSpark sold more Bitcoin than it mined