Cleanspark, American Bitcoin Mining Company, announced its financial results for the second quarter of the 2025 financial year and reported $ 181.7 million in revenue in the three months ending March 31. This marks a 62.5% increase from $ 111.8 million in the same quarter last year.
Despite the revenue growth, the company reported a net loss of $ 138.8 million or $ 0.49 per year. Basic share compared to a net income of $ 126.7 million or $ 0.59 per Basic share of the previous period. Adjusted EBITDA also fell to negative $ 57.8 million from $ 181.8 million a year ago.
Per. March 31, 2025, Cleanspark had $ 97.0 million in cash and $ 979.6 million in Bitcoin. The total current assets amounted to $ 947.5 million with mining (including prepaid deposits and implemented miners) totaling $ 899.6 million. The total assets reached $ 2.7 billion. The company’s obligations amounted to $ 766.5 million with $ 109.3 million in current obligations and $ 641.7 million in long -term debt. Total equity was $ 1.9 billion.
Cleanspark reported working capital of $ 838.2 million per year. 31 March 2025, which includes a Bitcoin-supported credit line of $ 50 million. This facility provides flexible funding, while the company allows the company to maintain equity and strategically utilize its Bitcoin stocks.
Zach Bradford, CLEANSPARK CEO, said their performance reflects a disciplined and focused approach in a rapidly evolving Bitcoin mining. “As other players change direction or decelerate growth, Cleanspark has doubled by being the only remaining pure play, public Bitcoin mines,” Bradford said. “We believe that focus means something more than ever, and we remain on the field to achieve our 50 EH/S goals during June, all as we grow our Bitcoin Treasury, strengthen the balance and prioritize long-term shareholder value.”
Bradford emphasized Cleanspark’s continued leadership in infrastructure and economic strategy, referring to its groundbreaking ASIC option structure and non-divorcing financing methods.
Gary Vecchiarelli, Cleanspark’s CFO, repeated these feelings and noted that Cleanspark maintained one of the most efficient cost structures in the industry while expanding operations without diluting the shareholder’s equity. “We continued to invest in strategic and accretive expansion without relying on diluting capital, as demonstrated by our extended rotating line with coinbase,” he said. “Our digital asset management group made meaningful progress during the quarter and prepares to optimize our treasury, place Bitcoin as both a productive asset and a source of strength on our balance.”