CleanSpark Inc. announced results for its fiscal year second quarter 2025, quarter ended March 31, 2025. The company's report highlights a mixture of strategic investments and financial results, reflecting its focus on expanding its position in the Bitcoin mining industry. CleanSpark puts a focus on disciplined, accretive growth within the Bitcoin mining industry.

The company's total assets reached $2.7 billion. The company’s total stockholders’ equity as of March 31 was $1.9 billion. Total current assets were $947.5 million and mining assets, including purchased prepaid deposits and deployed miners, were $899.6 million.

CleanSpark’s balance sheet had them owing $766.5 million and the company is running $109.3 million in current liabilities. The company’s long-term debt reached $641.7 million. During the quarter CleanSpark continued to uphold one of the industry’s most efficient power cost structures.

For the full year, CleanSpark had a net loss of $138.8 million, or $0.49 per basic share. The company’s Adjusted EBITDA fell to -$57.8 million from $181.8 million in the same period last year.

"As other players shift direction or decelerate growth, CleanSpark has doubled down on being the only remaining pure-play, public bitcoin miner," - Zach Bradford, CleanSpark CEO

CleanSpark’s CWC in contract backlogs was $838.2 million as of March 31, 2025. This includes a $50 million bitcoin-backed credit line from digital asset bank, Primus. The company had $97.0 million in cash and $979.6 million in bitcoin, as of March 31, 2025.

"We continued to invest in strategic and accretive expansion without relying on dilutive capital, as demonstrated by our expanded revolving line with Coinbase," - Gary Vecchiarelli, CleanSpark’s CFO

CleanSpark expanded operations without diluting shareholder equity. The bitcoin mining firm is still clearly committed to growing its capacity and being a leading player in the increasingly competitive bitcoin mining industry.