CleanSpark reports 181.7m $181.7m in second quarter revenue and stays on the course to achieve its 50 EH/s Bitcoin mining goal

American Bitcoin Mining Company’s CleanSpark released its financial results for the second quarter of fiscal year 2025, reporting revenue of $181.7 million for the three months ended March 31st.

Despite revenue growth, the company reported a net loss of $138.8 million, or $0.49 per base share, compared to $126.7 million ($0.59 per base share) in the previous year. Adjusted EBITDA fell to a negative of $57.8 million from $181.8 million the previous year.

As of March 31, 2025, Cleanspark had $970 million in cash and $979.6 million in Bitcoin. Total current assets were $947.5 million, with mining assets (including prepaid deposits and deployed miners) totaling $899.6 million. Total assets reached $2.7 billion. The company’s liabilities were $766.5 million, with current liabilities of $109.3 million and long-term debt of $641.7 million. Total shareholders’ equity was $1.9 billion.

CleanSpark has reported $838.2 million working capital as of March 31, 2025. This includes a $50 million Bitcoin collateral credit line. The facility will provide flexible funding while enabling the company to store equity and strategically utilize Bitcoin Holding.

Zach Bradford, CEO of Cleanspark, said their performance reflects a disciplined, intensive approach to the rapidly evolving Bitcoin mining landscape. “As other players changed direction and reduced growth, CleanSpark doubled with being the only pure play – the Public Bitcoin Miner,” Bradford said. “We believe focus is more important than ever and will continue to move forward smoothly to reach our 50 EH/s target in June.

Bradford highlighted CleanSpark’s continued leadership in infrastructure and financial strategy, referring to the pioneering ASIC option structure and non-diluted funding methods.

Cleanspark’s CFO Gary Vecchiarelli reflects these sentiments and notes that CleanSpark maintains one of the industry’s most efficient cost structures while expanding operations without diluting shareholder capital. “We continued to invest in strategic and additive expansion without relying on diluting capital, as demonstrated by our expanded line of rotation with Coinbase,” he said. “Our Digital Asset Management Group is preparing to make meaningful progress in the quarter and optimize the Treasury, placing Bitcoin as both a productive asset and a source of balance sheet strength.”

This post CleanSpark reported $181.7 million in second quarter revenue, stayed on the course, hit 50 EH/S Bitcoin mining targets, first appeared in Bitcoin magazine, written by Oscar Zara Gaperez.