CleanSpark Q1 Loss Wider Than Expected, Revenues Increase Y/Y

CleanSpark CLSK reported a first-quarter fiscal 2026 loss of 10 cents per share, wider than the Zacks Consensus Estimate of an 8-cent loss.

The company reported a loss from continuing operations of $1.35 per share. This compares unfavorably with earnings of 83 cents per share reported in the year-ago quarter.

CleanSpark’s revenues increased 11.6% year over year to $181.2 million but missed the consensus estimate by 2.12%.

CleanSpark is strategically transitioning from a pure-play bitcoin miner into a broader energy, compute and infrastructure platform, positioning itself to capture emerging opportunities in high-performance computing (HPC) and AI data centers.

Cleanspark, Inc. Price, Consensus and EPS Surprise

Cleanspark, Inc. price-consensus-eps-surprise-chart | Cleanspark, Inc. Quote

For 2026, management is prioritizing expansion of its power and land portfolio, monetization of available megawatt capacity and accelerated development of AI-focused data center infrastructure. The company’s multi-year roadmap outlines a phased execution plan — targeting construction milestones and tenant visibility in 2026, scaling operations and diversifying tenants in 2027, and building multi-campus, giga-scale project capabilities by 2028 — underscoring a disciplined approach to long-term platform growth.

CleanSpark’s Q1 Operating Details

CleanSpark’s first-quarter fiscal 2026 gross profit decreased 7% year over year to $85.6 million. The gross margin contracted 940 basis points to 47.2%.

First-quarter fiscal 2026 results reflected a sharp deterioration in profitability. The company reported an operating loss of $316.6 million compared with an operating income of $210 million in the year-ago quarter.

CLSK reported an Adjusted EBITDA loss of $295.4 million compared with positive Adjusted EBITDA of $321.6 million in the year-ago period.

The company reported a net loss of $378.7 million, primarily reflecting fair value adjustments tied to bitcoin.

CleanSpark’s Balance Sheet Details

As of Dec. 31, 2025, CleanSpark had cash and cash equivalents of $458 million compared with $43 million as of Sept. 30, 2025.

As of Dec. 31, 2025, CLSK’s total long-term debt, net of debt discount & issuance costs, was $1.79 billion.

The company ended the quarter holding 13,099 Bitcoin, representing an approximate market value of $1.15 billion, alongside $400 million of available liquidity under its line of credit. During the quarter, bitcoin sales averaged $97,225 per BTC, while premium structures lifted the effective realized price to $104,878.

CLSK’s Zacks Rank & Stocks to Consider

Currently, CleanSpark carries a Zacks Rank #3 (Hold).

Credicorp BAP, Equinix EQIX and Getty Realty GTY are some better-ranked stocks in the broader Zacks Finance sector. Each of the three stocks currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Credicorp shares have surged 87.4% over the past year. BAP is set to report its fourth-quarter 2025 results on Feb. 12, 2026.

Equinix shares have declined 13.5% over the past year. EQIX is set to report its fourth-quarter 2025 results on Feb. 11, 2026.

Getty Realty shares have returned 0.3% over the past year. GTY is set to report its fourth-quarter 2025 results on Feb. 12, 2026.

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This article originally published on Zacks Investment Research (zacks.com).

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