The U.S. Bitcoin miner CleanSpark reported its most successful quarter ever, with unprecedented revenue and profitability exceeding analyst forecasts. The company announced on Thursday that its third-quarter revenue spanning April to June reached $198.6 million.
As per the firm’s announcement, the revenue has marked a 90.8% surge from $104 million in the same period last year. This figure outperformed analyst expectations of approximately $195 million. “This was the most successful quarter in CleanSpark’s history, and it reflects the strength of our strategy,” said CEO Zach Bradford.
The firm achieved a quarterly net income of $257.4 million, compared to the $236.2 million reported in the same quarter last year. Its diluted earnings per share was 78 cents.
Chief Financial Officer Gary Vecchiarelli has stated that, “Fiscal Q3 was a pivotal quarter for CleanSpark, as we fully funded operational expenses through monthly Bitcoin production while simultaneously expanding our Bitcoin treasury.”
First Public Miner
CleanSpark claims to be the first public mining company to reach 50 exahashes per second (EH/s) in the U.S. It manages 5.8% of the global hashrate. “We reached 50 EH/s of operational hashrate in June, becoming the first public company to do so exclusively with American infrastructure,” Bradford noted.
The company has bolstered its Bitcoin treasury to over $1 billion in value without raising capital through equity offerings in 2025. CleanSpark currently holds 12,703 BTC, valued at approximately $1.48 billion. These have made it the ninth-largest Bitcoin holder among public companies.
Further, on January 10, CleanSpark reached 10,000 Bitcoins mined in U.S.-based operations. This highlights CleanSpark’s strategic expansion and disciplined capital management, positioning it as a leader in the Bitcoin mining industry.
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