CleanSpark
Operates U.S. bitcoin mines and develops leased data centers for advanced computing.
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Profile
Operates U.S. data centers that earn bitcoin by supplying computing power to a mining pool, while retaining or monetizing part of production through treasury strategies. A signed infrastructure lease extends its power-and-land platform into AI and high-performance computing, but current reported revenue still comes from bitcoin mining.
Develops and operates power-intensive data centers across the United States. Bitcoin mining remains the sole reportable segment and current revenue source: company-operated ASIC fleets supply hash calculations to a third-party pool, earning bitcoin rewards and transaction fees. Some production is sold; the rest may be retained, pledged, or used in treasury derivatives.
Extends its land, power-procurement, and facility-development platform into AI and high-performance computing. A long-term infrastructure lease at the Sandersville, Georgia, campus is the first contracted project, while Texas sites are under exclusivity with the same tenant; both remain in development. Mining depends on bitcoin prices, network difficulty, and electricity economics. The leased-data-center pipeline depends on construction, financing, utility capacity, and a single confidential tenant.
Company facts
Categories
Key statistics
Year to date +1.0% · Average volume (30d) 21.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 15, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $14 | $26 |
| Jun 24, 2026 | Citigroup | Initiate | Outperform | ||
| May 4, 2026 | Needham | Reiterate | Buy | $19 | $18 |
| Apr 9, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $17 | $14 |
| Feb 6, 2026 | Macquarie | Reiterate | Outperform | $27 | $18 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q3 FY26 | −$0.47 | −$0.89 | −88.4% | $142.4M | $138.0M | −3.1% | −3.53% |
| May 11, 2026Q2 FY26 | −$0.25 | −$0.52 | −108.0% | $145.4M | $136.4M | −6.2% | −5.80% |
| Feb 5, 2026Q1 FY26 | −$0.08 | −$0.10 | −25.0% | $192.1M | $181.2M | −5.7% | +21.89% |
| Nov 25, 2025Q4 FY25 | $0.26 | −$0.01 | −103.8% | $232.9M | $223.7M | −4.0% | +13.79% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $181.7M | $198.6M | $223.7M | $181.2M | $136.4M | $138.0M | |
| Gross profit | $96.3M | $92.1M | $74.5M | $61.8M | −$86.1M | −$86.3M | |
| Operating income | −$138.0M | $246.2M | $834.0K | −$316.6M | −$111.8M | −$111.7M | |
| Net income | −$138.8M | $257.4M | −$925.0K | −$378.7M | −$378.3M | −$239.8M | |
| Diluted EPS | −$0.49 | $0.77 | −$0.00 | −$1.33 | −$1.52 | −$0.89 | |
| Gross margin | 53.0% | 46.4% | 33.3% | 34.1% | -63.1% | -62.5% | |
| Operating margin | -76.0% | 123.9% | 0.4% | -174.7% | -82.0% | -81.0% |
Fiscal years (4-quarter sums)FY21 $46.6M · FY22 $126.3M · FY23 $168.3M · FY24 $379.0M · FY25 $766.3M
Balance sheet, Jun 30, 2026Cash & short-term investments $794.7M · Total debt $1.78B · Total assets $2.70B · Shareholders' equity $761.3M
Dividends
No dividends on record.
Ownership
Shares outstanding 256.61M · Float 246.38M · 96.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 42.33M | 16.50% | 13F | Aug 7, 2026 |
| Bank of Nova Scotia | 14.79M | 5.62% | 13G | Jul 15, 2026 |
| D. E. Shaw & Co., L.P. | 12.86M | 5.00% | 13G | Jul 17, 2026 |
| Situational Awareness LP | 12.28M | 4.78% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 11.46M | 4.47% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 14, 2026 | Taylor Monnig | officer: CTO, COO | −54 | $11.51 |
| Dec 23, 2025 | Thomas Leigh Wood | director | −85,315 | $11.69 |
| Dec 4, 2025 | Amanda Cavaleri | director | −33,000 | $15.02 |
| Sep 9, 2025 | Taylor Monnig | officer: CTO, COO | −63,713 | $9.12 |
Peers
- MARA
Largest US-listed BTC miner by hashrate; dual-track AI/HPC pivot.
- Riot Platforms
Large-scale US Bitcoin miner and emerging AI data center developer in Texas.
- Core Scientific
Pivoting ex-miner now operating ~1.2 GW of US data centers for AI colocation.
- IREN
Renewable-power data center operator pivoting from Bitcoin mining to AI cloud.
- Applied Digital
Pure-play AI data center developer leasing large-scale campuses to hyperscalers.
- Hut 8
Canadian infra platform; BTC mining via American Bitcoin JV; $7B AI pivot.
- TeraWulf
BTC miner pivoting Lake Mariner (NY) to HPC; $12.8B in contracted leases.
- Cipher Digital
Former Bitcoin miner pivoting hard to HPC via $3.73B debt-funded data centers.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CleanSpark | $11.65 | −0.08% | $2.99B | — | — | 4.4 | −30.5% |
| MARA | $10.68 | +0.19% | $4.07B | — | — | 5.1 | −26.7% |
| Riot Platforms | $18.96 | −0.16% | $7.18B | — | — | 10.6 | +13.9% |
| Core Scientific | $16.58 | +0.28% | $5.31B | — | 312.6 | 12.0 | +108.8% |
| IREN | $35.60 | +0.46% | $12.65B | — | — | 16.7 | −26.8% |
| Applied Digital | $25.52 | +0.61% | $7.29B | — | — | 12.7 | +580.7% |
| Hut 8 | $79.75 | +0.41% | $8.94B | — | — | 30.8 | +81.4% |
| TeraWulf | $15.43 | +0.42% | $7.61B | — | — | 46.0 | −6.0% |
| Cipher Digital | $15.18 | +0.06% | $6.21B | — | — | 32.5 | −43.0% |
| Median | — | 312.6 | 14.7 | +3.9% |