CleanSpark Reports Record Quarterly Revenue, Increases Share of Global Hashrate
Date: 2025-08-11 Author: Gabriel Deangelo Categories: BUSINESS
In the second quarter of 2025 (April-June), CleanSpark's revenue reached $198.6 million, which is 91% more than in the same period in 2024, when the company earned $104 million. The figure also exceeded market expectations of $195 million. Net income amounted to $257.4 million, while a year ago a loss of $236.2 million was recorded. Diluted earnings per share increased to 78 cents, which significantly exceeded analysts' forecast of 20 cents.
According to CFO Gary Vecchiarelli, the quarter was a turning point: the company was able to fully cover its operating expenses through Bitcoin mining while increasing its own BTC reserves.
CleanSpark also became the first publicly traded U.S. mining company to reach a hash rate of 50 EH/s. This allowed it to occupy 5.8% of the global Bitcoin network hash rate using exclusively American capacities. Since the beginning of 2025, the company has received more than $1 billion in Bitcoin without raising funds through the issuance of new shares.
CleanSpark currently holds 12,703 BTC worth $1.48 billion, making it the ninth-largest holder of Bitcoin among public companies in the world.
CLSK shares on the Nasdaq exchange are currently trading at $10.2, down 4.85% in a day, but up 8.2% since the beginning of the year.
The industry as a whole showed strong results in Q2, helped by a roughly 30% increase in the price of Bitcoin during the period. For example, Marathon increased its profit by 64% year-on-year to $238 million, exceeding analysts' expectations. Riot also announced a record net profit of $219.5 million.
Thus, Q2 2025 was one of the most successful in recent years for American miners, and for CleanSpark - a new step in strengthening its leadership position in the market.
