The Las Vegas-based firm recorded quarterly revenues of $138 million, representing a 30.5% decline from the previous year’s $198.6 million. Adjusted EBITDA also swung into negative territory, dropping to a loss of $113 million compared to a $377.7 million gain in the year-ago period. Management attributed the results to volatile bitcoin mining economics and the aggressive pursuit of a diversified digital infrastructure strategy.

To stabilize its long-term outlook, CleanSpark finalized a 20-year, $6.6 billion triple-net lease in Sandersville. Executives stated that they have fully funded the project's equity requirements and secured necessary long-lead equipment to maintain the site's service schedule. Despite the current financial headwinds, the company maintains a strong liquidity position, reporting $202.6 million in cash and $814.9 million in bitcoin holdings as of June 30, 2026.