Bitcoin News Today: CleanSpark Q3 Revenue Surges 91% to $198.6M as Bitcoin Treasury Hits $1 Billion

CleanSpark recorded a record third-quarter revenue of $198.6 million for the period ending June 30, marking a 91% year-over-year increase from $104 million [1]. The Las Vegas-based Bitcoin miner exceeded analyst expectations, which had projected around $195 million in revenue. The company also reported a net income of $257.4 million, a dramatic shift from a $236.2 million loss in the same period last year. CEO Zach Bradford described the quarter as "the most successful in CleanSpark's history," highlighting a diluted earnings per share of 78 cents, far surpassing the 20 cents per share analysts had forecasted [1].

A key milestone was achieved with CleanSpark becoming the first publicly traded company to reach 50 exahashes per second (EH/s) using solely U.S.-based infrastructure. This advancement strengthened its market position, as the company now controls 5.8% of the global Bitcoin hashrate and holds 12,703 BTC, valued at approximately $1.48 billion at current prices [1]. The miner also reported an adjusted EBITDA of $377.7 million, contrasting sharply with a $12.6 million loss in the prior year [1]. The company has expanded its Bitcoin treasury to over $1 billion without issuing new equity since November 2024.

CleanSpark's CFO, Gary Vecchiarelli, emphasized the significance of the third quarter, stating that the company fully funded its operational expenses through Bitcoin mining while growing its treasury. The 50 EH/s milestone is a strategic advantage in a sector where scale and efficiency are key to profitability [1]. Despite the impressive performance, investor reaction was mixed. CleanSpark shares declined 2.5% to $10.72 following the earnings report, though the stock has gained 16.4% year-to-date, outperforming some sector peers like MARA Holdings, which has fallen more than 7% in 2025 [1].

The broader Bitcoin mining industry has also seen a surge due to a 32% increase in Bitcoin’s price during the quarter. The asset rose from approximately $86,500 in April to nearly $109,000 by June [1]. Competitors such as MARA Holdings and Riot Platforms reported strong financial results as well, with MARA posting $238 million in revenue and Riot recording $219.5 million in net income [1].

CleanSpark’s focus on U.S. infrastructure aligns with industry trends toward geographic diversification and sustainability. The company’s achievement of 50 EH/s through exclusively American facilities reinforces this trend. Previously, the Bitcoin network reached 50% renewable energy use, addressing environmental concerns and paving the way for greater institutional acceptance [1]. CleanSpark’s ability to fund growth through mining revenue rather than equity issuance positions it for continued expansion in a highly competitive market. The company now ranks as the ninth-largest Bitcoin holder among public firms, with its operational hashrate placing it among industry leaders [1].

Source: [1]CleanSpark Posts $198.6 Million Revenue as Bitcoin Treasury Reaches $1 Billion Value (https://coinmarketcap.com/community/articles/6895dafffbf0d76ec0d0a73b/)