Bitcoin News Today: CleanSpark Surges to $257.4M Profit Amid 90% Revenue Jump and Hashrate Expansion

In the second quarter of 2025, U.S.-based bitcoin miner CleanSpark achieved a record net profit of $257.4 million, with revenue jumping to $198.6 million—nearly a 90% increase compared to the same period in 2024 [1]. This marked a dramatic turnaround from a net loss of $236.2 million in the prior year. The CEO, Zach Bradford, credited the success to the company’s strategic execution and operational discipline, noting that CleanSpark had reached 50 EH/s of hashrate in June and now manages 5.8% of the global Bitcoin hashrate [1]. The company’s BTC treasury is now valued above $1 billion, achieved without raising equity since November 2024.

Despite these impressive gains, CleanSpark is currently navigating a major legal and financial challenge. U.S. Customs and Border Protection (CBP) has issued a $185 million tariff bill against the firm, related to mining rigs it imported between April and June 2024. The CBP has classified these rigs as being of Chinese origin, which would subject them to import duties [1]. CleanSpark disputes the claim and believes the allegation is without merit, vowing to challenge the tariff aggressively.

The potential for retroactive tariffs on miners imported since April 2024 adds a layer of uncertainty to CleanSpark’s financial outlook. If the CBP prevails, the company may face substantial compliance costs that could offset its recent profitability. This situation is not unique to CleanSpark; another publicly traded miner, IREN, is similarly contesting a $100 million tariff bill based on the same allegations [1]. These disputes underscore the growing regulatory scrutiny of supply chains in the U.S. bitcoin mining sector, particularly for firms relying on equipment sourced from China.

CleanSpark’s Q2 financial results represent a significant milestone for U.S. bitcoin mining operations, demonstrating the sector’s potential for profitability amid rising prices and optimized energy costs. However, the company’s exposure to international trade policy highlights the broader risks faced by firms operating in this space. As geopolitical tensions influence trade regulations, companies must balance operational efficiency with compliance strategies to sustain long-term growth.

The company has not issued any projections regarding the outcome of the tariff dispute or its potential impact on future earnings. All figures presented in the Q2 report are based on actual financial performance and legal exposure [1]. CleanSpark’s ability to resolve this issue will be critical in maintaining the momentum it has built over the past year.

Source: [1] Bitcoin Miner Cleanspark Posts Record $257M Profit, Faces $185M Tariff Dispute (https://news.bitcoin.com/bitcoin-miner-cleanspark-posts-record-257m-profit-faces-185m-tariff-dispute/)