CleanSpark's $45.6 Million Trading Volume Ranks 178th in Stock Market Activity

On May 9, 2025, CleanSpark's trading volume reached $45.6 million, marking a 60.71% increase from the previous day and ranking 178th in the day's stock market activity. The company's stock price rose by 5.99%, marking the second consecutive day of gains and a total increase of 14.57% over the past two days.

CleanSpark, a prominent American Bitcoin mining company, recently announced its financial results for the second quarter of fiscal year 2025. The company reported a significant revenue of $181.7 million for the three months ending March 31, 2025, reflecting a substantial 62.5% increase from the $111.8 million reported in the same period last year. Despite this revenue growth, CleanSpark reported a net loss of $138.8 million, or $0.49 per basic share, compared to a net income of $126.7 million, or $0.59 per basic share, in the prior-year period. Adjusted EBITDA also declined to negative $57.8 million from $181.8 million a year ago.

As of March 31, 2025, CleanSpark held $97.0 million in cash and $979.6 million in bitcoin. Total current assets stood at $947.5 million, with mining assets, including prepaid deposits and deployed miners, totaling $899.6 million. Total assets reached $2.7 billion. The company’s liabilities amounted to $766.5 million, with $109.3 million in current liabilities and $641.7 million in long-term debt. Total stockholders’ equity was $1.9 billion. CleanSpark reported working capital of $838.2 million as of March 31, 2025, which includes a $50 million bitcoin-backed credit line. This facility provides flexible funding while allowing the company to preserve equity and strategically leverage its bitcoin holdings.

CleanSpark's CEO, Zach Bradford, highlighted the company's disciplined approach in the rapidly evolving bitcoin mining landscape. He emphasized that while other players may be shifting direction or decelerating growth, CleanSpark has doubled down on being the only remaining pure-play, public bitcoin miner. Bradford stated that the company remains on track to reach its 50 EH/s target during June, while growing its bitcoin treasury, strengthening the balance sheet, and prioritizing long-term stockholder value. He also referenced CleanSpark’s leadership in infrastructure and financial strategy, including its pioneering ASIC option structure and non-dilutive financing methods.

Gary Vecchiarelli, CleanSpark’s CFO, noted that the company maintained one of the most efficient cost structures in the industry while expanding operations without diluting shareholder equity. He mentioned that CleanSpark continued to invest in strategic and accretive expansion without relying on dilutive capital, as demonstrated by its expanded revolving line with Coinbase. Vecchiarelli also highlighted the progress made by the Digital Asset Management group, which is preparing to optimize the company's treasury, positioning bitcoin as both a productive asset and a source of strength on the balance sheet.