LM Funding Q1 Bitcoin Mining Up 7%, Energy Revenue Grows 20%.

• Bitcoin treasury valued at $17.8 million as of July 31, 2025. • Bitcoin mining and operational update for July 2025. • Mined 5.9 BTC, sold 11 BTC, and purchased 0 BTC. • Service fee and Bitcoin HODL unchanged. • Machines operational and storage unchanged at 4,320 and 1,218 respectively. • Hashrate increased to 0.60 EH/s. • July's 7% increase in production and 20% growth in energy revenue.

Las Vegas-based CleanSpark (ticker CLSK) has reported a significant surge in its third-quarter (Q3) earnings, with revenue jumping 91% year-over-year to $198.6 million. The firm's net income reached $257.4 million during the period ending June 30, 2025 [1]. This robust performance reflects the company's strategy and execution discipline, as highlighted by CEO Zach Bradford. CleanSpark's adjusted EBITDA also increased to $377.7 million, up from a loss of $12.6 million from the same period a year ago.

Bitcoin's price increase of about 26% to approximately $109,000 in June contributed to the revenue surge. CleanSpark sold 578.51 BTC in June, 293.50 BTC in May, and 401.39 BTC in April, reflecting the firm's active management of its Bitcoin holdings [1]. Notably, the company's hashing power reached 50 EH/s in Q3, accounting for 5.8% of the global hashrate and making it the first public company to achieve this with American infrastructure.

CleanSpark's Bitcoin treasury exceeded the $1 billion mark in Q3, driven by the rising price of Bitcoin and increased holdings. As of Q3, the company's total assets stood at approximately $3.1 billion, including $1.08 billion worth of Bitcoin, $985 million worth of mining assets, and $34.6 million in cash, against total liabilities and debt of about $1 billion [1].

Meanwhile, MARA Holdings (NASDAQ: MARA), the largest listed Bitcoin miner, reported its Bitcoin mining operations update for July 2025. The company produced 703 BTC in July, representing a 1% decrease month-over-month. MARA won 207 blocks in July, down 2% from June, amid a 9% increase in mining difficulty. The company's Bitcoin holdings grew to 50,639 BTC, establishing itself as the second-largest publicly traded Bitcoin holder globally. MARA's energized hashrate increased by 3% to 58.9 EH/s, reflecting operational resilience despite production declines [2].

In July 2025, Bitcoin mining revenue hit an unprecedented $1.66 billion, driven by increased network activity and higher transaction fees, despite a 43-50% reduction in profitability compared to pre-halving levels. Bitcoin's price hit a record high of $122,838 in July, signaling strong demand for the digital asset [2]. Ethereum ETPs also saw record inflows, with $727 million and $602 million added on July 16 and 17, respectively [2].

Institutional interest in digital assets surged during the month, with Bitcoin ETPs totaling $1 billion in net flows across two days. MARA's net income surged by 505% to $808 million, largely due to a $1.2 billion fair value gain on its Bitcoin holdings. However, the company's share price fell 3.6% on the following Friday, reflecting ongoing market uncertainty [2].

The top 11 mining companies collectively saw a decline in token additions during the first half of 2025, and while ten of the thirteen miners tracked by JPMorgan outperformed Bitcoin’s 8% price appreciation for the month, the broader outlook remains constrained by rising costs and structural shifts in reward structures [2].

Historically, post-halving cycles have seen initial revenue declines followed by rebounds driven by rising fees and network activity. July's trends appear to follow a similar pattern, albeit with reduced profit potential due to the 50% cut in block rewards [2].

References:
[1] https://www.theblock.co/post/366090/bitcoin-miner-cleansparks-btc-treasury-surpasses-1-billion-in-q3-2025-as-revenue-surges-91-year-over-year-to-198-6-million?utm_medium=rss&utm_source=news.xml
[2] https://www.ainvest.com/news/bitcoin-news-today-bitcoin-mining-revenue-surges-1-66-billion-post-halving-rising-fees-network-activity-2508/