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Investing.com -- CleanSpark, Inc. (NASDAQ:CLSK), a Bitcoin mining company expanding into AI infrastructure, reported fiscal year 2025 revenue of $766.3 million, more than doubling last year’s figure of $379 million, as the company achieved significant operational scale and benefited from higher Bitcoin prices.
The company posted adjusted earnings per share of $1.12 for the fiscal year ended September 30, swinging from a loss of $0.69 per share in the previous year. CleanSpark ’s shares rose around 3% in after-hours trading Tuesday following the announcement, reflecting investor optimism about the company’s financial turnaround and expansion plans.
CleanSpark reported net income of $364.5 million for fiscal 2025, compared to a net loss of $145.8 million in the prior year. The company’s adjusted EBITDA increased to $823.4 million from $245.8 million a year ago, demonstrating substantial operational improvement.
"Fiscal 2025 was the year CleanSpark achieved operating leverage. We surpassed 50 EH/s in operational hashrate, set new revenue records, and demonstrated strategic capital stewardship," said Matt Schultz, Chairman and CEO of CleanSpark.
The company recently closed a $1.15 billion 0% convertible transaction to accelerate expansion of its power and land portfolio as it positions itself to enter the AI infrastructure market. CleanSpark reported 43% growth in contracted power, which it says sets the stage for AI expansion.
"Our deep expertise in power procurement, infrastructure development, and efficient scaling gives us a unique advantage in meeting surging global demand for compute," Schultz added.
As of September 30, CleanSpark held $43 million in cash and $1.2 billion in Bitcoin on its balance sheet, with total assets of $3.2 billion and stockholders’ equity of $2.2 billion.
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