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CleanSpark Q1 net loss of $378 million, Bitcoin holdings worth $925 million, accelerating AI/HPC digital infrastructure transformation
BlockBeats News. May 12, according to official sources, CleanSpark achieved Q1 revenue of $136.4 million, down 24.9% from $181.7 million in the same period last year. Net loss was $378.3 million (basic loss per share of $1.52), compared with a net loss of $138.8 million in the same period last year. Adjusted EBITDA was -$241.2 million, compared with -$57.8 million in the same period last year.
The balance sheet shows that as of March 31, 2026, the company held $260.3 million in cash, with Bitcoin holdings valued at $925.2 million (including current Bitcoin, non-current Bitcoin, and Bitcoin held by counterparties in collateral arrangements). Total current assets were $1.1 billion, and total assets were $2.9 billion. Total long-term debt (excluding discounts and issuance costs) was $1.8 billion, total liabilities were $1.9 billion, total shareholders’ equity was $1.0 billion, and working capital was $1.0 billion.
CleanSpark’s President and CFO Gary Vecchiarelli noted that a strong liquidity position not only supports short-term execution plans, but also preserves substantial options for future opportunities in the AI/HPC and digital infrastructure sectors, which is a direct result of the company’s long-term financial discipline.