CleanSpark Q1 net loss of $378 million, Bitcoin holdings worth $925 million

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Golden Finance reports that on May 12, according to official sources, CleanSpark achieved revenue of $136.4 million in Q1, a 24.9% decrease from $181.7 million in the same period last year. Net loss was $378.3 million (basic loss per share of $1.52), compared to a net loss of $138.8 million in the same period last year. Adjusted EBITDA was -$241.2 million, compared to -$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 amount to $1.1 billion, with total assets reaching $2.9 billion. Total long-term debt (excluding discounts and issuance costs) is $1.8 billion, total liabilities are $1.9 billion, total shareholders’ equity is $1 billion, and working capital is $1 billion.

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