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CleanSpark disclosed on Monday that its net loss for the second quarter of 2026 soared to $378.3 million, a 173% increase from $138.8 million in the same quarter last year, according to its financial report.
The loss includes a $224.1 million impairment charge related to its Bitcoin holdings; the holdings were valued at $925.2 million at the end of the quarter.
Bitcoin mining revenue decreased by 25% from $181.7 million the previous year to $136.4 million.
The company's fiscal second quarter ended on March 31, 2026.