CleanSpark Reports Third Fiscal Quarter 2026 Results
Signed 20-year $6.6 billion triple-net lease at Sandersville with high investment-grade tenant
Anticipated equity portion of Sandersville project has been fully funded LAS VEGAS, August 6, 2026--CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark" or the "Company"), a market leading data center developer, today reported financial results for the quarter ended June 30, 2026.
CleanSpark CEO and Chairman Matt Schultz commented, “We continue to successfully execute on our strategic evolution to a diversified digital infrastructure platform. Our recently announced Sandersville lease offers an ideal combination of long-term, durable cash flows and de-risked economic returns for our shareholders. We remain focused on the commercialization of our existing assets and the acquisition of scalable infrastructure to further bolster our portfolio.”
"Capital stewardship remains central to how we allocate resources and evaluate growth," said Gary Vecchiarelli, President and CFO. "By fully funding our anticipated equity commitment for Sandersville and securing the long-lead equipment required to meet the project ready-for-service schedule, we have materially de-risked execution while preserving balance sheet flexibility. Despite currently challenging bitcoin mining economics, we have a portfolio of scarce, grid-connected power assets and multiple pathways to commercialization, and we are positioned to convert infrastructure optionality into durable cash flows and long-term shareholder value."
Quarterly revenues were $138.0 million, a year-over-year decrease of $60.6 million, or 30.5%, from $198.6 million.
Net loss for the three months ended June 30, 2026, was ($239.8 million) or ($0.89) per basic share, compared to a net income of ($257.4 million) or $0.90 per basic share, for the same prior year period.
Adjusted EBITDA, a non-GAAP measure reconciled below, decreased to ($113.0 million) from ($377.7 million) from the same period a year ago. Balance Sheet Highlights as of June 30, 2026 Assets
Total Stockholders' Equity: $0.8 billion 1 The Company had working capital of $761 million as of June 30, 2026.
1As of June 30, 2026, the Company’s total HODL value was $814.9 million, consisting of current bitcoin, non-current bitcoin, and bitcoin held by counterparties related to collateral arrangements.
The Company will hold its fiscal Q3 2026 earnings presentation and business update for investors and analysts today, August 6, 2026, at 4:30 p.m. ET / 1:30 p.m. PT.
The webcast will be accessible for at least 30 days on the Company's website and a transcript of the call will be available on the Company's website following the call.
CleanSpark is scheduled to participate in the KeyBanc Capital Markets Technology Leadership Forum on August 10, 2026, Canaccord Genuity’s 46thAnnual Growth Conference on Tuesday, August 11, 2026, and the Needham Virtual AI Infrastructure 1x1 Conference on Wednesday, August 12, 2026. If applicable, live presentation webcasts, replay information and updated investor presentations will be available on the Company’s investor relations page of its website.
CleanSpark (Nasdaq: CLSK), is a market-leading data center developer with a proven track record of success. We control a portfolio of more than 1.8 GW of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence, and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company's evolving business strategy to expand into the market for data center development, high-performance computing ("HPC"), and artificial intelligence ("AI"), and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. 2 The forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward- looking statements, including, but not limited to: the success of development and commercialization of some or all of our existing portfolio of bitcoin mining sites, as well as our other power and land assets, as data centers having operations other than bitcoin mining; identification and acquisition of new sites and power capacity capable of supporting data centers; risks related to data center construction and operations, including permitting and utility constraints, construction delays, cost overruns, financing and supply-chain challenges, tenant performance, and the possibility projects may not be completed, delivered or operated on the anticipated timeline, budget or terms; the success of the Company's bitcoin mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which the Company operates, including the volatility of BTC prices; increasing difficulty rates for bitcoin mining; bitcoin halving; changes to compute and data center infrastructure; new or additional governmental regulation; dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized, including in respect of the data center development, leasing, and compute markets; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in those filings.
Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward- looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.
We present Adjusted EBITDA, which is not a measurement of financial performance under GAAP. Our non-GAAP “Adjusted EBITDA” excludes (i) impacts of interest, taxes, and depreciation; (ii) our share-based compensation expense, unrealized gains/losses on securities, and changes in the fair value of contingent consideration with respect to previously completed acquisitions, all of which are non-cash items that we believe are not reflective of our general business performance, and for which the accounting requires management judgment, and the resulting expenses could vary significantly in comparison to other companies; (iii) non-cash impairment losses related to long-lived assets; (iv) realized gains and losses on sales of equity securities, the amounts of which are directly related to the unrealized gains and losses that are also excluded; (v) legal fees related to litigation and various transactions, which fees management does not believe are reflective of our ongoing operating activities; (vi) gains and losses on disposal of assets, the majority of which are related to obsolete or unrepairable machines that are no longer deployed; (vii) gains and losses related to discontinued operations that would not be applicable to our future business activities; and (viii) severance expenses.
Management believes that providing this non-GAAP financial measure that excludes these items allows for meaningful comparisons between the Company’s core business operating results and those of other companies, and provides the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time. In addition to management’s internal use of non-GAAP Adjusted EBITDA, management believes that Adjusted EBITDA is also useful to investors and analysts in comparing our performance across reporting periods on a consistent basis. Management believes the foregoing to be the case even though some of the excluded items involve cash outlays and some of them recur on a regular basis (although management does not believe any of such items are normal operating expenses necessary to generate our bitcoin-related revenues). For example, we expect that share-based compensation expense, which is excluded from Adjusted EBITDA, will continue to be a significant recurring expense over the coming years and is an important part of the compensation provided to certain employees, officers and directors. 3 The Company’s Adjusted EBITDA measure may not be directly comparable to similar measures provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently. The Company’s Adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to operating (loss) income or any other measure of performance derived in accordance with GAAP. Although management utilizes internally and presents Adjusted EBITDA, we only utilize that measure supplementally and do not consider it to be a substitute for, or superior to, the information provided by GAAP financial results.
Accordingly, Adjusted EBITDA is not meant to be considered in isolation of, and should be read in conjunction with, the information contained in our Condensed Consolidated Financial Statements, which have been prepared in accordance with GAAP. 4 CLEANSPARK, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share amounts)
June 30, September 30, 2026 2025 ────────────────────────────────────────────────────────────────────────────── -Unaudited ASSETS Current assets Cash and cash $ 202,601 $ 42,966 equivalents Restricted cash 3,738 3,490 Prepaid expense and 20,901 11,875 other current assets Bitcoin - current 592,058 966,829 Receivable from bitcoin 100,607 294,648 collateral Derivative investments 922 233 Total current assets $ 920,827 $ 1,320,041 Bitcoin - noncurrent $ 122,235 $ 222,614 Property and equipment, 1,335,102 1,363,681 net Operating lease right 4,494 4,254 of use assets Intangible assets, net 3,675 5,849 Deposits on miners and 86,264 112,037 mining equipment Other long-term assets 97,944 23,497 Goodwill 131,658 131,658 Total assets $ 2,702,199 $ 3,183,631 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ 11,230 $ 15,159 Accrued liabilities 131,342 117,544 Other current 10,827 6,096 liabilities Current portion of debt 2,353 176,570 Dividends payable — 396 Total current $ 155,752 $ 315,765 liabilities Long-term liabilities Long-term debt, net of current portion, 1,780,011 644,586 debt discount and debt issuance costs Deferred income taxes 597 44,872 Other long-term 4,556 3,281 liabilities Total liabilities $ 1,940,916 $ 1,008,504
5 CLEANSPARK, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (continued) (in thousands, except par value and share amounts)
Series A shares; 2,000,000 authorized; 1,750,000 issued 2 2 and outstanding (liquidation preference $0.02 per share) Common stock; $0.001 par value; 600,000,000 shares authorized; 299,161,671 and 296,087,533 299 296 shares issued; 256,796,280 and 284,327,598 shares outstanding, respectively Additional 2,521,933 2,445,723 paid-in capital Accumulated (1,152,790 ) (125,894 ) deficit Treasury stock at cost; 42,365,391 and (608,161 ) (145,000 ) 11,759,935 shares held, respectively Total stockholders’ 761,283 2,175,127 equity Total liabilities and $ 2,702,199 $ 3,183,631 stockholders’ equity
6 CLEANSPARK, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Unaudited, in thousands, except per share and share amounts)
7 CLEANSPARK, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (continued) (Unaudited, in thousands, except per share and share amounts)
* We have not excluded our Loss (gain) on fair value of bitcoin, net or our (Loss) gain on bitcoin collateral which we record in our Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income as provided in ASC 350-60 and discussed in the Form 10-K. Loss (gain) on fair value of bitcoin, net totaled a loss of $116,250 and a gain of $268,651 in the three months ended June 30, 2026 and 2025 , respectively, and a loss of $587,189 and a gain of $359,190 in the nine months ended June 30, 2026 and 2025 , respectively. (Loss) gain on bitcoin collateral totaled a loss of $16,506 and a gain of $31,354 in the three months ended June 30, 2026 and 2025 , respectively, and a loss of $158,964 and a gain of $73,847 in the nine months ended June 30, 2026 and 2025 , respectively. Investor Relations Contact Harry Sudock 702-989-7693 ir@cleanspark.com Media Contact Eleni Stylianou 702-989-7694 pr@cleanspark.com 9
Full text with the tables
EXHIBIT 99.1
CleanSpark Reports Third Fiscal Quarter 2026 Results
Signed 20-year $6.6 billion triple-net lease at Sandersville with high
investment-grade tenant
Ordered and pre-paid all long-lead items to meet Sandersville RFS date
Anticipated equity portion of Sandersville project has been fully funded
LAS VEGAS, August 6, 2026--CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark" or the
"Company"), a market leading data center developer, today reported financial
results for the quarter ended June 30, 2026.
CleanSpark CEO and Chairman Matt Schultz commented, “We continue to successfully
execute on our strategic evolution to a diversified digital infrastructure
platform. Our recently announced Sandersville lease offers an ideal combination
of long-term, durable cash flows and de-risked economic returns for our
shareholders. We remain focused on the commercialization of our existing assets
and the acquisition of scalable infrastructure to further bolster our
portfolio.”
"Capital stewardship remains central to how we allocate resources and evaluate
growth," said Gary Vecchiarelli, President and CFO. "By fully funding our
anticipated equity commitment for Sandersville and securing the long-lead
equipment required to meet the project ready-for-service schedule, we have
materially de-risked execution while preserving balance sheet flexibility.
Despite currently challenging bitcoin mining economics, we have a portfolio of
scarce, grid-connected power assets and multiple pathways to commercialization,
and we are positioned to convert infrastructure optionality into durable cash
flows and long-term shareholder value."
Financial Highlights: Third Quarter Fiscal Year 2026
Quarterly revenues were $138.0 million, a year-over-year decrease of $60.6
million, or 30.5%, from $198.6 million.
Net loss for the three months ended June 30, 2026, was ($239.8 million) or
($0.89) per basic share, compared to a net income of ($257.4 million) or $0.90
per basic share, for the same prior year period.
Adjusted EBITDA, a non-GAAP measure reconciled below, decreased to ($113.0
million) from ($377.7 million) from the same period a year ago.
Balance Sheet Highlights as of June 30, 2026
Assets
Cash: $202.6 million
Bitcoin: $814.9 million (1)
Total Current Assets: $920.8 million
Total Assets: $2.7 billion
Liabilities and Stockholders' Equity
Current Liabilities: $155.8 million
Total Long-Term Debt, Net of Debt Discount and Issuance Costs: $1.8 billion
Total Liabilities: $1.9 billion
Total Stockholders' Equity: $0.8 billion
1
The Company had working capital of $761 million as of June 30, 2026.
1As of June 30, 2026, the Company’s total HODL value was $814.9 million,
consisting of current bitcoin, non-current bitcoin, and bitcoin held by
counterparties related to collateral arrangements.
Investor Conference Call and Webcast
The Company will hold its fiscal Q3 2026 earnings presentation and business
update for investors and analysts today, August 6, 2026, at 4:30 p.m. ET / 1:30
p.m. PT.
Webcast URL:https://clsk.news/q3fy26
The webcast will be accessible for at least 30 days on the Company's website and
a transcript of the call will be available on the Company's website following
the call.
Upcoming Investor Events
CleanSpark is scheduled to participate in the KeyBanc Capital Markets Technology
Leadership Forum on August 10, 2026, Canaccord Genuity’s 46thAnnual Growth
Conference on Tuesday, August 11, 2026, and the Needham Virtual AI
Infrastructure 1x1 Conference on Wednesday, August 12, 2026. If applicable, live
presentation webcasts, replay information and updated investor presentations
will be available on the Company’s investor relations page of its website.
About CleanSpark
CleanSpark (Nasdaq: CLSK), is a market-leading data center developer with a
proven track record of success. We control a portfolio of more than 1.8 GW of
power, land, and data centers across the United States powered by globally
competitive energy prices. Sitting at the intersection of Bitcoin, energy,
operational excellence, and capital stewardship, we optimize our infrastructure
to deliver superior returns to our shareholders. Monetizing low-cost, high
reliability energy by producing a global emerging critical resource – compute –
positions us to prosper in an ever-changing world.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In this press release,
forward-looking statements include, but may not be limited to, statements
regarding the Company's evolving business strategy to expand into the market for
data center development, high-performance computing ("HPC"), and artificial
intelligence ("AI"), and other statements regarding the Company’s expectations,
beliefs, plans, intentions, and strategies. In some cases, you can identify
forward-looking statements by terms such as "may," "will," "should," "expects,"
"plans," "anticipates," "could," "intends," "targets," "projects,"
"contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or
"continue" or the negative of these terms or other similar expressions.
2
The forward-looking statements are subject to a variety of known and unknown
risks, uncertainties, and other important factors that may cause our actual
results, performance, or achievements to be materially different from any future
results, performance, or achievements expressed or implied by the forward-
looking statements, including, but not limited to: the success of development
and commercialization of some or all of our existing portfolio of bitcoin mining
sites, as well as our other power and land assets, as data centers having
operations other than bitcoin mining; identification and acquisition of new
sites and power capacity capable of supporting data centers; risks related to
data center construction and operations, including permitting and utility
constraints, construction delays, cost overruns, financing and supply-chain
challenges, tenant performance, and the possibility projects may not be
completed, delivered or operated on the anticipated timeline, budget or terms;
the success of the Company's bitcoin mining activities; the volatile and
unpredictable cycles in the emerging and evolving industries in which the
Company operates, including the volatility of BTC prices; increasing difficulty
rates for bitcoin mining; bitcoin halving; changes to compute and data center
infrastructure; new or additional governmental regulation; dependency on utility
rate structures and government incentive programs; dependency on third-party
power providers for expansion efforts; the expectations of future revenue growth
may not be realized, including in respect of the data center development,
leasing, and compute markets; and other risks described in the Company's prior
press releases and in its filings with the Securities and Exchange Commission
(SEC), including under the heading "Risk Factors" in those filings.
Forward-looking statements contained herein are made only as to the date of this
press release, and we assume no obligation to update or revise any forward-
looking statements as a result of any new information, changed circumstances or
future events or otherwise, except as required by applicable law.
Non-GAAP Measure
We present Adjusted EBITDA, which is not a measurement of financial performance
under GAAP. Our non-GAAP “Adjusted EBITDA” excludes (i) impacts of interest,
taxes, and depreciation; (ii) our share-based compensation expense, unrealized
gains/losses on securities, and changes in the fair value of contingent
consideration with respect to previously completed acquisitions, all of which
are non-cash items that we believe are not reflective of our general business
performance, and for which the accounting requires management judgment, and the
resulting expenses could vary significantly in comparison to other companies;
(iii) non-cash impairment losses related to long-lived assets; (iv) realized
gains and losses on sales of equity securities, the amounts of which are
directly related to the unrealized gains and losses that are also excluded; (v)
legal fees related to litigation and various transactions, which fees management
does not believe are reflective of our ongoing operating activities; (vi) gains
and losses on disposal of assets, the majority of which are related to obsolete
or unrepairable machines that are no longer deployed; (vii) gains and losses
related to discontinued operations that would not be applicable to our future
business activities; and (viii) severance expenses.
Management believes that providing this non-GAAP financial measure that excludes
these items allows for meaningful comparisons between the Company’s core
business operating results and those of other companies, and provides the
Company with an important tool for financial and operational decision making and
for evaluating its own core business operating results over different periods of
time. In addition to management’s internal use of non-GAAP Adjusted EBITDA,
management believes that Adjusted EBITDA is also useful to investors and
analysts in comparing our performance across reporting periods on a consistent
basis. Management believes the foregoing to be the case even though some of the
excluded items involve cash outlays and some of them recur on a regular basis
(although management does not believe any of such items are normal operating
expenses necessary to generate our bitcoin-related revenues). For example, we
expect that share-based compensation expense, which is excluded from Adjusted
EBITDA, will continue to be a significant recurring expense over the coming
years and is an important part of the compensation provided to certain
employees, officers and directors.
3
The Company’s Adjusted EBITDA measure may not be directly comparable to similar
measures provided by other companies in our industry, as other companies in our
industry may calculate non-GAAP financial results differently. The Company’s
Adjusted EBITDA is not a measurement of financial performance under GAAP and
should not be considered as an alternative to operating (loss) income or any
other measure of performance derived in accordance with GAAP. Although
management utilizes internally and presents Adjusted EBITDA, we only utilize
that measure supplementally and do not consider it to be a substitute for, or
superior to, the information provided by GAAP financial results.
Accordingly, Adjusted EBITDA is not meant to be considered in isolation of, and
should be read in conjunction with, the information contained in our Condensed
Consolidated Financial Statements, which have been prepared in accordance with
GAAP.
4
CLEANSPARK, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par
value and share amounts)
June 30, September 30,
2026 2025
──────────────────────────────────────────────────────────────────────────────
-Unaudited
ASSETS
Current assets
Cash and cash $ 202,601 $ 42,966
equivalents
Restricted cash 3,738 3,490
Prepaid expense and 20,901 11,875
other current assets
Bitcoin - current 592,058 966,829
Receivable from bitcoin 100,607 294,648
collateral
Derivative investments 922 233
Total current assets $ 920,827 $ 1,320,041
Bitcoin - noncurrent $ 122,235 $ 222,614
Property and equipment, 1,335,102 1,363,681
net
Operating lease right 4,494 4,254
of use assets
Intangible assets, net 3,675 5,849
Deposits on miners and 86,264 112,037
mining equipment
Other long-term assets 97,944 23,497
Goodwill 131,658 131,658
Total assets $ 2,702,199 $ 3,183,631
LIABILITIES AND
STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable $ 11,230 $ 15,159
Accrued liabilities 131,342 117,544
Other current 10,827 6,096
liabilities
Current portion of debt 2,353 176,570
Dividends payable — 396
Total current $ 155,752 $ 315,765
liabilities
Long-term liabilities
Long-term debt, net of
current portion, 1,780,011 644,586
debt discount and debt
issuance costs
Deferred income taxes 597 44,872
Other long-term 4,556 3,281
liabilities
Total liabilities $ 1,940,916 $ 1,008,504
5
CLEANSPARK, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (continued) (in
thousands, except par value and share amounts)
June 30, September 30,
2026 2025
──────────────────────────────────────────────────────────────────────────────
-Unaudited
Stockholders’
equity
Preferred stock;
$0.001 par
value;
10,000,000
shares
authorized:
Series A shares;
2,000,000
authorized;
1,750,000 issued 2 2
and outstanding
(liquidation
preference $0.02
per share)
Common stock;
$0.001 par
value;
600,000,000
shares
authorized;
299,161,671 and
296,087,533 299 296
shares
issued;
256,796,280 and
284,327,598
shares
outstanding,
respectively
Additional 2,521,933 2,445,723
paid-in capital
Accumulated (1,152,790 ) (125,894 )
deficit
Treasury stock
at cost;
42,365,391 and (608,161 ) (145,000 )
11,759,935
shares held,
respectively
Total
stockholders’ 761,283 2,175,127
equity
Total
liabilities and $ 2,702,199 $ 3,183,631
stockholders’
equity
6
CLEANSPARK, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE (LOSS) INCOME (Unaudited, in thousands, except per share and share
amounts)
For For
the the
three nine
mont… mont…
ended ended
June June
Rev… 30, 30,
net 2026 2025 2026 2025
──────────────────────────────────────────────────────────────────────────────
Bit…
min… $ 138,… $ 198… $ 455… $ 542,…
rev…
net
Cos…
and
exp…
Cost
of
rev…
(ex… 85,4… 90,… 262… 245,…
of
dep…
and
amo…
Pro… 7,108 3,0… 22,… 9,872
fees
Pay… 27,8… 16,… 76,… 52,5…
exp…
Gen…
and 18,2… 16,… 49,… 38,3…
adm…
exp…
Loss
(ga…
on 2,925 156 6,6… (2,8… )
dis…
of
ass…
Loss
(ga…
on
fair 116,… (26… ) 587… (359… )
val…
of
bit…
net
Dep…
and 111,… 94,… 333… 240,…
amo…
Ind…
tax 1,500 — 6,3… —
con…
exp…
Imp… — — 5,4… —
exp…
Tot…
cos… $ 370,… $ (47… ) $ 1,3… $ 224,…
and
exp…
(Lo…
inc… (232… ) 246… (89… ) 318,…
from
ope…
Oth…
(ex…
inc…
(Lo…
gain
on (16,… ) 31,… (15… ) 73,8…
bit…
col…
Gain
(lo…
on 5,673 (430 ) 12,… (1,5… )
der…
sec…
net
Int… 2,143 355 7,4… 3,845
inc…
Int… (2,0… ) (3,… ) (7,… ) (6,2… )
exp…
Oth… 318 1,5… 187 1,692
inc…
Tot…
oth… $ (10,… ) $ 29,… $ (14… ) $ 71,5…
(ex…
inc…
(Lo…
inc…
bef…
inc… (242… ) 275… (1,… ) 389,…
tax
(be…
exp…
Inc…
tax (2,9… ) 18,… (44… ) 24,2…
(be…
exp…
Net
(lo… $ (239… ) $ 257… $ (99… ) $ 365,…
inc…
Pre…
sto…
div… — 5,6… 30,… 10,7…
inc…
dee…
div…
Net
(lo…
inc…
att… $ (239… ) $ 251… $ (1,… ) $ 354,…
to
com…
sha…
Oth…
com…
(lo…
inc… — (223 ) — 2,755
net
of
tax
Tot…
com…
(lo…
inc… $ (239… ) $ 251… $ (1,… ) $ 357,…
att…
to
com…
sha…
7
CLEANSPARK, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE (LOSS) INCOME (continued) (Unaudited, in thousands, except per
share and share amounts)
For
the For the
three nine
months months
ended ended
June June
2026 30, 2025 2026 30, 2025
──────────────────────────────────────────────────────────────────────────────
(Los…
inco…
from
oper…
per $ (0.89 ) $ 0.90 $ (3.77 ) $ 1.26
comm…
share
-
basic
Weig…
aver…
comm…
shar… 268,4… 280,9… 272,62… 282,1…
outs…
-
basic
(Los…
inco…
from
oper…
per $ (0.89 ) $ 0.78 $ (3.77 ) $ 1.13
comm…
share
-
dilu…
Weig…
aver…
comm…
shar… 268,4… 325,5… 272,62… 314,1…
outs…
-
dilu…
8
CLEANSPARK, INC. RECONCILIATION OF ADJUSTED EBITDA (Unaudited, in thousands)
For For
the the
Re… thr… nine
of mon… mont…
no… ($ end… ended
Ad… in June June
EB… tho… 2026 30, 2025 2026 30, 2025
──────────────────────────────────────────────────────────────────────────────
Net
(l… $ (23… ) $ 257… $ (996… ) $ 365…
in…
De…
and 111… 94,… 333,… 240…
am…
Sh…
co… 14,… 4,4… 38,7… 10,…
ex…
Ga…
(l…
on (5,… ) 430 (12,… ) 1,5…
de…
se…
net
In… (2,… ) (355 ) (7,4… ) (3,… )
in…
In… 2,0… 3,4… 7,790 6,2…
ex…
Ot… (318 ) (1,… ) (187 ) (1,… )
in…
Lo…
(g…
on 2,9… 156 6,692 (2,… )
di…
of
as…
Fe…
re…
to
fi… 4,9… 22 10,2… 653
&
bu…
de…
tr…
Li…
&
se… 807 638 3,267 1,1…
re…
ex…
Se…
and 150 — 50 12
ot…
In…
tax (2,… ) 18,… (44,… ) 24,…
(b…
ex…
In…
tax 1,5… — 6,393 —
co…
ex…
Im… — — 5,406 —
ex…
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* We have not excluded our Loss (gain) on fair value of bitcoin, net or our
(Loss) gain on bitcoin collateral which we record in our Condensed Consolidated
Statements of Operations and Comprehensive (Loss) Income as provided in ASC
350-60 and discussed in the Form 10-K. Loss (gain) on fair value of bitcoin, net
totaled a loss of $116,250 and a gain of $268,651 in the three months ended June
30, 2026 and 2025 , respectively, and a loss of $587,189 and a gain of $359,190
in the nine months ended June 30, 2026 and 2025 , respectively. (Loss) gain on
bitcoin collateral totaled a loss of $16,506 and a gain of $31,354 in the three
months ended June 30, 2026 and 2025 , respectively, and a loss of $158,964 and a
gain of $73,847 in the nine months ended June 30, 2026 and 2025 , respectively.
Investor Relations Contact Harry Sudock
702-989-7693
ir@cleanspark.com Media Contact Eleni Stylianou
702-989-7694
pr@cleanspark.com
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