Key Takeaways
- Shares of CleanSpark climbed around 14% on Thursday.
- CleanSpark reported a 102% annual revenue increase, reaching $766 million for fiscal year 2025.
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CleanSpark stock soared nearly 14% to close Thursday at $13.45, outperforming most crypto stocks after the company reported a tremendous increase in its fiscal year 2025 revenue, reaching $766 million and representing 102% year-over-year growth.
The company also saw a 43% rise in contracted power, setting up a robust foundation for future AI expansions. CleanSpark recently secured a $1.15 billion 0% convertible transaction to fuel further infrastructure development.
The booming performance was supported by achieving 50 EH/s in operational hashrate and implementing strategic financial instruments like Bitcoin-backed finance options. These advancements establish CleanSpark’s transition toward becoming a major AI compute platform alongside its Bitcoin mining operations.
“Beyond our revenue of $766 million and hashrate growth achievements, we also demonstrated disciplined capital investment and are financially positioned to rapidly become a leading AI infrastructure provider,” said Gary Vecchiarelli, President and Chief Financial Officer of CleanSpark.
A few other Bitcoin mining companies also posted gains today.
Cipher Mining shares jumped by about 9%. The Nasdaq-listed miner recently secured a landmark deal with AI cloud startup Fluidstack. Google is backing $1.4 billion of Fluidstack’s lease obligations and has gained options to acquire 5.4% of Cipher Mining’s shares.
Bitfarms, which announced this month that it would wind down its mining operations and pivot to AI infrastructure, saw its stock soar around 12% at market close.