CleanSpark Reports Q1 2026 Financial Results with Revenue Decline

CleanSpark has released its financial results for the first quarter of fiscal year 2026. According to ChainCatcher, the company reported a revenue of $136.4 million, marking a 24.9% decrease compared to the same period last year. The net loss for the quarter was $378.3 million, up from a net loss of $138.8 million in the previous year. The adjusted EBITDA stood at negative $241.2 million. The company also highlighted a doubling of its contracted power capacity year-over-year, including 585 MW approved by ERCOT. Additionally, CleanSpark's Bitcoin holdings increased by 14% year-over-year, with average monthly hash rate growing by 18%. As of March 31, 2026, CleanSpark held $260.3 million in cash, Bitcoin assets valued at $925.2 million, and total assets amounting to $2.9 billion.