The company also became the first US-based public miner to reach 50 exahashes per second using only American infrastructure, and grew its Bitcoin holdings to 12,703 BTC without raising new equity. Despite outperforming expectations, CleanSpark’s stock dipped over 2.5% after the announcement. CleanSpark Outpaces Expectations CleanSpark delivered its strongest quarterly performance to date, and reported record revenue and profitability that surpassed Wall Street expectations. For the third fiscal quarter, spanning April to June, the Bitcoin mining company posted $198.6 million in revenue. This is up 91% from $104 million during the same period last year, and exceeded analyst projections of $195 million. CleanSpart earnings report The company also reported an impressive turnaround in profitability by posting a net income of $257.4 million compared to a $236.2 million loss in the year before. Its diluted earnings per share came in at 78 cents, well above the expected 20 cents. CEO Zach Bradford described it as “the most successful quarter in CleanSpark’s history,” and attributed the results to the firm’s strategic execution. CFO Gary Vecchiarelli added that the company fully funded its operations through Bitcoin production alone while also expanding its BTC holdings. Additionally, CleanSpark achieved a major operational milestone by becoming the first publicly traded US-based Bitcoin mining company to reach a hashrate of 50 exahashes per second using only American infrastructure. This accounts for about 5.8% of the global Bitcoin hashrate. As of 2025, the firm holds 12,703 BTC, which is valued at approximately $1.48 billion, placing it ninth among public companies with the largest Bitcoin treasuries. The company was able to achieve this without issuing new equity to raise capital. Top Bitcoin treasury companies ( BitcoinTreasuries.NET ) Despite the strong financial performance, investor response was quite muted. CleanSpark shares closed down over 2.5% on Thursday at $10.72, with only a modest uptick in after-hours trading. However, the stock is still up 16.4% year-to-date, outperforming MARA Holdings, which has seen a 7% decline over the same period. CleanSpark share price over the past 24 hours (Source: Google Finance ) The strong quarter for CleanSpark happened at a time of bullish momentum in the Bitcoin mining sector, driven in large part by a 32% rise in Bitcoin’s price over the quarter. Other miners also reported solid earnings: MARA Holdings saw a 64% year-over-year revenue increase to $238 million, while Riot Platforms posted a record net income of $219.5 million.