Today, Bitcoin miner CleanSpark announced record 2025 revenue of $766.3 million, an increase of 102% year over year. CleanSpark attributes the increase in revenue to strategic financial investments, increased Bitcoin mining operations, and preparations to expand its AI infrastructure.
According to a CleanSpark release, net income for the year ended September 30, 2025 was $364.5 million, or $1.25 per basic share. Net loss for the year-ago period was $145.8 million, or $0.69 per basic share.
CleanSpark reports strong performance and operational momentum
According to the financial report, approximately 8,000 Bitcoins mined During the fiscal year. At the end of the period, the amount of government bonds held exceeded 13,000, all of which was due to the company's hash power. Gross profit margin decreased 1% year over year to 56.5% in the fourth quarter from 55% for the year due to post-halving weather conditions.
Normalized non-GAAP adjusted operating income EBITDA (excluding Bitcoin fair value gain) was approximately $305 million (40% margin), and non-GAAP adjusted EBITDA for the fiscal year totaled more than $800 million.
CleanSpark's Balance Sheet as of September 30th showed Bitcoin holdings are $1.2 billion, cash is $43 million, and mining assets are $950.1 million. Additionally, the company recorded working capital of $1 billion, stockholders' equity of $2.2 billion, and total assets of $3.2 billion. Long-term debt was $644.6 million, and total debt was $1.0 billion.
According to CEO Matt Schultz, CleanSpark achieved operational momentum in fiscal year 2025. He highlighted that CleanSpark has set a new revenue record with an operational hashrate of over 50 EH/s.
He added that Bitcoin mining companies set a new record by prioritizing an increasing number of capital market tools, such as convertible bonds and Bitcoin-backed revolvers, over ATMs in financing their operations during the calendar year.
“We are evolving into a comprehensive computing platform that is ready to optimize value from both AI and Bitcoin workloads. Our deep expertise in power procurement, infrastructure development, and efficient scaling gives us a unique advantage in meeting surging global computing demands.”
–matt schultzChairman and CEO of CleanSpark.
Ahead of the earnings release, CleanSpark stock closed 2.96% higher at $11.82 on Tuesday. The company's stock fell 1.61% to $11.63 in pre-market Wednesday, with some changes in after-hours trading.
CleanSpark drives AI shift with massive expansion move
The 2025 results were announced after CleanSpark's recent $1.15 billion zero-coupon convertible debt offering, which generated net proceeds of $1.13 billion and enabled the company to repurchase 30.6 million shares, representing approximately 10.9% of its outstanding shares, from participating investors for approximately $460 million.
According to CleanSpark, the remaining funds will be used for general corporate objectives, data center growth, power and land acquisition, and repayment of a Bitcoin-backed credit line.
CleanSpark last month hired former Humain executive Jeffrey Thomas as head of AI, joining a larger industry trend of Bitcoin miners modernizing their equipment for high-performance computing.reported Schultz said during Jeffrey Thomas' appointment that Thomas' hire will put the company at the forefront of a revolution in AI and intelligent computing.
According to press releasethe development of advanced AI data center infrastructure will diversify revenue streams and strengthen the company's long-term cash flow. Additionally, the AI data center will improve CleanSpark's ability to serve the world's top technology companies.
CleanSpark announced on October 29 that it has completed a long-term power supply agreement totaling 285 megawatts to fund the construction of a next-generation data center campus. A Bitcoin mining company has confirmed that it has purchased the rights to approximately 271 acres of land in Austin County, Texas.
