CleanSpark misses Wall Street revenue estimates as shares sink
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- CleanSpark reported $138 million in Q3 fiscal 2026 revenue, down 30.5% from $198 million a year earlier, missing analyst consensus of $142.2 million.
- CleanSpark swung to a $239 million net loss ($0.89 per basic share) for the quarter ended June 30, reversing $257 million in net income ($0.90 per share) in the year-ago period.
- CleanSpark shares fell 5.5% on Thursday following the report but staged a 3% pre-market recovery Friday, trading above $13.10.
- CleanSpark is pivoting beyond Bitcoin mining into AI and high-performance computing, signing a 20-year lease on July 14 for a 175-megawatt data center at its Sandersville, Georgia campus with an undisclosed investment-grade global technology company.
- CleanSpark estimates the Sandersville data center lease will generate $6.6 billion in contracted revenue over its initial term.
Why it matters: CleanSpark's 30.5% revenue collapse and $239 million net loss underscore the squeeze on standalone Bitcoin miners, with the stock punishing the miss even as the company bets its future on a $6.6 billion AI infrastructure pivot that dwarfs its current quarterly top line.
