CleanSpark Q1 revenue rises

CleanSpark

05/02/2026 21:13

Overview

Data center developer's Q1 revenue rose 11.6% yr/yr to $181.2 mln

Adjusted EBITDA for Q1 missed analyst expectations

Company expands AI infrastructure and power capacity in Texas and Georgia

Outlook

Company focuses on creating multiple revenue streams through infrastructure platform

CleanSpark leverages bitcoin mining cash flows for long-duration infrastructure investments

Result Drivers

BITCOIN MINING - CleanSpark's bitcoin mining operations generated significant cash flow, supporting long-term infrastructure investments

POWER CAPACITY EXPANSION - Co secured up to 890 MW of new utility-grade power capacity in Texas and Georgia

AI INFRASTRUCTURE - Co expanded its AI-ready site portfolio as part of diversifying revenue streams

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Bitcoin Mining Revenue
$181.18 mln
Q1 Net Income
-$378.71 mln
Q1 Adjusted EBITDA
Miss
-$295.40 mln
$75.10 mln (11 Analysts)
Q1 Operating Income
-$316.55 mln
Q1 Pretax Profit
-$410.13 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

Wall Street's median 12-month price target for CleanSpark Inc is $24.00, about 134.8% above its February 4 closing price of $10.22

Press Release: ID:nPn7BtF57a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)