Key takeaways
- CleanSpark shares soared about 14% on Thursday.
- CleanSpark reported an annual revenue increase of 102%, reaching $766 million for fiscal 2025.
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CleanSpark stock soared nearly 14% to close Thursday at $13.45, outperforming most crypto stocks after the company reported a sizable increase in fiscal 2025 revenue, reaching $766 million and representing 102% year-over-year growth.
The company also saw a 43% increase in contracted power, establishing a solid foundation for future AI expansions. CleanSpark recently secured a $1.15 billion 0% convertible transaction to fuel further infrastructure development.
The booming performance was supported by reaching 50 EH/s in operational hashrate and the implementation of strategic financial instruments such as Bitcoin-backed financing options. These advancements establish CleanSpark’s transition into a major AI computing platform alongside its Bitcoin mining operations.
“Beyond our $766 million in revenue and hashrate growth achievements, we have also demonstrated disciplined capital investments and are financially positioned to quickly become a leading provider of AI infrastructure,” said Gary Vecchiarelli, President and CFO of CleanSpark.
A few other Bitcoin mining companies also posted gains today.
Cipher Mining shares jumped about 9%. The Nasdaq-listed miner recently struck a landmark deal with AI cloud startup Fluidstack. Google is backing $1.4 billion in Fluidstack lease obligations and has been granted options to acquire 5.4% of Cipher Mining’s shares.
Bitfarms, which announced this month that it would end its mining operations and shift to AI infrastructure, saw its stock rise about 12% at the market close.
