Bitcoin Miner Cleanspark reported its best quarterly results, with its highest expectations of income and profitability that beat analysts’ expectations.
Cleanspark said Thursday that his revenues for his third quarter from April to June were $ 198.6 million, an increase of 91% compared to his $ 104 million in revenues in the same quarter a year ago, beating the expectations of analysts of around 195 million dollars.
“It was the most successful neighborhood in the history of Cleanspark, and that reflects the strength of our strategy,” said Cleansksks CEO Zach Bradford.
The company also declared a quarterly net profit of $ 257.4 million, against a loss of $ 236.2 million the previous year. Its profit diluted by action was 78 cents, exceeding the expectations of analysts of around 20 cents per share.
“The tax Q3 was a hinge quarter for Cleanspark, because we have fully funded operational expenses thanks to the monthly production of Bitcoin while simultaneously expanding our Bitcoin Treasury,” said its financial director, Gary Vecchiarelli.
First company to cross the milestone of Hashrate
Cleanspark also claimed to be the first company in public mines to carry out 50 exams per second in the United States and to have 5.8% of the world’s Hashrate under management.
“We reached 50 eh / s of operational hash in June, becoming the first public company to do so exclusively with American infrastructure,” said Bradford.
The company has expanded its Bitcoin Treasury (BTC) to more than a billion dollars, without the need to raise capital thanks to equity offers in 2025.
Cleanspark currently holds 12,703 BTC worth around $ 1.48 billion at current market prices, making it the ninth Bitcoin holder among public companies.
The results fail to court investors
Cleanspark’s shares (CLSK) finished negotiations on Thursday dropped by more than 2.5% to $ 10.72 and saw only a slight bump after hours that were cooled at a gain less than 1%.
Crypto Miner’s shares have won 16.4% since the start of 2025, making better than the head of the Mara Holdings sector, who is down more than 7% this year.
In relation: Iren rises to 11% after having exploited more bitcoin than Mara in July
Large district for bitcoin minors
Bitcoin extraction companies had an exceptional district, mainly due to the value of 32% of assets during the period.
At the end of July, Mara Holdings beat analysts’ expectations in its second quarter results with revenues up 64% in annual shift for $ 238 million.
Meanwhile, Riot Platform declared a record of $ 219.5 million in net profit for the period.
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