CleanSpark Inc. (CLSK) delivered solid fiscal 2025 results Tuesday evening, showing the kind of growth that happens when Bitcoin mining goes from niche operation to mainstream infrastructure play.
The Numbers: Revenue hit $766.3 million for the full year, up from $379 million in fiscal 2024—that's a 102% jump if you're keeping score. More impressively, the Bitcoin (BTC) miner swung from a loss of 69 cents per share last year to earnings of $1.25 per share this year. Adjusted EBITDA climbed to $823.4 million from $245.8 million.
As of September 30, CleanSpark was sitting on $43 million in cash and $1.2 billion worth of Bitcoin. The company also announced $1.15 billion in financing earlier this month to bulk up its power and land portfolio—because if you're going to run massive computing operations, you need the real estate and electricity to match.
The Strategic Shift: Here's where things get interesting. CleanSpark isn't just talking about mining Bitcoin anymore. CEO Matt Schultz made it clear the company is positioning itself as something bigger: "We are evolving into a comprehensive compute platform that is prepared 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 demand for compute."
Translation? CleanSpark wants to be ready when AI companies come knocking, looking for the same kind of massive computing power that Bitcoin miners have spent years building out.
CleanSpark executives planned to discuss the results further on an earnings call at 4:30 p.m. ET. Shares ticked up 0.34% to $11.86 in after-hours trading Tuesday.
