Bitcoin miner Cleanspark reports $378M loss in Q2 amid bitcoin price swings and expansion efforts

Cleanspark posted a $378.3 million net loss in Q2 FY2026, largely due to a $224.1 million non-cash loss from bitcoin fair value changes. Revenue dropped 24.9% year-over-year to $136.4 million, impacted by bitcoin price volatility despite operational growth. The company expanded its mining capacity, doubling megawatts under contract and securing ERCOT approvals for new power projects. CEO Matt Schultz highlighted plans to commercialize AI and high-performance computing assets alongside bitcoin mining, while maintaining strong liquidity to support growth.