BlockBeats news, on May 12, according to official reports, CleanSpark reported Q1 revenue of $136.4 million, a 24.9% decline from $181.7 million in the same period last year. The net loss amounted to $378.3 million (basic loss per share of $1.52), compared to a net loss of $138.8 million in the same period last year. Adjusted EBITDA was -$241.2 million, compared to -$57.8 million in the same period last year.
As of March 31, 2026, the balance sheet shows that the company held $260.3 million in cash and had a Bitcoin holding value of $925.2 million (including current Bitcoin, non-current Bitcoin, and Bitcoin held by counterparties under collateral arrangements). Total current assets amounted to $1.1 billion, and total assets reached $2.9 billion. Total long-term debt (net of discount and issuance costs) was $1.8 billion, total liabilities were $1.9 billion, total shareholders’ equity was $1 billion, and working capital was $1 billion.
CleanSpark’s President and CFO, Gary Vecchiarelli, noted that the strong liquidity position not only supports the short-term execution plan but also preserves significant flexibility for future opportunities in AI/HPC and digital infrastructure, a direct result of the company’s long-term financial discipline.