CleanSpark, Inc. reported sharply weaker results for the quarter and six months ended March 31, 2026, as bitcoin price volatility and fair value accounting drove large losses despite substantial mining revenue. Bitcoin mining revenue was $136,408 (in thousands) for the quarter and $317,588 (in thousands) for the first half of the fiscal year, both below the prior-year periods.
The company recorded a quarterly net loss attributable to common shareholders of $408,343 (in thousands) and a six‑month net loss of $787,054 (in thousands), compared with income in the prior year. Loss on fair value of bitcoin totaled $470,939 (in thousands) for the six months. Basic loss per share was $1.52 for the quarter and $2.86 year‑to‑date.
CleanSpark ended March 31, 2026 with total assets of $2,913,501 (in thousands), including bitcoin with a fair value of $813,221 (in thousands) and cash, cash equivalents and restricted cash of $263,500 (in thousands). Total debt principal reached $1,822,210 (in thousands), largely from 2030 and 2032 convertible notes, while stockholders’ equity fell to $986,160 (in thousands) after treasury stock repurchases and losses. The company held 11,920 bitcoin as of March 31, 2026.
CleanSpark, Inc. reported weak second fiscal quarter 2026 results as bitcoin price movements and higher costs drove a much larger loss. Revenue from bitcoin mining was $136.4 million, down 24.9% from $181.7 million in the same quarter last year.
The company posted a net loss of $378.3 million, or $1.52 per basic share, compared with a net loss of $138.8 million a year ago. Results were heavily affected by a $224.1 million loss on fair value of bitcoin, increased depreciation and amortization of $115.9 million, and higher operating expenses.
Non-GAAP Adjusted EBITDA fell sharply to ($241.2 million) from ($57.8 million), showing significantly weaker underlying profitability. As of March 31, 2026, CleanSpark held $260.3 million in cash and $925.2 million of bitcoin HODL value, with working capital of $1.0 billion. Total long-term debt rose to $1.8 billion, while stockholders’ equity was $1.0 billion, reflecting a more leveraged balance sheet despite substantial digital asset holdings.
Cleanspark Inc ownership filing: Vanguard Capital Management reports beneficial ownership of 13,014,765 shares of Common Stock, representing 5.08% of the class. The filing shows sole voting power for 1,943,232 shares and sole dispositive power for 13,014,765 shares. The filing is signed on 04/29/2026.
Cleanspark Inc ownership filing: Dimensional Fund Advisors reports beneficial ownership of 14,102,777 shares of Common Stock, representing 5.5% of the class. The filing states Dimensional has sole voting power over 13,880,340 shares and sole dispositive power over 14,102,777 shares.
The filing notes these shares are owned by managed funds and Dimensional disclaims beneficial ownership of the funds' holdings.
CLEANSPARK, INC. director Amanda Cavaleri reported equity compensation activity. On March 31, 2026, 7,353 restricted stock units vested and were exercised into 7,353 shares of common stock at an exercise price of $0.00 per share. On March 9, 2026, she received a grant of 31,220 restricted stock units that vest in equal quarterly installments on June 30, 2026, September 30, 2026, December 31, 2026, and March 31, 2027. Following these transactions, she directly owns 121,995 shares of common stock.
CLEANSPARK, INC. director Roger Paul Beynon reported equity compensation activity involving restricted stock units (RSUs) and common shares. On March 9, 2026, he received an award of 31,220 RSUs, each representing one share of common stock. The award vests in equal quarterly installments on June 30, 2026, September 30, 2026, December 31, 2026, and March 31, 2027.
On March 31, 2026, 7,353 RSUs vested and were exercised into 7,353 shares of common stock at a price of $0.00 per share. Following these transactions, Beynon directly held 140,217 shares of common stock, along with a remaining RSU position tied to common stock.
CLEANSPARK, INC. director Thomas Leigh Wood reported compensation-related equity activity, centered on restricted stock units (RSUs) that convert into common shares.
On March 9, 2026, he received 31,220 RSUs, each tied to one share of common stock. Footnotes state these RSUs vest in equal quarterly installments on June 30, 2026, September 30, 2026, December 31, 2026, and March 31, 2027. On March 31, 2026, 7,353 RSUs vested and were exercised at $0.00, delivering 7,353 common shares. After these transactions, he holds 56,127 common shares directly and 60,196 shares indirectly through his spouse, reflecting routine equity compensation and vesting rather than open-market trading.
CLEANSPARK, INC. director Larry McNeill reported equity compensation activity involving restricted stock units (RSUs) and common stock. On March 9, 2026, he received a grant of 31,220 RSUs, each representing one share of common stock, with vesting in equal quarterly installments through March 31, 2027.
On March 31, 2026, 7,353 RSUs vested and were exercised into 7,353 shares of common stock at an exercise price of $0.00 per share. After these transactions, he directly holds 303,473 shares of common stock, 7,353 RSUs and 500,000 shares of Series A Preferred, all reported as direct ownership.
Cleanspark Inc Schedule 13G/A amendment reports that The Vanguard Group disaggregated its holdings after an internal realignment and now reports zero beneficial ownership in the issuer's Common Stock.
The filing states Amount beneficially owned: 0 and Percent of class: 0%; the filing includes a note that certain Vanguard subsidiaries began reporting separately following an internal realignment dated January 12, 2026.
CLEANSPARK, INC. CEO and Chairman S. Matthew Schultz reported new equity compensation awards. He received a grant of 640,000 Restricted Stock Units and two grants of Performance Stock Units covering 480,000 and 1,816,000 underlying shares of common stock, all at a stated price of $0.00 per unit as compensation, not open-market purchases.
The RSUs vest over multiple years, including equal annual installments on March 20, 2027, March 20, 2028, and March 20, 2029, conditioned on continued employment. The performance awards vest only if share-price and operational targets are met, such as a common stock market price of at least $18.80 based on a 20‑trading‑day average by March 20, 2027, or higher targets up to $94 per share before September 30, 2030, along with power-capacity goals.
Following these awards, Schultz also holds employee stock options exercisable for 400,000 common shares at an exercise price of $23.00 per share expiring in 2031, various existing RSU positions, and direct and indirect common stock holdings including shares held by an irrevocable trust and his spouse.