Important takeaways
- Shares of CleanSpark climbed around 14% on Thursday.
- CleanSpark reported annual revenue growth of 102%, reaching $766 million for fiscal year 2025.
CleanSpark stock soared nearly 14% to close Thursday at $13.45, outperforming most crypto stocks after the company reported a huge increase in revenue for fiscal 2025, reaching $766 million and representing 102% year-over-year growth.
The company also saw a 43% increase in contracted power, setting a robust foundation for future AI expansion. CleanSpark recently secured a $1.15 billion 0% convertible transaction to drive further infrastructure development.
The booming performance was supported by achieving 50 EH/si operational hashrate and implementing strategic financial instruments such as Bitcoin-backed financing options. These advances establish CleanSpark’s transition towards becoming a major AI computing platform alongside its Bitcoin mining operations.
“In addition to our $766 million in revenue and growth performance, we have also demonstrated disciplined capital investment and are financially positioned to rapidly become a leading provider of AI infrastructure,” said Gary Vecchiarelli, President and Chief Financial Officer of CleanSpark.
A few other Bitcoin mining companies also posted gains today.
Cipher Mining shares rose about 9%. The Nasdaq-listed miner recently secured a landmark deal with AI cloud startup Fluidstack. Google stands behind $1.4 billion of Fluidstack’s lease commitments and has been granted options to acquire 5.4% of Cipher Mining’s shares.
Bitfarms, which announced this month that it would wind down its mining operations and switch to AI infrastructure, saw its stock soar by around 12% at the close.