CleanSpark, Inc. (CLSK) Earnings Call Transcripts

CleanSpark, Inc.'s Latest Earnings Call - Q2 FY2026

In CleanSpark's Q2 2026 earnings call, the company reported a revenue of $136 million, a 25% decline from the previous quarter, primarily due to a drop in Bitcoin prices. The net loss remained stable at approximately $378 million, influenced by noncash charges related to Bitcoin. Management emphasized their strategic pivot towards AI and high-performance computing (HPC) infrastructure, highlighting a robust pipeline of contracted power capacity totaling 1.8 gigawatts and ongoing negotiations with high-quality tenants. CleanSpark maintained a healthy gross margin of over 40% despite the challenging market conditions, signaling resilience and operational efficiency.

Reported metrics

Guidance from management

Management did not provide specific numerical guidance for the upcoming quarters but indicated a strong pipeline and ongoing negotiations with high-quality tenants, suggesting optimism for future revenue growth.

What management said

No, I don't -- Brett, first of all, thanks for the question. It was good to connect with you at the Bitcoin conference. So it doesn't change the timing whatsoever. The assets are -- they have value individually and independent of one another. I think for us, first prize is having the right credit quality tenant that has interest across the portfolio. So it doesn't change timing. I feel really good about where we are ...

Yes. I think that these are going to be really in line from a build and deploy perspective. But what we're looking to be able to do is create an offering that's going to have the best total cost of ownership for the client over multiple refresh cycles. So there's a component of this that's fundamentally grounded in future proofing because we want to be able to meet their needs as effectively as possible. that means d...

What analysts pressed on

Analysts expressed concerns regarding the impact of declining Bitcoin prices on revenue and margins, as well as the pace of tenant negotiations for new leases. There were questions about the sustainability of cash flows amid market volatility and the execution of their strategic pivot to AI and HPC.

Main topics on the call

• Strategic Shift to AI and HPC — Management underscored a significant transition towards AI and HPC infrastructure, stating, "We are in the midst of a technology wave... it has a larger potential total addressable market." This shift is expected to enha...
• Revenue Decline — CleanSpark's revenue decreased by 25% quarter-over-quarter to $136 million, attributed to a lower average Bitcoin price of $76,000. CFO Gary Vecchiarelli noted, "We mined 1,799 Bitcoin, which was only 22 Bitcoin less tha...
• Power Capacity Expansion — The company reported 1.8 gigawatts of contracted power capacity, with ongoing projects in Sandersville and Brazoria. Management highlighted, "We added 25 megawatts of contracted capacity to one of our Metro Atlanta locat...
• Liquidity Position — CleanSpark's liquidity remains strong with approximately $1.2 billion available, including $260 million in cash and 13,561 Bitcoin valued at $925 million. This robust liquidity supports future growth initiatives and capi...

Read the full CleanSpark, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 20 CleanSpark, Inc. earnings call transcripts on record, spanning December 14, 2021 to July 14, 2026. Based on this history, CleanSpark, Inc. reports quarterly. The most recent call on file is dated July 14, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CLSK

Exchange

NasdaqCM

Country

US

Sector

Information Technology

Industry

Software

Calls on record

20

First call

December 14, 2021

Most recent

July 14, 2026

Reporting cadence

quarterly