CleanSpark, Inc. (Nasdaq: CLSK) operates at the intersection of Bitcoin mining and energy infrastructure. As the company expands rapidly, its growth affects not only the cryptocurrency industry but also broader energy markets and data-center economics. For example, a financial firm may analyse CleanSpark’s mining output as a forward indicator of energy-asset demand, while a regional utility could view its contracted power capacity as a stress test of grid integration. Scroll down to explore the full set of statistics and what they imply.
Editor’s Choice
- CleanSpark achieved an operational hashrate of 50 EH/s by June 2025, making it the first U.S. publicly-traded miner to hit that scale with fully self-operated infrastructure.
- The average fleet efficiency fell to 16.15 J/Th in June 2025, reflecting a significant improvement over earlier months.
- Bitcoin production reached 685 BTC in June 2025 alone, signalling strong output momentum.
- In Q3 FY 2025, the company reported $198.6 million in revenue, up about 91% year-over-year.
- The year-to-date return for CleanSpark stock was approximately +87.2% while outperforming many peers in 2025.
Recent Developments
- CleanSpark’s fleet efficiency metric improved to 16.07 J/Th by August 2025, marking better energy conversion per terahash.
- In September 2025, the company reported it grew its bitcoin treasury to over 13,000 BTC and achieved year-over-year increases of more than 27% in monthly production and 26% in fleet efficiency.
- The Q3 2025 investor presentation noted a cost-to-mine one bitcoin at approximately $44,806 for the quarter ended June 30.
- The company continues to expand its “immersion-cooled” mining data centres as part of its infrastructure upgrade strategy.
- CleanSpark expanded its hashrate expectation beyond 50 EH/s toward 60 EH/s and over, as part of its strategic growth pipeline.
CleanSpark Market Snapshot
- Stock Price: CleanSpark is trading at $21.09, reflecting an 8.02% daily gain.
- Market Cap: The company’s market capitalization stands at $5.6 billion, indicating its strong position among U.S.-listed Bitcoin miners.
- Trading Volume: In the past 24 hours, $6.5 million worth of CLSK shares were traded.
- Average Volume: The average daily trading volume is significantly higher at $807.2 million, showing strong market interest and liquidity.
- Open vs Close: The stock opened at $21.20 and closed at $21.09, showing a slight intraday correction despite a positive overall trend.
- Exchange Listing: CleanSpark is listed on the NASDAQ, reinforcing its public company status and investor accessibility.
Bitcoin Mining Output
- In April 2025, CleanSpark mined 633 BTC, with an average daily output of ~21.1 BTC.
- In May 2025, the mining output rose to 694 BTC.
- The highest single-day output in June reached 23.97 BTC.
- Average daily bitcoin production in June was 22.82 BTC.
- For May 2025, average daily production was ~22.39 BTC, with a single-day high of 23.50 BTC.
- As of March 2025, the average fleet efficiency resulted in around 22.78 BTC daily, monthly output was 706 BTC in March.
- Year-to-date bitcoin production stood at 5,296 BTC by August 2025.
Fleet Efficiency and Operational Metrics
- Average fleet efficiency improved to 16.15 J/Th by June 30, 2025.
- In April 2025, fleet efficiency was 16.98 J/Th, and the average operating hashrate was ~40.1 EH/s.
- In March 2025, fleet efficiency stood at 17.03 J/Th with an average hashrate of ~40.2 EH/s.
- Month-end operating hashrate reached 45.6 EH/s in May 2025.
- By August 2025, the deployed fleet count rose to 242,222 miners.
Power Capacity and Data Centers
- As of June 30, 2025, CleanSpark held 987 MW of contracted power capacity, with 808 MW actively utilized.
- The Company secured an additional 179 MW in June 2025, supporting incremental hashrate growth of 10 EH/s or more.
- In April 2025, the fleet deployed 204,770 miners, with 915 MW under contract.
- Monthly operating hashrate reached 50 EH/s via fully self-operated infrastructure by June 2025.
- The Company now boasts a portfolio of sites across more than 30 locations in Georgia, Mississippi, Tennessee, and Wyoming.
Regional Operations and Expansion
- CleanSpark’s regional footprint includes major operations in Georgia, Mississippi, Tennessee, and Wyoming.
- In March 2025, expansion in Tennessee included two data-center sites powered by 60 MW of capacity, expected to add ~4 EH/s.
- Wyoming site development is underway, with two additional phases expected to add ~2.5 EH/s in the quarter.
- Construction of an immersion-cooled site in Georgia contributed ~0.7 EH/s from a 12 MW deployment early in 2025.
- By August 2025, CleanSpark had entered or advanced power contracts in excess of 1 GW under development.
Strategic Acquisitions and Partnerships
- CleanSpark achieved 50 EH/s operational hashrate by June 2025, aiming for 60 EH/s and beyond with ongoing expansion plans.
- The company operates over 30 U.S. mining sites with fully self-owned infrastructure and vertically integrated control.
- CleanSpark secured an additional $100 million Bitcoin-backed credit facility with Coinbase Prime to expand energy and compute capacity.
- Bitcoin production increased by 27% year-over-year by September 2025, with fleet efficiency up by 26%.
- Bitcoin treasury grew to over 13,000 BTC, supporting CleanSpark’s strategic asset and growth financing.
- Partnership with Submer focuses on developing liquid-cooled AI data centers to deliver AI capacity at a gigawatt scale.
- The acquisition of GRIID Infrastructure added TVA-powered mining sites and strengthened CleanSpark’s sustainable energy footprint.
- CleanSpark emphasizes a non-dilutive growth strategy using minimal equity issuance amid strategic acquisitions and partnerships.
- Fiscal 2025 revenue reached approximately $379 million with an EBITDA of about $374 million, reflecting robust financial performance.
Shareholder Value and Stock Performance
- Q3 FY 2025 (ended June 30) revenue was $198.6 million, up ~91% YoY.
- Analysts raised the price target for CleanSpark stock from $21 to $23 in October 2025.
- CleanSpark reported a net margin of ~47.98% and a YoY revenue increase of ~90.8% in its most recent period.
- Over the past year, CleanSpark’s stock return outpaced the U.S. software industry average, 72% vs 29%.
- The company’s P/E ratio stood at 21.11, reflecting approximately 66.6% share growth over the prior 12 months.
Sustainability and Energy Efficiency
- CleanSpark reported more than 90% of its power mix from clean or low-carbon energy sources.
- Immersion cooling reduced e-waste and improved machine efficiency by as much as 85%.
- A reported average efficiency of 16.15 J/Th places CleanSpark among the most energy-efficient large miners in the U.S. public markets.
- The company’s immersion-cooled facilities in Georgia support higher uptime and reduced shipping/repair emissions.
- CleanSpark’s participation in utility demand-response programs aligns its operations with grid flexibility and reduced environmental impact.
- The model of mining and power procurement supports “spinning reserves” for grids with increasing renewable penetration.
- The company’s low-carbon energy and high-efficiency operations are clearly stated as a strategic focus.
Community Impact and Corporate Social Responsibility
- CleanSpark uses over 90% clean, low-carbon energy to power its Bitcoin mining and data centers.
- The company operates at more than 30 rural U.S. sites, investing in local infrastructure and workforce.
- CleanSpark’s mining operations achieved a 26% fleet efficiency increase year-over-year by 2025.
- Mining data centers participate in utility demand-response programs to support grid stability.
- The company has reduced power costs to $0.056 per kWh, among the industry’s lowest rates.
- CleanSpark’s ESG report highlights an 85% reduction in e-waste through immersion cooling innovations.
CleanSpark Balance Sheet Growth
- Total assets increased from $1.96 billion to $2.78 billion, reflecting a +41.6% expansion in overall holdings.
- Total liabilities surged by +275.4%, rising from $201.82 million to $757.71 million, signaling a large increase in obligations.
- Stockholders’ equity grew from $1.76 billion to $2.02 billion, posting a +14.8% improvement in shareholder value.
- Cash and equivalents more than doubled, jumping +128.2% from $121.22 million to $276.6 million, strengthening liquidity.
- Bitcoin holdings rose sharply by +115.3%, up from $431.66 million to $929.1 million, boosting CleanSpark’s crypto treasury.
- Current liabilities dropped significantly by -48.5%, declining from $187.9 million to $96.7 million, reducing near-term debt pressure.
- Long-term liabilities exploded from $7.2 million to $641.4 million, marking a dramatic +8,808% increase in long-term financial structuring.
Challenges and Risks
- CleanSpark’s revenue rose 91% year-over-year to $198.6 million in Q3 2025 amid operational risks.
- The company faces a potential $185 million tariff liability from U.S. Customs over alleged mining equipment misclassification.
- Bitcoin price volatility impacts CleanSpark’s mining economics with significant sensitivity to network difficulty changes.
- Global Bitcoin mining difficulty increased by about 65% year-over-year, challenging profitability and output.
- The firm’s $100 million Bitcoin-backed debt increases financial leverage and exposure to market fluctuations.
- Regulatory risks include potential changes in U.S. crypto laws, energy consumption limits, and permitting requirements.
- Maintaining uptime and cooling efficiency at over 1 GW power capacity and 50 EH/s scale remains operationally challenging.
Future Outlook and Growth Projections
- CleanSpark aims to move from its mid-2025 milestone of 50 EH/s operational hashrate toward 60 EH/s and beyond.
- Expansion of power contracts, data-centres, and compute capabilities will support growth through operational leverage.
- Market commentary projects $1.5 billion in revenue and $319 million in earnings by 2028, implying ~32.5% annual growth.
- Diversification into AI/data-centre infrastructure positions CleanSpark to capture adjacent high-growth compute markets.
- With 1 GW+ power capacity and over 30 operating sites, scaling is expected to drive margin improvement.
- The 2025–26 period may show accelerated accumulation of bitcoin treasury assets, improving balance-sheet optionality.
- Sustainability and energy-efficiency improvements to ~16.15 J/Th could further reduce per-bitcoin costs.
- Long-term growth depends on infrastructure build-out, power-contract stability, and competitive cost structure.
- Favorable regulatory or energy-market shifts could enable CleanSpark to capture grid-services revenue.
Frequently Asked Questions (FAQs)
About 5.8%.
Approximately $0.056/kWh.
50 EH/s.
9.6% month-over-month.
Conclusion
CleanSpark stands at a pivotal inflection point. With a refreshed leadership team, expanding compute and power infrastructure footprint, and a clear target, the company is mounting a strong growth narrative. At the same time, the complexity of scaling rapidly in a volatile bitcoin, energy, and regulatory environment means execution matters more than ever. Investors, community stakeholders, and industry watchers will be watching whether CleanSpark can translate infrastructure milestones into sustained value. As you explore the details above, you’ll gain a clearer picture of the statistics, opportunities, and potential risks facing this growing company.
