CleanSpark, a Nasdaq-listed Bitcoin mining company, reported $138 million in revenue for the third quarter of fiscal 2026, a 30.5% year-over-year decline from $198 million. The company also recorded a net loss of $239 million for the period, contrasting with a net income of $257 million in the same quarter last year. Its shares fell 5.5% on Thursday but rebounded 3% in pre-market trading on Friday.
The firm announced a 20-year data center lease with an undisclosed investment-grade global technology company, which is estimated to generate $6.6 billion in contracted revenue. The lease involves a 175-megawatt facility, marking CleanSpark’s expansion into AI and high-performance computing infrastructure.
The identity of the technology company remains undisclosed, though the lease is expected to provide long-term revenue stability. CleanSpark’s financial results highlight continued challenges in the Bitcoin mining sector, despite the strategic move into data center services.
Analysts noted the lease could offset short-term losses but cautioned that the company’s profitability remains uncertain without sustained growth in its core mining operations. The deal underscores growing demand for energy-efficient computing infrastructure amid AI sector expansion.
Written by Roger Slater
Technology Desk
