CleanSpark's Q3 financial report is impressive: net profit reaches $364.5 million, accelerating the transition to AI infrastructure.

Bitcoin miner CleanSpark announced its fiscal year results for the period ending September 30, 2025, achieving revenue of $766.3 million, a year-on-year rise of 102%, with a net profit of $364.5 million, compared to a net loss of $145.8 million in the same period last year. Adjusted EBITDA increased from $245.8 million to $823.4 million, indicating a significant improvement in the company's operational leverage.

CEO Matt Schultz stated that the fiscal year 2025 marks a breakthrough in CleanSpark's operational capabilities and financial performance, with the company's operational hash rate exceeding 50 EH/s and setting a new revenue record. The company has provided capital support for business expansion through convertible bonds and Bitcoin-backed revolving credit financing, rather than traditional ATM plans.

In terms of artificial intelligence strategy, CleanSpark has hired former Humain executive Jeffrey Thomas to lead the AI data center department, planning to transform the Georgia mining site to support high-performance computing while evaluating the “super park” project to meet AI growth demands. President and CFO Gary Vekiarrelli stated that the company is rapidly transforming into a leading AI infrastructure provider with a strong financial position.

Previously, CleanSpark completed a $1.15 billion zero-coupon convertible bond issuance, with a net gain of $1.13 billion, used for repurchasing 30.6 million shares (approximately $460 million) and investing in power, land, and data center development. The company's balance sheet shows it holds Bitcoin worth $1.2 billion, cash of $43 million, mining assets of $950.1 million, total assets of $3.2 billion, shareholders' equity of $2.2 billion, total liabilities of $1 billion, and long-term debt of $644.6 million.

As of September, CleanSpark's Bitcoin holdings exceeded 13,000 coins, ranking among the top ten public companies. Schultz stated that this fiscal year is an “exciting new chapter,” and the company is unlocking more value through its energy mix and expansion plans. (The Block)