CleanSpark (CLSK) shares gained 3.1% in Tuesday after-hours trading after the bitcoin (BTC-USD) miner and AI infrastructure provider turned in a profit for fiscal-year 2025, albeit softer than expected.
FY25 GAAP EPS of $1.12, trailing the $1.56 average analyst estimate, jumped from -$0.69 in 2024 and -$1.30 in 2023.
Total net revenue of $766.3M for the year ended Sept. 30, 2025, also missing the $774.6M consensus, surged from $379.0M in the prior year and $168.4M in 2023.
“Fiscal 2025 was the year CleanSpark (CLSK) achieved operating leverage,” Chairman and CEO Matt Schultz said in a statement. “We surpassed 50 [exahashes per second] in operational hashrate, set new revenue records, and demonstrated strategic capital stewardship by choosing accretive capital market tools, such as convertible debt and bitcoin backed revolvers instead of an ATM to finance the business during the calendar year.”
Adjusted EBITDA was $823.4M, up from $245.9M in 2024 and $25.0M two years earlier.
The company held $1.2B worth of bitcoin (BTC-USD) and $43.0M cash on its balance sheet as of Sept. 30, 2025.
Conference call at 4:30 p.m. ET.