CLSK Shares Decline After Hours On Disappointing Q1 Earnings

The data center developer company on Thursday reported an adjusted core loss of $295.4 million, compared to the profit of $321.6 million recorded in the corresponding period a year ago.

• Quarterly revenue came in at $181.2 million, marking an increase of 11.6% year-over-year, but below an analyst estimate of $187.73 million. 
• The company ended the quarter with total assets of $3.3 billion, including $1.0 billion bitcoin and $867.4 million in mining assets.
• The CEO said that the company’s bitcoin mining operations continue to generate durable cash flows which are being redeployed into infrastructure opportunities.

Shares of CleanSpark, Inc. (CLSK) fell over 9% after-hours on Thursday after the company reported an increase in losses for the first quarter of 2026.

The data center developer reported an adjusted core loss of $295.4 million, compared to the profit of $321.6 million recorded in the corresponding period a year ago. Wall Street on average was expecting adjusted core profit of $70.44 million, according to data from Fiscal AI.

Quarterly revenue came in at $181.2 million, marking an increase of 11.6% year-over-year, but below an analyst estimate of $187.73 million.

The company ended the quarter with total assets of $3.3 billion, including $1 billion bitcoin and $867.4 million in mining assets. The company further had working capital of $1.3 billion as of the end of Q1.

Executive Take

"CleanSpark exited the quarter with one of the strongest balance sheets in our sector and a power and land portfolio that is increasingly scarce," said Matt Schultz, CleanSpark's CEO and Chairman.

"We strengthened our financial foundation, secured up to 890 megawatts of high-quality utility potential capacity in the Houston region, and materially advanced our Sandersville site with the acquisition of an additional 122-acre parcel as we progress toward AI tenancy,” he added.

The CEO further noted that the company’s bitcoin mining operations continue to generate durable cash flows which are being redeployed into infrastructure opportunities.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around CLSK stock fell from ‘bearish’ to ‘extremely bearish’ territory over the past 24 hours, while message volume rose from ‘low’ to ‘high’ levels.

A Stocktwits user opined that the stock might rally once Bitcoin prices soar.

CLSK stock has fallen 20% over the past 12 months. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<