CleanSpark reported a 30.5% year-over-year revenue decline and a $497.2 million swing from profit to loss in its fiscal third-quarter results.
Revenue fell to $138.0 million from $198.6 million for the three months ended June 30. Over the same period, a $257.4 million profit became a $239.8 million loss.
The deterioration adds pressure to the Bitcoin miner's balance sheet before its Sandersville AI lease can contribute, with the first phased deliveries not expected until the fourth quarter of 2027.
