CleanSpark Inc., a prominent U.S.-based Bitcoin mining company, recorded a significant revenue surge of 62.5% in the second quarter of fiscal 2025, reaching $181.7 million. However, despite this impressive growth, CleanSpark reported a net loss of $138.8 million for the same period, translating to a per-share loss of $0.49. This marked a contrast to the company’s net income of $126.7 million and a per-share profit of $0.59 in the corresponding quarter last year. 50 exahashes per second (EH/s) is CleanSpark’s target, aiming for completion by June 2025. CEO Zach Bradford emphasized the company’s dedication to scaling operations and expanding its Bitcoin holdings without resorting to issuing additional shares. CleanSpark achieved a total of 1,957 Bitcoins during Q2, averaging $92,811 per coin in revenue. This robust financial picture is supported by a strong balance sheet with $97 million in cash and nearly $980 million in Bitcoin holdings, totaling assets worth $2.65 billion and shareholder equity of $1.9 billion.