CLEANSPARK, INC. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: CleanSpark (CLSK) reported a net loss of $757.1M in Q1 2026, a dramatic reversal from $108.0M net income a year ago, driven by a massive surge in long-term debt (+178.6% YoY to $1.79B) and accelerating operating cash burn of $297.0M, while cash on hand more than doubled to $260.3M.
Drawn from management commentary in the Q1 2026 10-Q:
Operating income collapsed from +$72.0M in Q1 2025 to -$662.2M in Q1 2026, a deterioration of over $734M YoY (-1020.4%), signaling significant cost escalation or large non-cash charges (e.g., impairments or depreciation) that overwhelmed revenue-side performance.
D&A rose 53.1% YoY to $222.2M, up from $145.1M, indicating CleanSpark has been aggressively deploying capital into mining infrastructure, which is now flowing through the income statement as non-cash charges and pressuring reported earnings.
Long-term debt surged 178.6% YoY to $1.79B from $641.7M, while total liabilities jumped 151.4% to $1.93B, reflecting aggressive debt-financed expansion. This has caused stockholders' equity to fall 47.8% to $986.2M.
Cost of Revenue
$177.31M
++13.87% YoY
Operating Income
$-662.23M
-1020.38% YoY
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