CleanSpark Inc. ( CLSK ) shares are trading lower Friday after the company reported its fiscal third-quarter 2025 results on Thursday.

What To Know: Despite record financial performance, the stock traded lower following the announcement.

For the quarter ended June 30, CleanSpark ( CLSK ) reported revenue of $198.6 million, up 91% from the same period last year. Net income came in at $257.4 million, or $0.90 per basic share, compared to a loss of $236.2 million,or $1.03 per share, a year earlier. Adjusted EBITDA rose sharply to $377.7 million from a negative $12.6 million in the prior-year quarter.

The company ended the quarter with 12,703 bitcoin held in its treasury, valued at over $1 billion, and more than 1 gigawatt of power under contract. CleanSpark ( CLSK ) also achieved 50 exahashes per second of operational hashrate in June, becoming the first public miner to reach that mark exclusively with American infrastructure.

CEO Zach Bradford highlighted that the company has not raised capital through equity offerings since November 2024 and continues to fully fund operations through monthly bitcoin production. CFO Gary Vecchiarelli noted the launch of a derivatives strategy under its Digital Asset Management team, which has started generating returns.

While the earnings results showed substantial year-over-year improvement and growth in bitcoin holdings, shares still moved lower on the day, reflecting investor reaction to the broader market environment and potentially profit-taking after recent gains.

CLSK Price Action: Cleanspark ( CLSK ) shares were down 5.55% at $10.13 at the time of writing, according to Benzinga pro.

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