CleanSpark Misses Wall Street Revenue Estimates, Shares Tumble
AI News Flash: CleanSpark’s Q3 earnings missed Wall Street expectations, sending shares down 5.5% on Thursday. The Nasdaq-listed bitcoin miner reported fiscal Q3 (ended June 30) revenue of $138 million, down 30.5% year-over-year from $198 million a year earlier, and also slightly below the $142.2 million consensus estimate compiled by Yahoo Finance. Profitability worsened too, with the company posting a net loss of $239 million and a basic loss of $0.89 per share, a sharp reversal from net income of $257 million and earnings of $0.90 per share in the same quarter last year.