CleanSpark reported a net loss of $378 million in the second quarter, including a $224 million loss from its Bitcoin holdings.

CoinFeed reported on May 12th that, according to The Block, Bitcoin mining company CleanSpark released its Q2 financial report, showing a net loss of $378.3 million, a 173% increase from $138.8 million in the same period last year, including a $224.1 million loss on its Bitcoin holdings. The company held Bitcoin worth $925.2 million at the end of the quarter. Bitcoin mining revenue was $136.4 million, a 25% year-over-year decrease. CleanSpark is accelerating its transformation towards AI and high-performance computing infrastructure. CEO Matt Schultz stated that the company's goals include commercializing assets suitable for AI/HPC, expanding its investment portfolio, and continuing efficient mining to drive the transformation. Following the release of the financial report, CleanSpark's stock price fell 5% in after-hours trading.