10-K: FY2025 Annual Report

CleanSpark Inc. delivered exceptional financial results for fiscal year 2025, posting net income of $364.5 million compared to a loss of $145.8 million in FY2024. Revenue surged 102% to $766.3 million, driven by increased bitcoin mining capacity reaching 45.6 EH/s and higher bitcoin prices averaging $97,337. The company held 10,428 bitcoins valued at $1.19 billion as of September 30, 2025.The company significantly expanded its operations through strategic acquisitions and infrastructure development, including the GRIID Infrastructure merger and new facilities across Georgia, Tennessee, Mississippi and Wyoming. Total contracted power capacity reached 1,027 MW, while mining efficiency improved to 16.7 W/TH. CleanSpark also launched institutional-grade bitcoin treasury management and entered the AI/HPC data center market.Looking ahead, CleanSpark is diversifying into AI and HPC infrastructure, acquiring property in Texas with 285 MW power agreements for next-generation data centers. The company strengthened its balance sheet by issuing $650 million in convertible notes and establishing bitcoin-backed credit facilities. Management expects continued growth through infrastructure expansion and strategic initiatives in both bitcoin mining and data center operations.

CleanSpark Inc. delivered exceptional financial results for fiscal year 2025, posting net income of $364.5 million compared to a loss of $145.8 million in FY2024. Revenue surged 102% to $766.3 million, driven by increased bitcoin mining capacity reaching 45.6 EH/s and higher bitcoin prices averaging $97,337. The company held 10,428 bitcoins valued at $1.19 billion as of September 30, 2025.The company significantly expanded its operations through strategic acquisitions and infrastructure development, including the GRIID Infrastructure merger and new facilities across Georgia, Tennessee, Mississippi and Wyoming. Total contracted power capacity reached 1,027 MW, while mining efficiency improved to 16.7 W/TH. CleanSpark also launched institutional-grade bitcoin treasury management and entered the AI/HPC data center market.Looking ahead, CleanSpark is diversifying into AI and HPC infrastructure, acquiring property in Texas with 285 MW power agreements for next-generation data centers. The company strengthened its balance sheet by issuing $650 million in convertible notes and establishing bitcoin-backed credit facilities. Management expects continued growth through infrastructure expansion and strategic initiatives in both bitcoin mining and data center operations.