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CleanSpark's Q2 Loss: AI Pivot Amid Crypto Volatility
Published 2 weeks ago
Description
CleanSparks fiscal Q2 results show a significant net loss of $378 million, more than double last years loss, with $224 million from Bitcoins price drop. Revenue dipped to $136 million, but they increased their Bitcoin holdings by 14% and hashrate by 18% YOY. Shares plummeted, and the company is now pivoting into AI and high-performance computing, aiming to transform their assets into cash flow.
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