Bitcoin miner CleanSpark reported record quarterly revenue of $198.6 million, a 91% increase from the previous year, beating analyst expectations. The company also achieved a quarterly net income of $257.4 million and expanded its Bitcoin treasury to over $1 billion. CleanSpark is the first public mining company to reach 50 exahashes per second in the US.

CleanSpark’s shares dropped over 2.5% to $10.72 after the announcement of its impressive quarterly results. Despite this, the company’s stock has gained 16.4% since the beginning of 2025, outperforming sector leader MARA Holdings. CleanSpark currently holds 12,703 BTC worth around $1.48 billion, making it the ninth-largest holder of Bitcoin among public companies.

Bitcoin mining firms have had a successful quarter, with MARA Holdings and Riot Platforms reporting significant increases in revenue. MARA Holdings beat analyst expectations with revenues up 64% year-on-year to $238 million. Riot Platforms reported a record $219.5 million in net income for the period. The assets’ 32% appreciation in value over the period contributed to the success of Bitcoin miners.

Read more at Cointelegraph: CleanSpark Posts Record Revenue In Best Quarter Ever