CleanSpark posts $378.3M net loss in Q2

Bitcoin miner CleanSpark recorded a net loss of $378.3 million in the second quarter, a 173% increase from the $138.8 million loss in the same period last year, The Block reported. This loss includes a $224.1 million impairment charge on its Bitcoin (BTC) holdings. As of March 31, the company's BTC holdings were valued at approximately $925.2 million. During the same period, Bitcoin mining revenue fell by about 25% year-over-year to $136.4 million. CleanSpark has also been accelerating its expansion into the artificial intelligence (AI) and high-performance computing (HPC) infrastructure business, in line with recent industry trends.