CleanSpark posted a net loss of $378.3 million for the quarter ending March 31, more than double the prior year's figure, as a non-cash bitcoin adjustment weighed on results.
The U.S. bitcoin mining company said revenue fell 25 percent year over year to $136.4 million, missing analyst estimates. The loss equated to $1.52 per share, compared with the $138.8 million loss recorded in the same period last year. A $224.1 million non-cash fair value adjustment on bitcoin holdings accounted for most of the widening shortfall.
