Why CleanSpark Stock Was a Monster Winner on Wednesday

CLSK +13.79% BTC-USD -0.15%

Key Points

• The Bitcoin miner published its fiscal 2025 results.

• It more than doubled its revenue, and flipped to a net profit.

• 10 stocks we like better than CleanSpark ›

What a difference a day can make in the cryptocurrency world. On Wednesday, following a several days-long rout, digital coins and tokens staged an impressive comeback. Swept along with this were a great many cryptocurrency stocks.

Happily for CleanSpark (NASDAQ: CLSK) and its investors, the eagerly diversifying Bitcoin (CRYPTO: BTC) miner was among these titles. Fueled by the general crypto sentiment, plus an encouraging earnings report, the company's shares notched a nearly 14% price gain on the day.

Big gains in 2025

Just after market close Tuesday, CleanSpark published its full-year fiscal 2025 results, which it described as "transformative."

That's hype, but still the company posted some encouraging numbers. The year saw it collect just over $766 million in revenue, which was double and then some the $379 million of the previous annual figure. Net income according to generally accepted accounting practices (GAAP) was $364.5 million ($1.25 per share), quite an improvement over the 2024 loss of $145.8 million.

Although it's making a concentrated push deeper into the data center segment, CleanSpark is still heavily associated with its Bitcoin mining operations. The company reported it held $1.2 billion worth of the coin at the end of fiscal 2025.

A good day to release good news

Timing was definitely on CleanSpark's side on Wednesday, as Bitcoin blasted higher that morning, vaulting above the $90,000 level in the afternoon and (as of this writing, at least) staying there. Many crypto-heads clearly felt the leading coin (and others) were oversold and piled in, while hopes keep rising for a Federal Reserve (Fed) rate cut next month; such adjustments usually benefit cryptos.

While CleanSpark's results were impressive in many ways, to me, the jury is still out on its diversification efforts. Other cryptocurrency companies are making similar moves to expand their data center businesses, and so far, it's too early to judge which ones will be successful and to what extent. Given that, I think CleanSpark is a stock for dedicated crypto bulls only.

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Eric Volkman has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

Why CleanSpark Stock Was a Monster Winner on Wednesday was originally published by The Motley Fool