KBW keeps ‘outperform’ rating and $14 target on CleanSpark after Q2 miss
Key takeaways
- Clean Spark’s net loss for the quarter ended March 31 widened to $378.3 million, or $1.52 per share, from $138.8 million, or $0.49 per share, in the year-earlier period.
- The company ended the quarter with $260.3 million in cash, bitcoin holdings valued at $925.2 million, and $2.9 billion in total assets against $1.8 billion in long-term debt.
- “Our balance sheet remains a core competitive advantage as we execute CleanSpark’s growth strategy,” President and CFO Gary Vecchiarelli said.
KBW keeps ‘outperform’ rating and $14 target on Clean Spark after Q2 miss Blockspace Staff Tue, May 12, 2026 at 8:38 PM GMT+7 2 min read CLSK BTC-USD Keefe, Bruyette & Woods maintained its “Outperform” rating and $14 price target on Clean Spark (NASDAQ: CLSK) after the bitcoin miner reported fiscal second-quarter 2026 revenue of $136.4 million, a 24.9% decline from $181.7 million a year earlier, and a wider net loss.
Clean Spark’s net loss for the quarter ended March 31 widened to $378.3 million, or $1.52 per share, from $138.8 million, or $0.49 per share, in the year-earlier period. Adjusted EBITDA fell to negative $241.2 million from negative $57.8 million. Shares dropped over 5% in after-hours trading Monday after the results missed consensus estimates, according to Yahoo Finance.
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