CleanSpark FY 2025 Recap: It's Not an AI Pivot, It's an Expansion w/ Matthew Schultz
The Mining Pod | Blockspace Media
Greenfield, Retrofit, and Hybrid Approaches
Schultz contrasts greenfield builds with retrofits, explaining when conversions work and when they don't.
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Welcome back to The Mining Pod! Today, Matthew Schultz, CEO of CleanSpark, joins us to talk about CleanSpark'sfiscal year 2025 earnings. CleanSpark raked in $766M in revenue for the year, hit the 50 EH/s milestone, and has begun expanding into AI loads. Schultz shares insights on CleanSpark’s partnerships with Submer for cooling solutions, the company’s capital strategy, the potential for hybrid mining-HPC loads at CleanSpark sites, and what the AI revolution means for bitcoin mining in the United States.
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**Notes:**
• $766M in FY 2025 revenue
• LEadership change refocused company
• Austin Texas site underway
• AI load feasibility being explored for Sandersville, other sites
• $1.15B convertible note almost over subscribed
Timestamps:
00:00 Start
03:15 Overview of fiscal year
07:16 Leadership change
09:43 Texas site development
13:41 Submer cooling solutions partner
18:30 Containerized solutions
21:39 Green field vs retrofit
27:23 Blended AI & mining sites
30:50 Two business lines
36:11 $1.15B note
45:19 Evaluating operators
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CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner®, is a market-leading Bitcoin miner with a proven track record of success. They own a fully self-operated portfolio of mining facilities across the U.S. powered by globally competitive energy prices. CleanSpark sits at the intersection of Bitcoin, energy, operational excellence and capital stewardship. Optimally monetizing low-cost, high reliability electricity positions them to prosper in an ever-changing world.
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