PANews reported on May 12th that, according to The Block, Bitcoin mining company CleanSpark released its Q2 financial report, showing a net loss of $378.3 million, a 173% increase from $138.8 million in the same period last year. The company's Bitcoin holdings resulted in a loss of $224.1 million. At the end of the quarter, the company held Bitcoin worth $925.2 million. Bitcoin mining revenue was $136.4 million, a 25% decrease year-over-year.

CleanSpark is accelerating its transformation into AI and high-performance computing infrastructure. CEO Matt Schultz stated that the company's goals include commercializing assets suitable for AI/HPC, expanding its investment portfolio, and continuing efficient mining to drive the transformation. Following the earnings release, CleanSpark's stock price fell 5% in after-hours trading.