THE MINING POD: CleanSpark FY 2025 Recap: It's Not an AI Pivot, It's an Expansion w/ Matthew Schultz

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4.8 • 689 Ratings

🗓️ 2 December 2025

⏱️ 52 minutes

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Summary

CleanSpark CEO Matt Schultz joins us to discuss CleanSpark’s fiscal year 2025 earnings. Subscribe to the Blockspace newsletter for market-making news as it hits the wire! 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. Subscribe to the newsletter! https://newsletter.blockspacemedia.com **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 👉CleanSpark, America's Bitcoin Miner! CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world. 👉 FBOX, Cooling for Bitcoin Mining and the AI Data Center Transformation FBOX is the global leader in cooling system manufacturing, with the #1 shipment volume of bitcoin mining containers worldwide. Not only powering for the strongest hashrate, their technology also helps mining infrastructure transform into AI data centers. Backed by the largest production scale on earth, global deployment capability, and a full range of cooling solutions, they are shaping the future of compute. 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

Transcript

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0:00.0	consistently across the space, the vast majority of the miners have said we're not going to
0:04.5	grow our fleet, we're not going to refresh the fleet, we're not going to focus anymore on Bitcoin
0:09.2	mining. And, you know, there's some OG miners that have said, hey, we're going to be a data
0:14.6	center company and we're going to phase out Bitcoin. You know, we've been very clear.
0:18.9	Our efficiency of operations really separates us from everybody else.
0:24.5	Using Bitcoin mining is absolutely an invaluable tool.
0:28.2	You know, I got in a little bit of hot water because I said on CNBC the name of a
0:31.7	hyperscaler that we actually beat out for a contract in Cheyenne.
0:34.7	And they frowned on that.
0:36.4	But the point is, there's a trillion
0:38.3	dollar hyperscaler that was bidding for 100 megawatts and there's a Bitcoin miner that's bidding
0:43.2	for the same 100 megawatts. And we want. And the reason we prevailed is because we told the utility
0:48.4	we'll start buying that power in six months no matter what. And a hyperscaler, building a proper
0:53.3	campus is going to be a couple, two, three years. So you think about the millions of dollars in lost revenue and you can't store that power. If it's available now, they want to monetize it for the benefit of the utility, for the benefit of the community. So Bitcoin mining is absolutely mission critical to secure those power contracts, to monetize those megawatts, and then to build a
1:11.3	proper data center behind that, then you can re-energize the data center and repurpose the Bitcoin
1:15.9	money.
1:18.3	CleanSpark is coming off of its hottest year yet.
1:21.5	It reported 76 million in revenue for the fiscal year 2025.
1:27.3	And so for today's show, we have none other than CleanSpark's CEO Matthew Schultz on to talk about the fiscal year 2025 results, as well as CleanSpark's AI expansion and where we might expect to see an AI and HBC site in addition to the one they were building in Austin County, Texas. You're listening to the mining pod brought to you by Clean Spark, and we will be right back.
1:47.5	Guys, there is a serious problem right now in Bitcoin mining, and we need to talk about it.
1:51.8	You need to pay attention to this. Bitcoin miners are identifying as AI companies, and people
1:57.3	keep mis-sectoring them because they say, well, look, your infrastructure is clearly
	...

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