CleanSpark Reports Record Revenue — Bitcoin Miners Eye Ethereum and Avalanche for Growth in 2025

The cryptocurrency market is closing the summer with major momentum as CleanSpark posts its most successful quarter ever, Ethereum smashes through $4,000, and Avalanche’s network activity hits record highs.

CleanSpark Hits Record $198.6M Revenue, Expands Bitcoin Treasury

CleanSpark (CLSK) has reported its strongest quarter to date, with revenue for Q3 hitting $198.6 million — a 91% jump from last year and above analyst expectations of $195 million. Net income soared to $257.4 million, a sharp reversal from a $236.2 million loss in the same period last year. Earnings per share came in at $0.78, far surpassing forecasts of $0.20.

CEO Zach Bradford credited the performance to the company’s strategic expansion, which included achieving a historic 50 exahashes per second operational hashrate, the first public miner to do so exclusively in the U.S. CleanSpark now manages 5.8% of the global hashrate and holds 12,703 BTC worth $1.48 billion, ranking ninth among public companies.

Despite these milestones, CLSK shares fell 2.5% on the day, with only a marginal after-hours bump. Year-to-date, however, the stock is up 16.4%, outperforming sector leader MARA Holdings, which is down 7%.

This strong quarter for CleanSpark comes amid a broader mining sector boom, driven by Bitcoin’s 32% price increase and record results from peers like MARA and Riot Platforms.

Ethereum Clears $4K as $105M in Shorts Liquidated

Ethereum surged past $4,000 for the first time in eight months, triggering $105 million in short liquidations — the largest among all cryptocurrencies in a single day.

High-profile traders, including Eric Trump, took aim at bearish sentiment, warning against betting against ETH. Analysts now watch the $4,100 resistance level as the trigger for a potential short squeeze toward $4,400–$4,500.

Avalanche Network Activity Hits All-Time High

AVAX is holding near $23 after rebounding from key support levels, buoyed by record-breaking network activity in July. The Avalanche blockchain processed 578.8 million transactions last month, up 19.8% from June. This surge in usage strengthens the bullish case for a breakout above $28, which could open the path toward $32–$35.

MAGACOIN FINANCE Update

MAGACOIN FINANCE , the community-owned crypto project, is continuing to develop its ecosystem with new initiatives designed to engage its user base as the project enters its next development phase.

Conclusion

With CleanSpark setting records, Ethereum building short-squeeze momentum, and Avalanche breaking activity milestones, the crypto market’s late-2025 rally narrative is heating up.