CleanSpark, Inc. (CLSK) shares experienced a 24-hour plunge of 8.41%, with significant pressure occurring in post-market trading on Thursday.

The sharp decline followed the company's release of disappointing first-quarter fiscal 2026 results. CleanSpark reported a loss of $1.35 per share, dramatically missing analyst estimates for a loss of $0.15 per share. Revenue of $181.18 million also fell short of the $195.54 million consensus. Furthermore, the company's adjusted EBITDA was a loss of $295.4 million, a severe miss compared to the expected profit of $75.1 million.

The negative sentiment was compounded by a broad selloff in cryptocurrency markets. Bitcoin plummeted below $60,000, erasing gains and triggering widespread instability. As a Bitcoin mining company, CleanSpark's stock is particularly sensitive to such market movements, leading to increased selling pressure alongside other crypto-related equities.