Small-cap cryptocurrency miner CleanSpark (NASDAQ: $CLSK) has reported first-quarter financial results that disappointed Wall Street, sending its stock lower as a result.  

The Bitcoin (CRYPTO: $BTC) mining company reported a net loss of $378.3 million U.S. for the quarter ended March 31, a steep increase from the $138.8 million U.S. loss reported a year ago. 

The loss of $1.52 U.S. per share was more than triple the analyst estimate of a $0.41 U.S. loss.

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The poor showing was due largely to a $224.1 million U.S. Bitcoin fair value loss, reflecting volatility in the cryptocurrency market.

Quarterly revenue totaled $136.4…