Cleanspark Inc

Finance Services

CLSKStrained6 of 11 basics passed

$10.49

-1.27%

Market cap $2.70B

$10.49

-1.27%

Market cap $2.70B

Cleanspark Inc. is a data center developer that, until recently, focused exclusively on bitcoin mining. The company provides scalable, energy-efficient digital infrastructure across the United States.

It is a $2.70B financial services company. Revenue grew 102.9% over the last year, and it currently loses money.

Website: cleanspark.com
Location: Henderson, NV
Employees: 314
Sector: Financial Services

Share price · 3 years

$3.75 → $10.49+179.9%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $181M
Loss: spends more than it earns; -$998M
Free cash flow: cash left after running the business; -$609M
P/E: years of profit in the price; 7.4
Dividend: pays out 3% of profit; 1.34%
Shares: up 1310% since 2016 — dilution; 317.8M
Volatility: beta vs the market — under 1 swings less; 3.60

Revenue, last 9 years

52-week range

Low $8.18$10.49High $23.20

Today's price is 15% of the way from the year's low to its high.

Valuation vs own history

P/E

8.6×

100%

P/S

4.0×

67%

P/B

3.5×

20%

FCF yield

0.2%

14%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Insider activity · 90 days

-$41.1Knet selling

Purchases$0

Sales$41.1K

Insiders trading, last 14d0 buy · 1 sell

Standing in Financial Services

Size$2.70Btop 98%
Revenue growth+80%top 2%
Net margin-147%top 98%
Return on equity-75%top 98%
P/E7.4×top 6%
Dividend yield1.34%top 70%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Valuation, Growth, Profitability, Health, Quality and Moat lag behind.

Valuation45

P/E vs own history0th pct · 25/25
FCF yield-22.6% · 0/25
P/S4.0x · 20/25
EV/EBITDA420.7x · 0/25

Growth25

Revenue CAGR195.7% · 25/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growthn/a · 0/25

Profitability20

ROIC17.5% · 20/25
ROE-75.2% · 0/25
Net margin-550.7% · 0/25
Operating margin-131.6% · 0/25

Health25

Altman Zn/a · 0/25
Current ratio5.91 · 25/25
Interest coverage-46.7x · 0/25
Net cash / debtn/a · 0/25

Quality16

Piotroski F4/9 · 10/25
Beneish M-0.35 · 6/25
FCF conversionn/a · 0/25
Margin stabilityσ 1127.9% · 0/25

Moat20

ROIC >12% years0/9 yrs · 0/25
Median gross margin44.4% · 20/25
FCF-positive years1/8 yrs · 0/25
Worst-year net marginworst -8123.6% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

2026Product
ClearSpace-1 was expected to be launched in the second half of 2026 on a Vega-C launch vehicle
FY2025Financial
Turned profitable
$364M net income after a loss year
FY2025Financial
Best year on record
$364M net income

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$8 595 today — price return only

$766.3M revenue in FY2025

Revenue up 102.9% year over year

314 employees

ROIC of 17.5%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (47.0%)
Revenue growing 102.9% year over year
High returns on invested capital (ROIC 17.5%)

Watch-outs

Not profitable — 550.7% net margin
Negative free cash flow (-$609.3M)
Thin interest coverage (-46.7×)
Loss-making in 8 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

6 of 11 checks passed

Revenue growing — the company sells more than a year ago+102.9% YoY
Profitable — makes more than it spends-$998M TTM
Profit growing — earnings are higher than last year+350.0% YoY
Generates cash — cash left after running and investing-$609M TTM
Debt under control — could handle its obligationscurrent ratio 5.91
Established company — not a micro-cap — lower blow-up risk$2.70B market cap
Not printing shares — share count not ballooning — you keep your slice+850.8% shares over ~5y
Proven track record — years of profitability behind it1/9 profitable years
Financially stable — balance sheet not near distresshealth score 25/100
Pays a dividend — returns cash to shareholdersyield 1.34%
Valuation not extreme — price not wildly above earningsP/E 7.4

Peer comparisonCleanspark Inc vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
CLSK this company	$2.7B	7.4	+102.9%	-550.7%	Strained
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: CLSK vs BRK.A · CLSK vs BRK.B · CLSK vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 14Hold 2

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $181M · net income -$998M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$181M

YoY 102.9%

Net income (TTM)

-$998M

Margin -550.7%

Gross margin

47.0%

Operating margin

-131.6%

P/E ratio

7.4

Dividend yield

1.34%

Income statement — full detail

Figures in USD billions · EPS in USD

	2019	2021	2022	2023	2024	2025
Revenue	0.0	0.0	0.1	0.2	0.4	0.8
Gross profit	0.0	0.0	0.1	0.1	0.2	0.4
Operating income (EBIT)	-0.0	-0.0	-0.0	-0.1	-0.1	0.3
Net income	-0.0	-0.0	-0.1	-0.1	-0.1	0.4
EPS (diluted)	-0.78	-0.31	-0.67	-0.66	-0.67	1.15

Cash flowFree cash flow -$609M · operating cash flow -$529M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

-$609M

Margin -336.3%

Operating cash flow (TTM)

-$529M

Cash flow statement — full detail

Figures in USD billions

	2019	2021	2022	2023	2024	2025
Operating cash flow	—	-0.0	0.1	-0.0	-0.2	-0.5
Capital expenditure	—	-0.0	-0.0	-0.1	-0.1	-0.1
Free cash flow	—	-0.0	0.1	-0.1	-0.3	-0.6
FCF margin	—	-66.6%	39.7%	-54.5%	-79.1%	-79.0%

Balance sheetAssets $3.18B · debt n/a (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $3.18B of assets is financed

32%

68%

Liabilities $1.01B — borrowed moneyEquity $2.18B — owners' stake

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

-46.7x

EBIT ÷ interest expense

ROE

-75.2%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2019	2021	2022	2023	2024	2025
Cash & equivalents	0.0	0.0	0.0	0.0	0.1	0.0
Total assets	0.0	0.0	0.5	0.8	2.0	3.2
Total liabilities	0.0	0.0	0.0	0.1	0.2	1.0
Total debt	—	—	—	—	—	—
Equity	0.0	0.0	0.4	0.7	1.8	2.2
Net debt	—	—	—	—	—	—

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of CLSK on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $10.49 · market cap $2.70B.