Comprehensive Stock Comparison
Compare CleanSpark, Inc. (CLSKW) vs Bitmine Immersion Technologies, Inc. (BMNR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CLSKW | 102.2% revenue growth vs BMNR's 84.1% |
| Value | CLSKW | Lower P/E (0.3x vs 1.4x) |
| Quality / Margins | BMNR | 57.2% net margin vs CLSKW's 47.6% |
| Stability / Safety | CLSKW | Beta 2.34 vs BMNR's 2.38 |
| Dividends | CLSKW | 10.8% yield; 3-year raise streak; BMNR pays no meaningful dividend |
| Momentum (1Y) | BMNR | +251.7% vs CLSKW's -34.4% |
| Efficiency (ROA) | CLSKW | -7.8% ROA vs BMNR's -42.3%, ROIC 9.9% vs 7.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
CleanSpark is a Bitcoin mining company that operates data centers primarily powered by low-carbon energy sources. It generates revenue almost entirely from Bitcoin mining rewards and transaction fees — earning newly minted Bitcoin through its computing power contribution to the network. The company's key advantage is its focus on sustainable energy sources and strategic location in low-cost power regions, which gives it a cost edge in the energy-intensive mining process.
Bitmine Immersion Technologies operates as a blockchain infrastructure company that hosts cryptocurrency mining equipment for third parties and engages in self-mining for its own account. It generates revenue primarily from hosting fees paid by clients for mining equipment operation—including power, cooling, and security services—and from mining rewards earned through its own operations. The company's competitive advantage lies in its specialized data center infrastructure with proprietary thermodynamic management systems that optimize mining efficiency and reduce energy costs.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CLSKW leads in 6 of 6 categories — strongest in Financial Metrics and Valuation Metrics.
Financial Metrics (TTM)
CLSKW is the larger business by revenue, generating $766M annually — 125.7x BMNR's $6M. BMNR is the more profitable business, keeping 57.2% of every revenue dollar as net income compared to CLSKW's 47.6%.
| Metric | CLSKWCleanSpark, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| RevenueTrailing 12 months | $766M | $6M |
| EBITDAEarnings before interest/tax | $117M | $224M |
| Net IncomeAfter-tax profit | -$261M | -$4.9B |
| Free Cash FlowCash after capex | -$627M | -$234M |
| Gross MarginGross profit ÷ Revenue | +55.2% | +5.1% |
| Operating MarginEBIT ÷ Revenue | +41.6% | +72.9% |
| Net MarginNet income ÷ Revenue | +47.6% | +57.2% |
| FCF MarginFCF ÷ Revenue | -79.0% | -85.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -2.6% | -11051.7% |
Valuation Metrics
At 0.3x trailing earnings, CLSKW trades at a 80% valuation discount to BMNR's 1.4x P/E. On an enterprise value basis, CLSKW's 1.3x EV/EBITDA is more attractive than BMNR's 16.3x.
| Metric | CLSKWCleanSpark, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| Market CapShares × price | $89M | $7.8B |
| Enterprise ValueMkt cap + debt − cash | $870M | $7.2B |
| Trailing P/EPrice ÷ TTM EPS | 0.28x | 1.42x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 1.30x | 16.28x |
| Price / SalesMarket cap ÷ Revenue | 0.12x | 1272.33x |
| Price / BookPrice ÷ Book value/share | 0.05x | 0.05x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
CLSKW delivers a -18.9% return on equity — every $100 of shareholder capital generates $-19 in annual profit, vs $-43 for BMNR.
| Metric | CLSKWCleanSpark, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| ROE (TTM)Return on equity | -18.9% | -43.1% |
| ROA (TTM)Return on assets | -7.8% | -42.3% |
| ROICReturn on invested capital | +9.9% | +7.7% |
| ROCEReturn on capital employed | +13.7% | +10.1% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 4 |
| Debt / EquityFinancial leverage | 0.38x | — |
| Net DebtTotal debt minus cash | $781M | -$512M |
| Cash & Equiv.Liquid assets | $43M | $512M |
| Total DebtShort + long-term debt | $824M | $0 |
| Interest CoverageEBIT ÷ Interest expense | 25.88x | -12890.65x |
Total Returns (with DRIP)
A $10,000 investment in CLSKW five years ago would be worth $56,818 today (with dividends reinvested), compared to $601 for BMNR. Over the past 12 months, BMNR leads with a +251.7% total return vs CLSKW's -34.4%. The 3-year compound annual growth rate (CAGR) favors CLSKW at 78.4% vs BMNR's -1.7% — a key indicator of consistent wealth creation.
| Metric | CLSKWCleanSpark, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| YTD ReturnYear-to-date | -15.8% | -39.1% |
| 1-Year ReturnPast 12 months | -34.4% | +251.7% |
| 3-Year ReturnCumulative with dividends | +468.2% | -5.0% |
| 5-Year ReturnCumulative with dividends | +468.2% | -94.0% |
| 10-Year ReturnCumulative with dividends | +468.2% | -50.5% |
| CAGR (3Y)Annualised 3-year return | +78.4% | -1.7% |
Risk & Volatility
CLSKW is the less volatile stock with a 2.34 beta — it tends to amplify market swings less than BMNR's 2.38 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CLSKW currently trades 30.6% from its 52-week high vs BMNR's 11.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CLSKWCleanSpark, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.34x | 2.38x |
| 52-Week HighHighest price in past year | $1.02 | $161.00 |
| 52-Week LowLowest price in past year | $0.15 | $3.92 |
| % of 52W HighCurrent price vs 52-week peak | +30.6% | +11.8% |
| RSI (14)Momentum oscillator 0–100 | 47.7 | 41.9 |
| Avg Volume (50D)Average daily shares traded | 154K | 36.1M |
Analyst Outlook
CLSKW is the only dividend payer here at 10.82% yield — a key consideration for income-focused portfolios.
| Metric | CLSKWCleanSpark, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | $39.00 |
| # AnalystsCovering analysts | — | 1 |
| Dividend YieldAnnual dividend ÷ price | +10.8% | — |
| Dividend StreakConsecutive years of raises | 3 | 1 |
| Dividend / ShareAnnual DPS | $0.03 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +100.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Nov 24 | Feb 26 | Change |
|---|---|---|---|
| CleanSpark, Inc. (CLSKW) | 100 | 439.82 | +339.8% |
| Bitmine Immersion T… (BMNR) | 100 | 587.12 | +487.1% |
CleanSpark, Inc. (CLSKW) returned +468% over 5 years vs Bitmine Immersion T… (BMNR)'s -94%. A $10,000 investment in CLSKW 5 years ago would be worth $56,818 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| CleanSpark, Inc. (CLSKW) | $82031.00 | $766M | +934076.1% |
| Bitmine Immersion T… (BMNR) | $0.00 | $6M | — |
CleanSpark, Inc.'s revenue grew from $0M (2016) to $766M (2025) — a 176.2% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| CleanSpark, Inc. (CLSKW) | -31.0% | 47.6% | +253.6% |
| Bitmine Immersion T… (BMNR) | -4.7% | 57.2% | +1319.7% |
CleanSpark, Inc.'s net margin went from -31% (2016) to 48% (2025).
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| CleanSpark, Inc. (CLSKW) | -1.13 | 1.12 | +199.1% |
| Bitmine Immersion T… (BMNR) | -0 | 13.39 | +1673850.0% |
CleanSpark, Inc.'s EPS grew from $-1.13 (2016) to $1.12 (2025).
Chart 5Free Cash Flow — 5 Years
CleanSpark, Inc. generated $-606M FCF in 2025 (-140% vs 2021). Bitmine Immersion Technologies, Inc. generated $-5M FCF in 2025 (-935% vs 2021).
CLSKW vs BMNR: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is CLSKW or BMNR a better buy right now?
CleanSpark, Inc. (CLSKW) offers the better valuation at 0.3x trailing P/E, making it the more compelling value choice. Analysts rate Bitmine Immersion Technologies, Inc. (BMNR) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CLSKW or BMNR?
On trailing P/E, CleanSpark, Inc. (CLSKW) is the cheapest at 0.3x versus Bitmine Immersion Technologies, Inc. at 1.4x.
03Which is the better long-term investment — CLSKW or BMNR?
Over the past 5 years, CleanSpark, Inc. (CLSKW) delivered a total return of +468.2%, compared to -94.0% for Bitmine Immersion Technologies, Inc. (BMNR). A $10,000 investment in CLSKW five years ago would be worth approximately $57K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CLSKW returned +468.2% versus BMNR's -50.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CLSKW or BMNR?
By beta (market sensitivity over 5 years), CleanSpark, Inc. (CLSKW) is the lower-risk stock at 2.34β versus Bitmine Immersion Technologies, Inc.'s 2.38β — meaning BMNR is approximately 2% more volatile than CLSKW relative to the S&P 500.
05Which has better profit margins — CLSKW or BMNR?
Bitmine Immersion Technologies, Inc. (BMNR) is the more profitable company, earning 57.2% net margin versus 47.6% for CleanSpark, Inc. — meaning it keeps 57.2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BMNR leads at 72.9% versus 41.6% for CLSKW. At the gross margin level — before operating expenses — CLSKW leads at 55.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — CLSKW or BMNR?
In this comparison, CLSKW (10.8% yield) pays a dividend. BMNR does not pay a meaningful dividend and should not be held primarily for income.
07Is CLSKW or BMNR better for a retirement portfolio?
For long-horizon retirement investors, CleanSpark, Inc. (CLSKW) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (10.8% yield, +468.2% 10Y return). Bitmine Immersion Technologies, Inc. (BMNR) carries a higher beta of 2.38 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (CLSKW: +468.2%, BMNR: -50.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between CLSKW and BMNR?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. CLSKW pays a dividend while BMNR does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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