CleanSpark, Inc. (CLSK) 10-Year Financial Performance & Capital Metrics

CLSK • • Industrial / General

TechnologyApplication SoftwareBlockchain & CryptocurrencyCryptocurrency Mining

AboutCleanSpark, Inc. provides bitcoin mining and energy technology solutions worldwide. It operates in two segments, Digital Currency Mining and Energy. The Digital Currency Mining segment engages in mining of bitcoin. The energy segment provides engineering, design and software, custom hardware, open automated demand response, solar, and energy storage solutions for microgrids and distributed energy systems to military, commercial, and residential customers; and develops platforms that enables designing, building, operating, and managing of energy assets. This segment also offers microgrid energy modeling, energy market communications, and energy management solutions comprising mPulse and mVoult, which are control platforms that enables integration and optimization of multiple energy sources; Canvas, a middleware for grid operators and aggregators to administrate load shifting programs; Plaid, a middleware for controls and Internet-of-Things products companies to participate in load shifting programs; and mVSO, an energy modeling software for internal microgrid design, as well as owns gasification energy technologies for various applications, such as feedstock for the generation of di-methyl ether. In addition, it provides design, software development, and other technology-based consulting services; data center services, including rack space, power, and equipment; and various cloud services, such as virtual, virtual storage, and data backup services. The company was formerly known as Stratean Inc. and changed its name to CleanSpark, Inc. in November 2016. CleanSpark, Inc. was incorporated in 1987 and is headquartered in Henderson, Nevada.Show more

Revenue $766M +102.2%
EBITDA $667M +11888.6%
Net Income $364M +350.0%
EPS (Diluted) 1.12 +262.3%
Gross Margin 55.23% -1.9%
EBITDA Margin 87.08% +5828.9%
Operating Margin 41.62% +205.8%
Net Margin 47.56% +223.6%
ROE 18.52% +254.9%
ROIC 11.92% +226.4%
Debt/Equity 0.08 +113.5%
Interest Coverage 28.14 +146.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 138.0%

✗Weaknesses

✗Negative free cash flow
✗Shares diluted 46.5% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y138.03%

3Y79.94%

TTM102.21%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM350.01%

EPS CAGR

10Y-

5Y-

3Y-

TTM297.39%

ROCE

10Y Avg-27.67%

5Y Avg-7.97%

3Y Avg-7.35%

Latest13.74%

Peer Comparison

Cryptocurrency Mining

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
CLSKCleanSpark, Inc.	3.21B	12.55	11.21	102.21%	47.56%	16.76%	0.08
ANYSphere 3D Corp.	11.1M	0.33	-0.69	-24.19%	-167.47%	-62.93%
BTDRBitdeer Technologies Group	2.4B	12.77	-2.93	-5.09%	-115.59%	-93.56%	1.03
STRFMicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock		104.23	-17.20	-6.61%	16.67%	13.62%	0.40

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	82.03K	447.96K	578.63K	4.53M	10.03M	39.29M	131.53M	168.41M	378.97M	766.31M
Revenue Growth %	-	4.46%	0.29%	6.83%	1.21%	2.92%	2.35%	0.28%	1.25%	1.02%
Cost of Goods Sold+	31.26K	296.3K	390.77K	3.86M	7.91M	26.45M	82.15M	139.29M	165.52M	343.1M
COGS % of Revenue	0.38%	0.66%	0.68%	0.85%	0.79%	0.67%	0.62%	0.83%	0.44%	0.45%
Gross Profit+	50.77K	151.67K	187.86K	671.7K	2.12M	12.84M	49.37M	29.11M	213.45M	423.21M
Gross Margin %	0.62%	0.34%	0.32%	0.15%	0.21%	0.33%	0.38%	0.17%	0.56%	0.55%
Gross Profit Growth %	-	1.99%	0.24%	2.58%	2.16%	5.05%	2.84%	-0.41%	6.33%	0.98%
Operating Expenses+	2.59M	4.97M	7.26M	17.29M	17.26M	24.74M	87.23M	160.16M	362.5M	104.26M
OpEx % of Revenue	31.6%	11.09%	12.55%	3.81%	1.72%	0.63%	0.66%	0.95%	0.96%	0.14%
Selling, General & Admin	2.01M	1.65M	3.13M	7.01M	14.43M	12.26M	16.89M	31.69M	43.99M	66.41M
SG&A % of Revenue	24.52%	3.68%	5.41%	1.55%	1.44%	0.31%	0.13%	0.19%	0.12%	0.09%
Research & Development	1.83K	591	1.38M	1.45M	163.92K	0	0	0	0	0
R&D % of Revenue	0.02%	0%	2.39%	0.32%	0.02%	-	-	-	-	-
Other Operating Expenses	578.46K	3.32M	2.75M	8.82M	2.67M	12.48M	70.34M	128.47M	318.5M	37.85M
Operating Income+	-2.54M	-4.81M	-7.08M	-16.61M	-15.14M	-11.9M	-37.86M	-131.04M	-149.04M	318.95M
Operating Margin %	-30.98%	-10.75%	-12.23%	-3.67%	-1.51%	-0.3%	-0.29%	-0.78%	-0.39%	0.42%
Operating Income Growth %	0.27%	-0.89%	-0.47%	-1.35%	0.09%	0.21%	-2.18%	-2.46%	-0.14%	3.14%
EBITDA+	-1.96M	-1.5M	-4.84M	-13.26M	-12.31M	-2.56M	11.18M	-10.31M	5.57M	667.28M
EBITDA Margin %	-23.93%	-3.34%	-8.37%	-2.92%	-1.23%	-0.07%	0.09%	-0.06%	0.01%	0.87%
EBITDA Growth %	0.44%	0.24%	-2.24%	-1.74%	0.07%	0.79%	5.37%	-1.92%	1.54%	118.89%
D&A (Non-Cash Add-back)	578.46K	3.32M	2.23M	3.36M	2.84M	9.34M	49.05M	120.73M	154.61M	348.33M
EBIT	-2.54M	-13.5M	-46.08M	-16.63M	-12.59M	-8.08M	-39.01M	-128.33M	-139.98M	414.91M
Net Interest Income+	-32	-2.9K	-924K	-9.48M	-10.45M	75.76K	-888K	-2.5M	6.1M	-7.21M
Interest Income	0	0	0	0	308.8K	221.49K	190.54K	481K	8.55M	4.13M
Interest Expense	32	2.9K	924.45K	9.48M	10.76M	145.73K	1.08M	2.98M	2.46M	11.34M
Other Income/Expense	689	-8.68M	-39.93M	-9.5M	-8.2M	3.67M	-2.23M	-260K	6.61M	84.63M
Pretax Income+	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-8.23M	-40.09M	-131.3M	-142.43M	403.57M
Pretax Margin %	-30.97%	-30.13%	-81.24%	-5.76%	-2.33%	-0.21%	-0.3%	-0.78%	-0.38%	0.53%
Income Tax+	0	0	0	0	0	0	0	2.42M	3.34M	39.11M
Effective Tax Rate %	1%	1%	1%	1%	1%	2.65%	1.43%	1.05%	1.02%	0.9%
Net Income+	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-21.81M	-57.33M	-138.15M	-145.78M	364.46M
Net Margin %	-30.97%	-30.13%	-81.24%	-5.76%	-2.33%	-0.56%	-0.44%	-0.82%	-0.38%	0.48%
Net Income Growth %	0.27%	-4.31%	-2.48%	0.44%	0.11%	0.07%	-1.63%	-1.41%	-0.06%	3.5%
Net Income (Continuing)	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-8.23M	-40.09M	-133.72M	-145.78M	364.46M
Discontinued Operations	0	0	0	0	0	-13.58M	-17.24M	-4.43M	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.13	-4.20	-13.62	-6.25	-2.44	-0.75	-1.35	-1.35	-0.69	1.12
EPS Growth %	0.38%	-2.72%	-2.24%	0.54%	0.61%	0.69%	-0.8%	0%	0.49%	2.62%
EPS (Basic)	-1.13	-4.19	-13.62	-6.25	-2.44	-0.75	-1.35	-1.35	-0.69	1.25
Diluted Shares Outstanding	2.25M	3.22M	3.45M	4.18M	9.55M	29.44M	42.61M	102.71M	216.86M	317.76M
Basic Shares Outstanding	2.25M	3.22M	3.45M	4.18M	9.55M	29.44M	42.61M	102.71M	216.86M	282.18M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	604.37K	128.63K	548.38K	9.88M	8.25M	57.73M	50.78M	102.17M	705.43M	1.32B
Cash & Short-Term Investments	436.53K	57.13K	412.78K	7.84M	4.09M	38.93M	32.22M	86.18M	553.8M	1.01B
Cash Only	436.53K	57.13K	412.78K	7.84M	3.13M	14.57M	20.46M	29.21M	121.22M	42.97M
Short-Term Investments	0	0	0	0	960K	24.36M	11.76M	56.97M	432.58M	966.83M
Accounts Receivable	110.11K	41.95K	86.58K	834.79K	863.89K	307.07K	27.03K	5K	140.03M	294.65M
Days Sales Outstanding	489.96	34.18	54.61	67.22	31.44	2.85	0.07	0.01	134.87	140.34
Inventory	0	0	0	0	247.5K	79.81K	216.4K	809K	0	0
Days Inventory Outstanding	-	-	-	-	11.42	1.1	0.96	2.12	-	-
Other Current Assets	0	0	0	0	2.3M	16.27M	10.38M	15.18M	11.6M	15.6M
Total Non-Current Assets+	32.42M	20.66M	17.01M	13.55M	14.09M	259.75M	401.85M	659.41M	1.26B	1.86B
Property, Plant & Equipment	5.35M	125.44K	86.73K	145.07K	158.71K	138.29M	389.83M	565.08M	872.96M	1.37B
Fixed Asset Turnover	0.02x	3.57x	6.67x	31.25x	63.19x	0.28x	0.34x	0.30x	0.43x	0.56x
Goodwill	4.92M	4.92M	4.92M	4.92M	5.9M	12.05M	0	8.04M	8.04M	131.66M
Intangible Assets	22.14M	15.61M	12M	8.49M	8.03M	8.22M	6.49M	4.6M	3.04M	5.85M
Long-Term Investments	0	0	0	0	0	0	0	0	0	222.61M
Other Non-Current Assets	589	5.74K	0	0	0	101.19M	5.53M	80.82M	373.19M	135.53M
Total Assets+	33.02M	20.79M	17.56M	23.43M	22.34M	317.47M	452.62M	761.58M	1.96B	3.18B
Asset Turnover	0.00x	0.02x	0.03x	0.19x	0.45x	0.12x	0.29x	0.22x	0.19x	0.24x
Asset Growth %	39.4%	-0.37%	-0.16%	0.33%	-0.05%	13.21%	0.43%	0.68%	1.58%	0.62%
Total Current Liabilities+	357.42K	301.29K	1.35M	1.5M	5.38M	10.06M	34.04M	74.06M	187.89M	315.76M
Accounts Payable	291.19K	143.22K	131.72K	848.76K	4.53M	6.98M	24.66M	65.58M	82.99M	15.16M
Days Payables Outstanding	3.4K	176.44	123.04	80.24	208.95	96.37	109.57	171.84	183.02	16.13
Short-Term Debt	2.26K	81.05K	909.49K	67.47K	0	517.93K	7.79M	7.3M	58.78M	176.57M
Deferred Revenue (Current)	0	0	0	499.4K	64.2K	296.96K	0	0	0	0
Other Current Liabilities	63.97K	77.02K	308.37K	86.97K	750K	1.75M	1.22M	1.18M	3.74M	124.04M
Current Ratio	1.69x	0.43x	0.41x	6.58x	1.53x	5.74x	1.49x	1.38x	3.75x	4.18x
Quick Ratio	1.69x	0.43x	0.41x	6.58x	1.49x	5.73x	1.49x	1.37x	3.75x	4.18x
Cash Conversion Cycle	-	-	-	-	-166.08	-92.42	-108.53	-169.7	-	-
Total Non-Current Liabilities+	0	150K	150K	3.05M	531.17K	1.69M	14.57M	10.3M	13.93M	692.74M
Long-Term Debt	0	150K	150K	3.05M	531.17K	0	13.43M	8.91M	7.18M	644.59M
Capital Lease Obligations	0	0	0	0	0	1.02M	627K	528K	997K	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	857K	5.76M	44.87M
Other Non-Current Liabilities	0	0	0	0	0	674.78K	512.19K	0	0	0
Total Liabilities	357.42K	451.29K	1.5M	4.55M	5.91M	11.76M	48.61M	84.35M	201.82M	1.01B
Total Debt+	2.26K	231.04K	1.06M	3.11M	572.46K	1.54M	22.22M	16.74M	66.95M	176.57M
Net Debt	-434.27K	173.92K	646.71K	-4.73M	-2.55M	-13.03M	1.76M	-12.47M	-54.27M	133.6M
Debt / Equity	0.00x	0.01x	0.07x	0.16x	0.03x	0.01x	0.05x	0.02x	0.04x	0.08x
Debt / EBITDA	-	-	-	-	-	-	1.99x	-	12.03x	0.26x
Net Debt / EBITDA	-	-	-	-	-	-	0.16x	-	-9.75x	0.20x
Interest Coverage	-79414.09x	-1662.87x	-7.65x	-1.75x	-1.41x	-81.65x	-35.12x	-44.02x	-60.71x	28.14x
Total Equity+	32.66M	20.34M	16.06M	18.89M	16.43M	305.72M	404.01M	677.23M	1.76B	2.18B
Equity Growth %	41.87%	-0.38%	-0.21%	0.18%	-0.13%	17.61%	0.32%	0.68%	1.6%	0.24%
Book Value per Share	14.50	6.32	4.65	4.52	1.72	10.38	9.48	6.59	8.12	6.85
Total Shareholders' Equity	32.66M	20.34M	16.06M	18.89M	16.43M	305.72M	404.01M	677.23M	1.76B	2.18B
Common Stock	27.83K	33.41K	3.61K	4.68K	17.39K	37.39K	55.66K	160K	271K	296K
Retained Earnings	-6.43M	-19.93M	-66.94M	-93.06M	-116.4M	-138.39M	-196.05M	-332.64M	-479.22M	-125.89M
Treasury Stock	0	0	0	0	0	0	0	0	0	-145M
Accumulated OCI	0	0	0	0	0	-5.39K	110.11K	226K	418K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	-438.17K	-1.36M	-1.26M	-5.7M	-6.64M	-23.99M	73.46M	-17.25M	-233.66M	-461.03M
Operating CF Margin %	-5.34%	-3.04%	-2.18%	-1.26%	-0.66%	-0.61%	0.56%	-0.1%	-0.62%	-0.6%
Operating CF Growth %	-1.3%	-2.11%	0.07%	-3.52%	-0.17%	-2.61%	4.06%	-1.23%	-12.55%	-0.97%
Net Income	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-8.23M	-40.09M	-138.15M	-145.78M	364.46M
Depreciation & Amortization	578.46K	3.32M	2.23M	3.36M	2.84M	9.34M	49.16M	120.73M	154.61M	348.33M
Stock-Based Compensation	1.54M	135.55K	1.5M	1.99M	2.05M	8.55M	31.47M	24.14M	29.55M	45.34M
Deferred Taxes	0	0	0	0	0	0	0	857K	0	0
Other Non-Cash Items	19.37K	8.68M	41.76M	16.16M	8.91M	-47.57M	20.02M	35.03M	-288.58M	-1.24B
Working Capital Changes	-40.41K	1.22K	250.25K	-1.09M	2.91M	13.93M	12.9M	-59.85M	16.53M	19.5M
Change in Receivables	-37.03K	15.15K	7.81K	-1M	31.31K	-2.01M	-530.31K	0	0	0
Change in Inventory	185.59K	0	0	-1.31M	0	-2.24M	0	0	0	0
Change in Payables	-16.31K	144	44.81K	723.83K	3.42M	5.01M	16.04M	7.67M	19.72M	32.79M
Cash from Investing+	-20.86K	-126.32K	-419.23K	-673.95K	-2.38M	-229.16M	-210.98M	-331.93M	-920.4M	-305.66M
Capital Expenditures	-9.67K	-10.68K	-15.23K	-102.76K	-34.9K	-139.24M	-190.47M	-61.46M	-806.4M	-144.66M
CapEx % of Revenue	0.12%	0.02%	0.03%	0.02%	0%	3.54%	1.45%	0.36%	2.13%	0.19%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-11.18K	-115.64K	-404K	-571.19K	-84.92K	-373.21B	3.27M	-238.56M	-59.48M	-161M
Cash from Financing+	807.02K	1.11M	2.04M	13.8M	4.31M	268.06M	139.95M	357.93M	1.25B	688.87M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	-178K	-315K	-21K	-3.42M	-10.74M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	44.94K	4.36K	0	3.75M	-2.01M	-5.42M	-21.93M	-94.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-459.02K	-1.5M	-1.68M	-6.37M	-6.76M	-252.56M	-117.23M	-318.12M	-1.04B	-605.69M
FCF Margin %	-5.6%	-3.34%	-2.9%	-1.41%	-0.67%	-6.43%	-0.89%	-1.89%	-2.74%	-0.79%
FCF Growth %	-0.7%	-2.26%	-0.12%	-2.79%	-0.06%	-36.35%	0.54%	-1.71%	-2.27%	0.42%
FCF per Share	-0.20	-0.46	-0.49	-1.53	-0.71	-8.58	-2.75	-3.10	-4.80	-1.91
FCF Conversion (FCF/Net Income)	0.17x	0.10x	0.03x	0.22x	0.28x	1.10x	-1.28x	0.12x	1.60x	-1.26x
Interest Paid	0	0	0	0	0	0	0	0	2.13M	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-15.2%	-50.94%	-258.29%	-149.49%	-132.23%	-13.54%	-16.15%	-25.55%	-11.96%	18.52%
Return on Invested Capital (ROIC)	-11.59%	-13.69%	-28.52%	-80.75%	-81.03%	-5.82%	-8.13%	-18.36%	-9.43%	11.92%
Gross Margin	61.89%	33.86%	32.47%	14.82%	21.15%	32.69%	37.54%	17.29%	56.32%	55.23%
Net Margin	-3097.08%	-3013.42%	-8123.6%	-576.15%	-232.78%	-55.52%	-43.59%	-82.03%	-38.47%	47.56%
Debt / Equity	0.00x	0.01x	0.07x	0.16x	0.03x	0.01x	0.05x	0.02x	0.04x	0.08x
Interest Coverage	-79414.09x	-1662.87x	-7.65x	-1.75x	-1.41x	-81.65x	-35.12x	-44.02x	-60.71x	28.14x
FCF Conversion	0.17x	0.10x	0.03x	0.22x	0.28x	1.10x	-1.28x	0.12x	1.60x	-1.26x
Revenue Growth	-	446.09%	29.17%	683.4%	121.24%	291.73%	234.78%	28.04%	125.03%	102.21%

Revenue by Segment

	2020	2021
Consolidated Revenues	-	49.44M
Consolidated Revenues Growth	-	-
Other Revenue And Eliminations	-	1.59M
Other Revenue And Eliminations Growth	-	-
Consolidated	10.03M	-
Consolidated Growth	-	-
Energy	9.02M	-
Energy Growth	-	-
P2K	1.13M	-
P2K Growth	-	-
Inter	-119.56K	-
Inter Growth	-	-

Frequently Asked Questions

Valuation & Price

CleanSpark, Inc. (CLSK) has a price-to-earnings (P/E) ratio of 11.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

CleanSpark, Inc. (CLSK) reported $766.3M in revenue for fiscal year 2025.

CleanSpark, Inc. (CLSK) grew revenue by 102.2% over the past year. This is strong growth.

Yes, CleanSpark, Inc. (CLSK) is profitable, generating $364.5M in net income for fiscal year 2025 (47.6% net margin).

Dividend & Returns

Yes, CleanSpark, Inc. (CLSK) pays a dividend with a yield of 0.27%. This makes it attractive for income-focused investors.

CleanSpark, Inc. (CLSK) has a return on equity (ROE) of 18.5%. This is reasonable for most industries.

CleanSpark, Inc. (CLSK) had negative free cash flow of $605.7M in fiscal year 2025, likely due to heavy capital investments.

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CleanSpark, Inc. (CLSK) 10-Year Financial Performance & Capital Metrics

CLSK • • Industrial / General

TechnologyApplication SoftwareBlockchain & CryptocurrencyCryptocurrency Mining

Revenue $766M +102.2%
EBITDA $667M +11888.6%
Net Income $364M +350.0%
EPS (Diluted) 1.12 +262.3%
Gross Margin 55.23% -1.9%
EBITDA Margin 87.08% +5828.9%
Operating Margin 41.62% +205.8%
Net Margin 47.56% +223.6%
ROE 18.52% +254.9%
ROIC 11.92% +226.4%
Debt/Equity 0.08 +113.5%
Interest Coverage 28.14 +146.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 138.0%

✗Weaknesses

✗Negative free cash flow
✗Shares diluted 46.5% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y138.03%

3Y79.94%

TTM102.21%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM350.01%

EPS CAGR

10Y-

5Y-

3Y-

TTM297.39%

ROCE

10Y Avg-27.67%

5Y Avg-7.97%

3Y Avg-7.35%

Latest13.74%

Peer Comparison

Cryptocurrency Mining

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
CLSKCleanSpark, Inc.	3.21B	12.55	11.21	102.21%	47.56%	16.76%	0.08
ANYSphere 3D Corp.	11.1M	0.33	-0.69	-24.19%	-167.47%	-62.93%
BTDRBitdeer Technologies Group	2.4B	12.77	-2.93	-5.09%	-115.59%	-93.56%	1.03
STRFMicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock		104.23	-17.20	-6.61%	16.67%	13.62%	0.40

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	82.03K	447.96K	578.63K	4.53M	10.03M	39.29M	131.53M	168.41M	378.97M	766.31M
Revenue Growth %	-	4.46%	0.29%	6.83%	1.21%	2.92%	2.35%	0.28%	1.25%	1.02%
Cost of Goods Sold+	31.26K	296.3K	390.77K	3.86M	7.91M	26.45M	82.15M	139.29M	165.52M	343.1M
COGS % of Revenue	0.38%	0.66%	0.68%	0.85%	0.79%	0.67%	0.62%	0.83%	0.44%	0.45%
Gross Profit+	50.77K	151.67K	187.86K	671.7K	2.12M	12.84M	49.37M	29.11M	213.45M	423.21M
Gross Margin %	0.62%	0.34%	0.32%	0.15%	0.21%	0.33%	0.38%	0.17%	0.56%	0.55%
Gross Profit Growth %	-	1.99%	0.24%	2.58%	2.16%	5.05%	2.84%	-0.41%	6.33%	0.98%
Operating Expenses+	2.59M	4.97M	7.26M	17.29M	17.26M	24.74M	87.23M	160.16M	362.5M	104.26M
OpEx % of Revenue	31.6%	11.09%	12.55%	3.81%	1.72%	0.63%	0.66%	0.95%	0.96%	0.14%
Selling, General & Admin	2.01M	1.65M	3.13M	7.01M	14.43M	12.26M	16.89M	31.69M	43.99M	66.41M
SG&A % of Revenue	24.52%	3.68%	5.41%	1.55%	1.44%	0.31%	0.13%	0.19%	0.12%	0.09%
Research & Development	1.83K	591	1.38M	1.45M	163.92K	0	0	0	0	0
R&D % of Revenue	0.02%	0%	2.39%	0.32%	0.02%	-	-	-	-	-
Other Operating Expenses	578.46K	3.32M	2.75M	8.82M	2.67M	12.48M	70.34M	128.47M	318.5M	37.85M
Operating Income+	-2.54M	-4.81M	-7.08M	-16.61M	-15.14M	-11.9M	-37.86M	-131.04M	-149.04M	318.95M
Operating Margin %	-30.98%	-10.75%	-12.23%	-3.67%	-1.51%	-0.3%	-0.29%	-0.78%	-0.39%	0.42%
Operating Income Growth %	0.27%	-0.89%	-0.47%	-1.35%	0.09%	0.21%	-2.18%	-2.46%	-0.14%	3.14%
EBITDA+	-1.96M	-1.5M	-4.84M	-13.26M	-12.31M	-2.56M	11.18M	-10.31M	5.57M	667.28M
EBITDA Margin %	-23.93%	-3.34%	-8.37%	-2.92%	-1.23%	-0.07%	0.09%	-0.06%	0.01%	0.87%
EBITDA Growth %	0.44%	0.24%	-2.24%	-1.74%	0.07%	0.79%	5.37%	-1.92%	1.54%	118.89%
D&A (Non-Cash Add-back)	578.46K	3.32M	2.23M	3.36M	2.84M	9.34M	49.05M	120.73M	154.61M	348.33M
EBIT	-2.54M	-13.5M	-46.08M	-16.63M	-12.59M	-8.08M	-39.01M	-128.33M	-139.98M	414.91M
Net Interest Income+	-32	-2.9K	-924K	-9.48M	-10.45M	75.76K	-888K	-2.5M	6.1M	-7.21M
Interest Income	0	0	0	0	308.8K	221.49K	190.54K	481K	8.55M	4.13M
Interest Expense	32	2.9K	924.45K	9.48M	10.76M	145.73K	1.08M	2.98M	2.46M	11.34M
Other Income/Expense	689	-8.68M	-39.93M	-9.5M	-8.2M	3.67M	-2.23M	-260K	6.61M	84.63M
Pretax Income+	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-8.23M	-40.09M	-131.3M	-142.43M	403.57M
Pretax Margin %	-30.97%	-30.13%	-81.24%	-5.76%	-2.33%	-0.21%	-0.3%	-0.78%	-0.38%	0.53%
Income Tax+	0	0	0	0	0	0	0	2.42M	3.34M	39.11M
Effective Tax Rate %	1%	1%	1%	1%	1%	2.65%	1.43%	1.05%	1.02%	0.9%
Net Income+	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-21.81M	-57.33M	-138.15M	-145.78M	364.46M
Net Margin %	-30.97%	-30.13%	-81.24%	-5.76%	-2.33%	-0.56%	-0.44%	-0.82%	-0.38%	0.48%
Net Income Growth %	0.27%	-4.31%	-2.48%	0.44%	0.11%	0.07%	-1.63%	-1.41%	-0.06%	3.5%
Net Income (Continuing)	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-8.23M	-40.09M	-133.72M	-145.78M	364.46M
Discontinued Operations	0	0	0	0	0	-13.58M	-17.24M	-4.43M	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.13	-4.20	-13.62	-6.25	-2.44	-0.75	-1.35	-1.35	-0.69	1.12
EPS Growth %	0.38%	-2.72%	-2.24%	0.54%	0.61%	0.69%	-0.8%	0%	0.49%	2.62%
EPS (Basic)	-1.13	-4.19	-13.62	-6.25	-2.44	-0.75	-1.35	-1.35	-0.69	1.25
Diluted Shares Outstanding	2.25M	3.22M	3.45M	4.18M	9.55M	29.44M	42.61M	102.71M	216.86M	317.76M
Basic Shares Outstanding	2.25M	3.22M	3.45M	4.18M	9.55M	29.44M	42.61M	102.71M	216.86M	282.18M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	604.37K	128.63K	548.38K	9.88M	8.25M	57.73M	50.78M	102.17M	705.43M	1.32B
Cash & Short-Term Investments	436.53K	57.13K	412.78K	7.84M	4.09M	38.93M	32.22M	86.18M	553.8M	1.01B
Cash Only	436.53K	57.13K	412.78K	7.84M	3.13M	14.57M	20.46M	29.21M	121.22M	42.97M
Short-Term Investments	0	0	0	0	960K	24.36M	11.76M	56.97M	432.58M	966.83M
Accounts Receivable	110.11K	41.95K	86.58K	834.79K	863.89K	307.07K	27.03K	5K	140.03M	294.65M
Days Sales Outstanding	489.96	34.18	54.61	67.22	31.44	2.85	0.07	0.01	134.87	140.34
Inventory	0	0	0	0	247.5K	79.81K	216.4K	809K	0	0
Days Inventory Outstanding	-	-	-	-	11.42	1.1	0.96	2.12	-	-
Other Current Assets	0	0	0	0	2.3M	16.27M	10.38M	15.18M	11.6M	15.6M
Total Non-Current Assets+	32.42M	20.66M	17.01M	13.55M	14.09M	259.75M	401.85M	659.41M	1.26B	1.86B
Property, Plant & Equipment	5.35M	125.44K	86.73K	145.07K	158.71K	138.29M	389.83M	565.08M	872.96M	1.37B
Fixed Asset Turnover	0.02x	3.57x	6.67x	31.25x	63.19x	0.28x	0.34x	0.30x	0.43x	0.56x
Goodwill	4.92M	4.92M	4.92M	4.92M	5.9M	12.05M	0	8.04M	8.04M	131.66M
Intangible Assets	22.14M	15.61M	12M	8.49M	8.03M	8.22M	6.49M	4.6M	3.04M	5.85M
Long-Term Investments	0	0	0	0	0	0	0	0	0	222.61M
Other Non-Current Assets	589	5.74K	0	0	0	101.19M	5.53M	80.82M	373.19M	135.53M
Total Assets+	33.02M	20.79M	17.56M	23.43M	22.34M	317.47M	452.62M	761.58M	1.96B	3.18B
Asset Turnover	0.00x	0.02x	0.03x	0.19x	0.45x	0.12x	0.29x	0.22x	0.19x	0.24x
Asset Growth %	39.4%	-0.37%	-0.16%	0.33%	-0.05%	13.21%	0.43%	0.68%	1.58%	0.62%
Total Current Liabilities+	357.42K	301.29K	1.35M	1.5M	5.38M	10.06M	34.04M	74.06M	187.89M	315.76M
Accounts Payable	291.19K	143.22K	131.72K	848.76K	4.53M	6.98M	24.66M	65.58M	82.99M	15.16M
Days Payables Outstanding	3.4K	176.44	123.04	80.24	208.95	96.37	109.57	171.84	183.02	16.13
Short-Term Debt	2.26K	81.05K	909.49K	67.47K	0	517.93K	7.79M	7.3M	58.78M	176.57M
Deferred Revenue (Current)	0	0	0	499.4K	64.2K	296.96K	0	0	0	0
Other Current Liabilities	63.97K	77.02K	308.37K	86.97K	750K	1.75M	1.22M	1.18M	3.74M	124.04M
Current Ratio	1.69x	0.43x	0.41x	6.58x	1.53x	5.74x	1.49x	1.38x	3.75x	4.18x
Quick Ratio	1.69x	0.43x	0.41x	6.58x	1.49x	5.73x	1.49x	1.37x	3.75x	4.18x
Cash Conversion Cycle	-	-	-	-	-166.08	-92.42	-108.53	-169.7	-	-
Total Non-Current Liabilities+	0	150K	150K	3.05M	531.17K	1.69M	14.57M	10.3M	13.93M	692.74M
Long-Term Debt	0	150K	150K	3.05M	531.17K	0	13.43M	8.91M	7.18M	644.59M
Capital Lease Obligations	0	0	0	0	0	1.02M	627K	528K	997K	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	857K	5.76M	44.87M
Other Non-Current Liabilities	0	0	0	0	0	674.78K	512.19K	0	0	0
Total Liabilities	357.42K	451.29K	1.5M	4.55M	5.91M	11.76M	48.61M	84.35M	201.82M	1.01B
Total Debt+	2.26K	231.04K	1.06M	3.11M	572.46K	1.54M	22.22M	16.74M	66.95M	176.57M
Net Debt	-434.27K	173.92K	646.71K	-4.73M	-2.55M	-13.03M	1.76M	-12.47M	-54.27M	133.6M
Debt / Equity	0.00x	0.01x	0.07x	0.16x	0.03x	0.01x	0.05x	0.02x	0.04x	0.08x
Debt / EBITDA	-	-	-	-	-	-	1.99x	-	12.03x	0.26x
Net Debt / EBITDA	-	-	-	-	-	-	0.16x	-	-9.75x	0.20x
Interest Coverage	-79414.09x	-1662.87x	-7.65x	-1.75x	-1.41x	-81.65x	-35.12x	-44.02x	-60.71x	28.14x
Total Equity+	32.66M	20.34M	16.06M	18.89M	16.43M	305.72M	404.01M	677.23M	1.76B	2.18B
Equity Growth %	41.87%	-0.38%	-0.21%	0.18%	-0.13%	17.61%	0.32%	0.68%	1.6%	0.24%
Book Value per Share	14.50	6.32	4.65	4.52	1.72	10.38	9.48	6.59	8.12	6.85
Total Shareholders' Equity	32.66M	20.34M	16.06M	18.89M	16.43M	305.72M	404.01M	677.23M	1.76B	2.18B
Common Stock	27.83K	33.41K	3.61K	4.68K	17.39K	37.39K	55.66K	160K	271K	296K
Retained Earnings	-6.43M	-19.93M	-66.94M	-93.06M	-116.4M	-138.39M	-196.05M	-332.64M	-479.22M	-125.89M
Treasury Stock	0	0	0	0	0	0	0	0	0	-145M
Accumulated OCI	0	0	0	0	0	-5.39K	110.11K	226K	418K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	-438.17K	-1.36M	-1.26M	-5.7M	-6.64M	-23.99M	73.46M	-17.25M	-233.66M	-461.03M
Operating CF Margin %	-5.34%	-3.04%	-2.18%	-1.26%	-0.66%	-0.61%	0.56%	-0.1%	-0.62%	-0.6%
Operating CF Growth %	-1.3%	-2.11%	0.07%	-3.52%	-0.17%	-2.61%	4.06%	-1.23%	-12.55%	-0.97%
Net Income	-2.54M	-13.5M	-47.01M	-26.12M	-23.35M	-8.23M	-40.09M	-138.15M	-145.78M	364.46M
Depreciation & Amortization	578.46K	3.32M	2.23M	3.36M	2.84M	9.34M	49.16M	120.73M	154.61M	348.33M
Stock-Based Compensation	1.54M	135.55K	1.5M	1.99M	2.05M	8.55M	31.47M	24.14M	29.55M	45.34M
Deferred Taxes	0	0	0	0	0	0	0	857K	0	0
Other Non-Cash Items	19.37K	8.68M	41.76M	16.16M	8.91M	-47.57M	20.02M	35.03M	-288.58M	-1.24B
Working Capital Changes	-40.41K	1.22K	250.25K	-1.09M	2.91M	13.93M	12.9M	-59.85M	16.53M	19.5M
Change in Receivables	-37.03K	15.15K	7.81K	-1M	31.31K	-2.01M	-530.31K	0	0	0
Change in Inventory	185.59K	0	0	-1.31M	0	-2.24M	0	0	0	0
Change in Payables	-16.31K	144	44.81K	723.83K	3.42M	5.01M	16.04M	7.67M	19.72M	32.79M
Cash from Investing+	-20.86K	-126.32K	-419.23K	-673.95K	-2.38M	-229.16M	-210.98M	-331.93M	-920.4M	-305.66M
Capital Expenditures	-9.67K	-10.68K	-15.23K	-102.76K	-34.9K	-139.24M	-190.47M	-61.46M	-806.4M	-144.66M
CapEx % of Revenue	0.12%	0.02%	0.03%	0.02%	0%	3.54%	1.45%	0.36%	2.13%	0.19%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-11.18K	-115.64K	-404K	-571.19K	-84.92K	-373.21B	3.27M	-238.56M	-59.48M	-161M
Cash from Financing+	807.02K	1.11M	2.04M	13.8M	4.31M	268.06M	139.95M	357.93M	1.25B	688.87M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	-178K	-315K	-21K	-3.42M	-10.74M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	44.94K	4.36K	0	3.75M	-2.01M	-5.42M	-21.93M	-94.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-459.02K	-1.5M	-1.68M	-6.37M	-6.76M	-252.56M	-117.23M	-318.12M	-1.04B	-605.69M
FCF Margin %	-5.6%	-3.34%	-2.9%	-1.41%	-0.67%	-6.43%	-0.89%	-1.89%	-2.74%	-0.79%
FCF Growth %	-0.7%	-2.26%	-0.12%	-2.79%	-0.06%	-36.35%	0.54%	-1.71%	-2.27%	0.42%
FCF per Share	-0.20	-0.46	-0.49	-1.53	-0.71	-8.58	-2.75	-3.10	-4.80	-1.91
FCF Conversion (FCF/Net Income)	0.17x	0.10x	0.03x	0.22x	0.28x	1.10x	-1.28x	0.12x	1.60x	-1.26x
Interest Paid	0	0	0	0	0	0	0	0	2.13M	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-15.2%	-50.94%	-258.29%	-149.49%	-132.23%	-13.54%	-16.15%	-25.55%	-11.96%	18.52%
Return on Invested Capital (ROIC)	-11.59%	-13.69%	-28.52%	-80.75%	-81.03%	-5.82%	-8.13%	-18.36%	-9.43%	11.92%
Gross Margin	61.89%	33.86%	32.47%	14.82%	21.15%	32.69%	37.54%	17.29%	56.32%	55.23%
Net Margin	-3097.08%	-3013.42%	-8123.6%	-576.15%	-232.78%	-55.52%	-43.59%	-82.03%	-38.47%	47.56%
Debt / Equity	0.00x	0.01x	0.07x	0.16x	0.03x	0.01x	0.05x	0.02x	0.04x	0.08x
Interest Coverage	-79414.09x	-1662.87x	-7.65x	-1.75x	-1.41x	-81.65x	-35.12x	-44.02x	-60.71x	28.14x
FCF Conversion	0.17x	0.10x	0.03x	0.22x	0.28x	1.10x	-1.28x	0.12x	1.60x	-1.26x
Revenue Growth	-	446.09%	29.17%	683.4%	121.24%	291.73%	234.78%	28.04%	125.03%	102.21%

Revenue by Segment

	2020	2021
Consolidated Revenues	-	49.44M
Consolidated Revenues Growth	-	-
Other Revenue And Eliminations	-	1.59M
Other Revenue And Eliminations Growth	-	-
Consolidated	10.03M	-
Consolidated Growth	-	-
Energy	9.02M	-
Energy Growth	-	-
P2K	1.13M	-
P2K Growth	-	-
Inter	-119.56K	-
Inter Growth	-	-

Frequently Asked Questions

Valuation & Price

CleanSpark, Inc. (CLSK) has a price-to-earnings (P/E) ratio of 11.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

CleanSpark, Inc. (CLSK) reported $766.3M in revenue for fiscal year 2025.

CleanSpark, Inc. (CLSK) grew revenue by 102.2% over the past year. This is strong growth.

Yes, CleanSpark, Inc. (CLSK) is profitable, generating $364.5M in net income for fiscal year 2025 (47.6% net margin).

Dividend & Returns

Yes, CleanSpark, Inc. (CLSK) pays a dividend with a yield of 0.27%. This makes it attractive for income-focused investors.

CleanSpark, Inc. (CLSK) has a return on equity (ROE) of 18.5%. This is reasonable for most industries.

CleanSpark, Inc. (CLSK) had negative free cash flow of $605.7M in fiscal year 2025, likely due to heavy capital investments.