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US bitcoin miner operating low-cost, mostly domestic mining facilities.
US bitcoin miner operating low-cost, mostly domestic mining facilities.
Earns bitcoin as the reward for validating transactions, so revenue depends on bitcoin's price and its share of the network's computing power. It owns its sites and machines, mostly in Georgia and Tennessee, rather than renting hosting space, which gives it control of costs. It began as a software and microgrid business.
Moat: none (cost advantage, scale). Focus on low-cost US power sites, but mining economics are set by network difficulty and bitcoin price.
Headquarters: Las Vegas, Nevada, US · Founded: 2014 · Employees: 314
Size CleanSpark (CLSK) is a United States Financials company (Data Processing Services) with a market value of $1.58B, the 1954th largest of 3,117 United States companies the cockpit tracks. Shares closed at $6.16 on 6 Nov 2026.
Performance Over six months the shares fell 56.6%, against +7.0% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 7.5% over the last twelve months (peer median +8.7%); the operating margin is -51.8% (peer median 33.1%).
Valuation It trades at 2.08× book value against a peer median of 1.64× (5th most expensive of 21).
Price implies The share price implies a return on equity of about 38.0%; CleanSpark delivers -68.6%, so the price asks more than the business earns today.
Credit CleanSpark has 1 bond outstanding ($650M).
Next results Next results expected around 16 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $679M | $766M | $379M | $168M | $132M |
| Revenue growth | — | +102% | +125% | +28% | — |
| Gross profit | -$251M | -$29.5M | -$15.3M | -$91.6M | $325,755 |
| EBITDA | $89.5M | $241M | $95.4M | -$2.58M | $32.6M |
| Net income | -$998M | $364M | -$146M | -$138M | -$57.3M |
| Free cash flow | -$620M | -$606M | -$300M | -$78.7M | $12.0M |
| Capital expenditure | $91.3M | $145M | $66.1M | $61.5M | $190M |
| Total debt | $1.78B | $821M | $67.0M | $16.4M | $22.2M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| CleanSpark CLSK | $1.58B | -57% | +7% | -69% | 2.08× | 38.0% |
| MARA MARA | $2.45B | -51% | +1% | -107% | 1.46× | 27.6% |
| RIOT RIOT | $6.27B | -31% | +6% | -51% | 2.94× | 52.5% |
| Iren IREN | $8.76B | -65% | +42% | -23% | 1.97× | 36.1% |
| Core Scientific CORZ | $3.78B | -49% | +26% | n/a | n/a | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CLSK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -42.0% | +1.0% | 2nd lowest of 21 |
| 6-month return | -56.6% | +7.0% | lowest of 21 |
| Return on equity | -68.6% | 10.9% | lowest of 21 |
| Price / book | 2.08× | 1.64× | 5th most expensive of 21 |
| ROE the price implies | 38.0% | 10.8% | 2nd most demanding of 21 |
| ROE delivered | -68.6% | 11.1% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| CleanSpark CLSK | United States | $1.58B | -57% | +7% | -69% | 2.08× | 38.0% | -68.6% |
| Pathward Financial CASH | United States | $1.58B | -12% | -1% | 21% | 1.93× | 12.8% | 20.9% |
| Republic Bancorp RBCAA | United States | $1.59B | +17% | -2% | 12% | 1.52× | 10.1% | 11.5% |
| Live Oak Bancshares LOB | United States | $1.57B | -10% | +9% | 11% | 1.30× | 17.1% | 11.1% |
| Esquire Financial ESQ | United States | $1.57B | +21% | +33% | 11% | 2.00× | 10.2% | 10.5% |
| Trupanion TRUP | United States | $1.61B | +49% | +12% | 6% | 3.94× | 35.3% | 6.1% |
| Patria Investments PAX | United States | $1.55B | -23% | +9% | 12% | 2.74× | 18.9% | 12.3% |
| National Bank NBHC | United States | $1.63B | -14% | +14% | 4% | 1.01× | 9.0% | 3.6% |
| ConnectOne Bancorp CNOB | United States | $1.63B | +8% | +24% | 10% | 1.10× | 10.7% | 9.6% |
| Safety Insurance SAFT | United States | $1.53B | +46% | +7% | 8% | 1.75× | 8.9% | 7.8% |
| Bank First BFC | United States | $1.64B | +1% | +33% | 12% | 1.98× | 10.9% | 11.9% |
| TOP Financial TOP | United States | $1.64B | +93% | -41% | -3% | 14.01× | 50.1% | n/a |
| Origin Bancorp OBK | United States | $1.64B | +14% | +5% | 10% | 1.29× | 10.1% | 10.4% |
| QCR QCRH | United States | $1.64B | +11% | +3% | 13% | 1.43× | 10.9% | 12.7% |
| TWFG TWFG | United States | $1.52B | +47% | +33% | 14% | 7.79× | 29.2% | 13.6% |
| Lakeland Financial LKFN | United States | $1.51B | -1% | +2% | 15% | 2.07× | 14.8% | 15.4% |
| AMTD IDEA Group Sponsored ADR AMTD | United States | $1.50B | -52% | +14% | 2% | 0.01× | 3.1% | 1.6% |
| TriCo Bancshares TCBK | United States | $1.67B | +2% | +4% | 11% | 1.26× | 9.6% | 10.6% |
| Hope Bancorp HOPE | United States | $1.68B | +6% | +7% | 6% | 0.75× | 7.6% | 5.9% |
| Inter & INTR | United States | $1.70B | -40% | +51% | 16% | 0.84× | 8.8% | 15.5% |
| Amalgamated Financial AMAL | United States | $1.47B | +18% | +12% | 15% | 1.77× | 13.0% | 15.3% |
CleanSpark has 1 bond outstanding with $650M face value.