CleanSpark (CLSK) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

CleanSpark

NasdaqCM•Financial Services•Capital Markets

$13.96+0.61(0.05%)Market open

CleanSpark, Inc. operates as a bitcoin mining company in the Americas. The company owns, leases, and operates data centers and power assets. Its infrastructure supports Bitcoin, a digital commodity. 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.

How this company scores

WeakMetricSide Score: 25/100

Grade capped at D — Interest coverage below 1× (-109.5x) — earnings cannot cover interest. Strongest: Growth (13/25); weakest: Balance Sheet & Red Flags (3/25).

Profitability5/25

Growth13/25

Balance Sheet & Red Flags3/25

Cash & Earnings Quality4/25

Strengths

Consistent growthImproving marginsNo share dilution

Grade capped at D

Interest coverage below 1× (-109.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 11.5x5y range 10.2x – 61.2x

Currently below its 4-quarter median.

P/S · 3.0x5y range 1.0x – 13.7x

Currently below its 19-quarter median.

P/B · 2.2x5y range 0.3x – 2.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 674.0% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $679.25M
Q. Revenue: $138.01M
TTM EBITDA: $-452.24M
TTM Op. Income: $-893.80M
Q. Op. Income: $-232.40M
TTM Net Income: $-997.82M
Q. Net Income: $-239.84M
EPS: N/A
Shares Out.: $0

$679.25M in TTM revenue grew 7.5% YoY, reaching $138.01M last quarter. TTM EBITDA of $-452.24M and TTM operating income of $-893.80M show growth is flowing through to the bottom line. However, net income is negative at $997.82M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 38.1%
EBITDA Margin: -87.9%
Op. Margin: -168.4%
Net Margin: -173.8%

Op. margin of -168.4% is down 292.3% YoY — costs are rising relative to revenue. Net margin at -173.8% and gross margin of 38.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 236% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: N/A

P/S of 0.0x and P/B of 0.0x. Over the past year, P/E is up 0% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.70B
Cash: $202.60M
Long-Term Debt: $1.78B
Book Value: $761.28M
D/E Ratio: 2.3
Debt/EBITDA: N/A

With $2.70B in assets and $1.78B in long-term debt, D/E is 2.3and book value is $761.28M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-112.33M
TTM Free Cash Flow: $-620.00M
FCF Margin: -91.3%
FCF / Net Income: 0.6

TTM FCF of $-620.00M on $-112.33M in operating cash flow. The FCF / Net Income ratio of 0.6x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 9% — an improving trend.