CleanSpark, Inc. (CLSK) Stock

CleanSpark, Inc. (CLSK) is a Financials stock trading at $12.52 (as of 2026-08-20), with a market capitalization of $3.22B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

CleanSpark, 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.

Understand CleanSpark, Inc.: how it makes money

CleanSpark mines bitcoin and also sells energy technology solutions, including engineering, design and software plus custom hardware and energy storage, aimed at microgrids and distributed energy systems.

The profit engine mixes (1) bitcoin mining output, which converts mining capacity into digital currency mining revenue, and (2) energy technology solution revenue, but company-level profitability is heavily constrained by operating expenses, as shown by a strongly negative operating margin despite positive gross margin.

Revenue by segment (latest quarter)
Digital Mining$0.0B
Energy$0.1B

Business quality (Weak): Clear segment definitions and several mining related operational KPIs are provided, but segment revenue figures are not fully explicit, so part of the segment split relies on reconciling to total revenue.

Bull case

  • Mining production visibility: The company reports an operating production metric, Bitcoin mined (1799).
  • Capacity and deployment progress indicators: It tracks machine delivery funding and machines that are fully installed and hashing (both listed as 0.12 USD_B in the provided KPI candidates).
  • Two-segment business model: It operates in Digital Currency Mining and Energy, which includes engineering, software, custom hardware, and platforms for energy assets.

Bear case

  • Loss-making at the operating line: Operating margin is deeply negative (-239.2), which indicates operating expenses dominate even with a gross margin of 56.6% (based on the provided figures).
  • Dependence on power and mining economics: Operational KPIs include power price (Power price per kilowatt-hour is listed as 5.2), which can materially affect bitcoin mining economics.
  • Energy segment profitability may be less visible in the current snapshot: The provided KPI candidate list includes Energy segment revenue as 0.0 USD_B, suggesting limited current contribution is visible in the provided data.
Valuation — source: SEC EDGAR (first-party)
Price$12.52
Market Cap$3.22B
Price / Book4.22
Price / Sales9.59
FCF Yield-37.7%
DCF Value (model)$18.47
DCF Upside vs Price47.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$766.31M
Net Margin47.6%
Revenue Growth (YoY)102.2%
FCF Growth (YoY)102.1%
Financial Health — source: SEC EDGAR
Altman Z-Score2.80 (grey)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Financials)15.1
Industry P/E (Banking)12.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($355.23M)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryBanking
CEOS. Matthew Schultz
Employees256
CountryUS
IPO Date2016-11-16

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CLSK earnings history · CLSK institutional & insider holders · CLSK KPIs & operating metrics · CLSK financials · CLSK investor presentations & press releases · CLSK SEC filings · CLSK peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.