Cleanspark (CLSK) Financials

$13.98 -0.52 (-3.59%)

Closing price 05/7/2026 04:00 PM Eastern

Extended Trading

$14.16 +0.18 (+1.28%)

As of 08:10 AM Eastern

Annual Income Statements for Cleanspark

This table shows Cleanspark's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2014	9/30/2015	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-0.07	-3.49	-13	-47	-26	-23	-22	-58	-138	-149	353
Consolidated Net Income / (Loss)	-0.05	-3.49	-13	-47	-26	-23	-22	-57	-138	-146	364
Net Income / (Loss) Continuing Operations	-0.07	-3.49	-13	-47	-26	-23	-8.23	-40	-134	-146	364
Total Pre-Tax Income	-0.07	-3.49	-13	-47	-26	-23	-8.23	-40	-134	-146	364
Total Operating Income	-0.06	-3.48	-13	-7.08	-17	-15	-12	-38	-131	-149	319
Total Gross Profit	0.00	0.00	0.15	0.19	0.67	2.12	34	90	75	213	423
Total Revenue	0.00	0.00	0.45	1.16	4.53	10	39	132	168	379	766
Operating Revenue	0.00	0.00	0.45	1.16	4.53	10	39	132	168	379	766
Total Cost of Revenue	0.00	0.00	0.30	0.78	3.86	7.91	5.26	41	94	166	343
Operating Cost of Revenue	0.00	0.00	0.30	0.78	3.86	7.91	5.26	41	94	166	343
Total Operating Expenses	0.06	3.48	14	7.26	17	17	46	128	206	362	104
Selling, General & Admin Expense	0.06	3.42	1.38	1.55	5.75	7.61	12	17	32	44	66
Depreciation Expense	0.00	0.00	2.25	0.85	1.90	2.84	8.98	49	121	155	348
Other Operating Expenses / (Income)	-	-	0.26	1.58	1.27	6.81	18	38	44	-39	-310
Impairment Charge	-	-	8.55	1.90	6.92	0.00	6.61	25	7.16	198	0.00
Other Special Charges / (Income)	-	0.00	-0.01	-	-	-	0.00	-0.64	1.93	5.47	-0.34
Total Other Income / (Expense), net	-0.01	-0.01	-0.12	-40	-9.46	-8.20	3.67	-2.23	-2.68	3.27	46
Interest Expense	-0.05	0.01	0.12	0.97	9.48	11	0.15	1.08	2.98	2.46	11
Interest & Investment Income	-	-	-	-	0.00	0.31	0.22	0.19	0.48	8.56	4.13
Other Income / (Expense), net	-0.06	-	0.00	-39	0.02	2.25	3.59	-1.34	-0.18	-2.83	53
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-14	-17	0.00	0.00	0.00
Preferred Stock Dividends Declared	-	-	-	-	-	0.00	0.18	0.34	0.00	3.42	11
Weighted Average Basic Shares Outstanding	10.70M	19.23M	32.18M	3.45M	4.18M	9.55M	29.44M	42.61M	102.71M	216.86M	282.18M
Weighted Average Diluted Shares Outstanding	3.57M	20.37M	-	-	4.78M	9.55M	29.44M	85.23M	205.42M	433.72M	635.52M
Weighted Average Basic & Diluted Shares Outstanding	3.57M	20.37M	-	-	4.78M	9.55M	29.44M	42.61M	102.71M	216.86M	282.18M

This table shows Cleanspark's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2025	3/31/2025	6/30/2025	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-18	-14	-76	25	124	-236	-62	-379	-139	252	-1.74
Consolidated Net Income / (Loss)	-18	-14	-76	26	127	-236	-62	-379	-139	257	-0.93
Net Income / (Loss) Continuing Operations	-18	-14	-71	26	127	-236	-62	-379	-139	257	-0.93
Total Pre-Tax Income	-18	-14	-71	27	138	-246	-62	-379	-142	275	-25
Total Operating Income	-17	-16	-69	29	137	-249	-66	-317	-138	246	0.83
Total Gross Profit	20	25	22	45	78	59	32	86	96	109	126
Total Revenue	43	46	53	74	112	104	89	181	182	199	224
Operating Revenue	43	46	53	74	112	104	89	181	182	199	224
Total Cost of Revenue	22	21	30	29	34	45	57	96	85	90	97
Operating Cost of Revenue	22	21	30	29	34	45	57	96	85	90	97
Total Operating Expenses	38	40	91	16	-60	308	98	402	234	-138	126
Selling, General & Admin Expense	8.08	7.29	9.77	6.58	9.03	13	16	21	15	20	18
Depreciation Expense	21	22	58	30	32	41	52	106	79	95	108
Other Operating Expenses / (Income)	8.33	11	15	-21	-103	65	19	274	143	-252	-3.48
Other Special Charges / (Income)	0.00	0.00	1.93	0.68	1.65	-0.05	3.18	-0.22	-2.23	0.16	2.53
Total Other Income / (Expense), net	-0.68	1.47	-1.86	-1.20	1.21	3.34	3.42	-62	-3.81	29	-26
Interest Expense	0.80	0.69	0.60	0.55	0.53	0.49	0.90	3.93	1.27	3.45	5.06
Interest & Investment Income	0.05	0.05	0.31	0.59	2.68	2.64	2.65	2.19	2.01	0.36	0.28
Other Income / (Expense), net	0.07	2.11	-1.57	-1.24	-0.95	1.19	1.67	-60	-4.56	32	-21
Preferred Stock Dividends Declared	0.00	0.00	-	0.58	2.84	0.00	0.00	0.00	0.00	5.60	0.40
Weighted Average Basic Shares Outstanding	80.47M	114.84M	102.71M	178.81M	209.29M	228.64M	216.86M	281.47M	280.85M	281.00M	282.18M
Weighted Average Diluted Shares Outstanding	160.94M	114.84M	205.42M	180.78M	212.10M	228.64M	433.72M	281.47M	280.85M	325.59M	635.52M
Weighted Average Basic & Diluted Shares Outstanding	80.47M	229.69M	102.71M	198.06M	209.29M	228.64M	216.86M	255.75M	280.94M	281.08M	282.18M

This table details how cash moves in and out of Cleanspark's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2014	9/30/2015	9/30/2017	9/23/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	0.12	-0.03	-0.38	0.36	7.43	-4.71	15	2.42	8.75	95	-78
Net Cash From Operating Activities	-0.10	-0.19	-1.36	-1.26	-5.70	-6.64	-24	73	-17	-234	-461
Net Cash From Continuing Operating Activities	-0.01	-6.68	-2.42	-81	-4.87	-6.32	-12	80	-19	-233	-461
Net Income / (Loss) Continuing Operations	-0.05	-3.49	-13	-47	-26	-23	-8.23	-40	-134	-146	364
Consolidated Net Income / (Loss)	-0.05	-3.49	-13	-47	-26	-23	-22	-57	-138	-146	364
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-14	-17	-4.43	0.00	0.00
Depreciation Expense	0.00	0.00	2.25	0.85	1.90	2.84	9.34	49	121	155	348
Non-Cash Adjustments To Reconcile Net Income	-0.04	-3.24	8.82	3.44	7.51	2.16	-17	56	-22	-259	-1,232
Changes in Operating Assets and Liabilities, net	-0.06	0.04	0.01	-39	2.81	3.02	3.59	15	16	17	59
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-	-12	-6.36	1.33	-0.51	0.00
Net Cash From Investing Activities	-0.00	-0.08	-0.13	-0.42	-0.67	-2.38	-229	-211	-332	-920	-306
Net Cash From Continuing Investing Activities	-0.00	-0.08	-0.13	-0.42	0.46	0.07	-228	-211	-334	-920	-306
Purchase of Property, Plant & Equipment	0.00	-0.08	-0.01	-0.02	0.47	0.05	-139	-19	-302	-66	-145
Acquisitions	-0.00	-0.00	-0.03	-0.01	-0.00	0.77	0.00	-23	-	-52	-5.49
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	0.37	0.01	0.00	0.00	9.65
Other Investing Activities, net	-	0.00	-0.09	-0.40	-	0.00	-89	-168	-32	-802	-165
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-	-1.00	0.00	2.25	0.00	0.00
Net Cash From Financing Activities	0.22	0.24	1.11	2.04	14	4.31	268	140	358	1,249	689
Net Cash From Continuing Financing Activities	0.22	0.24	1.11	2.04	14	4.31	268	140	358	1,249	689
Repayment of Debt	-0.04	0.00	-0.03	-0.17	-1.64	-0.22	-	-	-14	0.00	-2.01
Repurchase of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	-145
Payment of Dividends	-	-	-	-	-	0.00	-0.18	-0.32	-0.02	-3.42	-11
Issuance of Debt	0.07	-	0.11	1.89	15	0.53	-	0.00	1.94	50	889
Issuance of Common Equity	0.20	0.24	0.88	0.27	0.36	4.00	271	123	376	1,232	187
Other Financing Activities, net	-	-	0.15	0.04	0.00	0.00	-2.42	17	-5.72	-29	-229
Cash Interest Paid	0.00	0.00	0.00	0.11	0.06	0.01	0.16	1.03	2.91	2.13	8.88

This table details how cash moves in and out of Cleanspark's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Net Change in Cash & Equivalents	8.28	11	7.38	19	275	-194	-4.89	156	-180	-62	8.44
Net Cash From Operating Activities	6.76	5.80	-35	-48	-43	-68	-83	-119	-112	-110	-119
Net Cash From Continuing Operating Activities	6.42	5.44	-35	-47	-43	-68	-83	-119	-112	-110	-119
Net Income / (Loss) Continuing Operations	-18	-14	-71	26	127	-236	-62	247	-139	257	-0.93
Consolidated Net Income / (Loss)	-18	-14	-76	26	127	-236	-62	247	-139	257	-0.93
Depreciation Expense	21	22	58	30	32	41	52	66	79	95	108
Non-Cash Adjustments To Reconcile Net Income	4.40	-1.73	-37	-98	-218	136	-80	-424	-47	-492	-270
Changes in Operating Assets and Liabilities, net	-1.18	-0.55	15	-5.46	17	-8.45	7.98	-8.86	-5.49	30	43
Net Cash From Investing Activities	-55	-128	-93	-33	-199	-272	-417	-256	-60	-125	135
Net Cash From Continuing Investing Activities	-55	-128	-93	-33	-199	-272	-417	-256	-60	-125	135
Purchase of Property, Plant & Equipment	-17	-21	-20	-76	-15	-439	415	-57	-66	-171	372
Acquisitions	-	-9.39	23	0.00	-23	-26	49	1.41	-5.49	-1.41	8.11
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	0.00	-	-	9.24
Other Investing Activities, net	-38	-98	-95	44	-160	193	-881	-200	11	47	-253
Net Cash From Financing Activities	56	134	135	100	516	146	494	531	-7.38	173	-7.65
Net Cash From Continuing Financing Activities	56	134	135	100	516	146	494	531	-7.38	173	-7.65
Payment of Dividends	-	-0.02	-	-	-	-2.84	-	0.00	-	-	-5.60
Issuance of Debt	-	-	-	0.00	-	-	-	636	-	177	77
Other Financing Activities, net	-2.06	-2.16	-7.60	-9.18	-13	-1.85	43	-144	-2.24	-3.74	-79
Cash Interest Paid	0.86	0.61	0.63	0.52	0.50	0.45	0.65	1.40	0.49	2.69	4.30

This table presents Cleanspark's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2014	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	0.76	42	21	18	23	22	317	453	762	1,963	3,184
Total Current Assets	0.14	0.60	0.13	0.55	9.88	8.25	58	51	102	705	1,320
Cash & Equivalents	0.12	0.44	0.06	0.41	7.84	3.13	18	20	29	121	43
Restricted Cash	-	-	-	-	-	-	-	-	0.00	3.06	3.49
Short-Term Investments	-	-	-	-	0.00	0.96	0.76	0.61	3.42	0.92	0.23
Prepaid Expenses	0.02	0.06	0.03	0.05	1.21	0.94	2.14	7.93	3.26	8.00	12
Other Current Assets	-	-	0.00	0.05	0.06	2.12	36	22	10	80	1,261
Plant, Property, & Equipment, net	0.58	0.78	0.13	0.09	0.15	0.12	138	377	564	870	1,364
Total Noncurrent Assets	0.04	40	21	17	13	14	122	25	95	388	500
Goodwill	-	4.92	4.92	4.92	4.92	5.90	12	0.00	8.04	8.04	132
Intangible Assets	0.04	2.47	16	12	8.49	8.03	8.22	6.49	4.60	3.04	5.85
Other Noncurrent Operating Assets	0.00	33	-0.01	-	0.00	0.04	102	17	82	376	362
Total Liabilities & Shareholders' Equity	0.76	33	21	18	23	22	317	453	762	1,963	3,184
Total Liabilities	0.05	0.36	0.45	1.50	4.55	5.91	12	49	86	202	1,009
Total Current Liabilities	0.01	0.36	0.30	1.35	1.50	5.38	10	34	74	188	316
Short-Term Debt	0.00	0.06	0.06	0.31	0.07	-	0.00	7.79	6.99	59	177
Accounts Payable	0.01	0.29	0.22	0.51	0.94	4.53	6.98	25	40	83	15
Accrued Expenses	-	-	-	-	-	-	-	-	26	44	118
Dividends Payable	-	-	-	-	-	-	0.00	0.02	-	0.00	0.40
Other Current Liabilities	-	-	-0.01	-0.39	0.50	0.86	1.64	0.37	0.31	2.24	6.10
Total Noncurrent Liabilities	0.04	0.00	0.15	0.15	3.05	0.53	1.69	15	12	14	693
Long-Term Debt	0.04	-	0.15	0.15	3.05	0.53	0.00	13	8.91	7.18	645
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	0.00	2.42	5.76	45
Other Noncurrent Operating Liabilities	-	-	-	0.00	0.00	0.00	1.02	0.45	0.53	1.00	3.28
Total Equity & Noncontrolling Interests	0.71	33	20	16	19	16	306	404	676	1,761	2,175
Total Preferred & Common Equity	0.71	33	20	16	19	16	306	404	676	1,761	2,175
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.71	33	20	16	19	16	306	404	676	1,761	2,175
Common Stock	1.12	39	40	83	112	133	444	600	1,010	2,240	2,446
Retained Earnings	-0.41	-6.43	-20	-67	-93	-116	-138	-196	-334	-479	-126
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	0.00	-0.01	0.11	0.23	0.42	0.00
Other Equity Adjustments	-	-0.05	-	-	-	-	-	-	-	-	-145

This table presents Cleanspark's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2025	3/31/2025	6/30/2025
Total Assets	411	487	532	653	863	1,537	1,476	3,326	2,657	3,102
Total Current Assets	29	21	33	53	182	688	599	1,471	947	1,210
Cash & Equivalents	2.66	2.06	10	22	-	-	126	458	97	35
Restricted Cash	-	-	-	-	48	323	3.02	3.19	3.44	3.46
Short-Term Investments	0.82	0.64	0.67	0.70	0.76	0.78	0.81	0.00	3.90	4.41
Note & Lease Receivable	-	-	-	-	-	-	428	-	0.00	0.00
Inventories, net	0.00	0.39	0.75	1.04	0.73	0.99	-	-	-	877
Prepaid Expenses	3.73	6.07	8.70	8.34	2.97	4.13	7.66	35	10	11
Other Current Assets	22	12	12	21	129	359	33	974	833	279
Plant, Property, & Equipment, net	322	435	440	482	637	671	568	1,358	1,272	1,329
Total Noncurrent Assets	59	31	58	118	44	179	308	497	438	562
Goodwill	12	8.04	8.04	8.04	8.04	8.04	8.04	132	132	129
Intangible Assets	6.81	6.21	5.70	5.12	4.09	3.74	3.58	4.91	6.98	6.96
Other Noncurrent Operating Assets	41	17	45	105	31	167	297	360	299	427
Total Liabilities & Shareholders' Equity	411	487	532	653	863	1,537	1,476	3,326	2,657	3,102
Total Liabilities	34	60	58	49	52	74	73	1,944	767	955
Total Current Liabilities	20	42	41	37	42	55	67	139	109	277
Short-Term Debt	5.36	7.50	7.25	7.08	7.42	7.69	9.67	2.53	5.42	176
Accounts Payable	13	28	31	30	33	44	56	22	11	23
Accrued Expenses	-	-	-	-	-	-	-	104	88	64
Dividends Payable	0.02	0.02	0.02	0.00	0.58	2.84	-	0.00	0.00	5.60
Other Current Liabilities	0.60	5.32	2.34	0.36	0.27	0.23	0.22	11	4.60	6.83
Total Noncurrent Liabilities	14	18	16	12	9.78	19	6.39	1,804	657	678
Long-Term Debt	13	12	10	11	7.05	5.09	1.31	1,787	642	644
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	2.26	14	4.36	13	12	31
Other Noncurrent Operating Liabilities	1.23	5.59	5.59	0.58	0.47	0.43	0.72	4.21	3.52	3.42
Total Equity & Noncontrolling Interests	377	427	474	604	811	1,463	1,402	1,382	1,890	2,147
Total Preferred & Common Equity	377	427	474	604	811	1,463	1,402	1,382	1,890	2,147
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	377	427	474	604	811	1,463	1,402	1,382	1,890	2,147
Common Stock	531	652	717	861	1,113	1,642	1,817	2,495	2,408	2,413
Retained Earnings	-154	-225	-244	-258	-303	-179	-415	-505	-376	-125
Treasury Stock	-	-	-	-	-	-	-	-	-145	-145
Accumulated Other Comprehensive Income / (Loss)	0.07	0.14	0.17	0.20	0.26	0.28	0.31	0.00	3.40	3.17

This table displays calculated financial ratios and metrics derived from Cleanspark's official financial filings.

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2014	9/30/2015	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-100.00%	0.00%	158.34%	291.68%	121.25%	291.75%	234.78%	28.04%	125.03%	102.21%
EBITDA Growth	-210.32%	-4,373.89%	0.00%	-300.34%	87.26%	81.51%	198.34%	858.32%	-205.42%	127.44%	26,254.65%
EBIT Growth	-376.07%	-2,818.56%	0.00%	-244.15%	63.96%	22.29%	35.60%	-372.02%	-234.74%	-15.74%	344.72%
NOPAT Growth	-136.50%	-5,774.96%	0.00%	47.11%	-134.79%	8.85%	21.43%	-218.23%	-246.09%	-13.74%	405.71%
Net Income Growth	-42.09%	-7,619.58%	0.00%	-248.23%	44.44%	10.61%	6.57%	-162.82%	-140.99%	-5.52%	350.01%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	60.96%	88.11%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-486.66%	-84.21%	0.00%	7.44%	-352.03%	-16.58%	-261.09%	406.25%	-123.48%	-1,254.80%	-97.31%
Free Cash Flow Firm Growth	-865.84%	-160.56%	0.00%	0.00%	-496.55%	-6.13%	-2,955.39%	50.09%	-144.60%	-229.38%	18.86%
Invested Capital Growth	6,033.53%	-100.00%	0.00%	-16.99%	-16.79%	-9.10%	2,145.59%	39.96%	63.18%	157.50%	73.38%
Revenue Q/Q Growth	0.00%	-100.00%	0.00%	252.20%	56.31%	-3.54%	83.72%	49.44%	-6.05%	10.74%	21.26%
EBITDA Q/Q Growth	1.88%	-1,161.53%	0.00%	-911.18%	84.64%	26.96%	107.63%	-40.07%	-406.02%	-27.00%	16.78%
EBIT Q/Q Growth	-50.53%	-1,028.57%	0.00%	-1,366.88%	62.72%	17.09%	60.60%	-110.46%	-73.80%	3.29%	14.47%
NOPAT Q/Q Growth	25.22%	-1,028.57%	0.00%	-369.52%	-54.43%	12.04%	58.08%	-166.20%	-70.53%	2.29%	26.31%
Net Income Q/Q Growth	64.17%	-1,269.70%	0.00%	-663.85%	-485.86%	23.86%	7.21%	-181.11%	-32.82%	8.01%	20.20%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	73.39%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	50.84%	-79.98%	0.00%	1.61%	7.37%	-85.29%	0.44%	48.04%	-147.07%	-17.39%	-8.66%
Free Cash Flow Firm Q/Q Growth	-13.64%	-367.52%	0.00%	0.00%	69.54%	-69.79%	-8.46%	1.46%	-33.21%	-44.65%	33.31%
Invested Capital Q/Q Growth	35.65%	-100.00%	0.00%	1,058.57%	-37.74%	-20.42%	11.76%	3.00%	10.07%	32.40%	0.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.60%	0.00%	33.86%	16.23%	14.82%	21.15%	86.60%	68.65%	44.43%	56.32%	55.23%
EBITDA Margin	-3,041.84%	0.00%	-2,484.01%	-3,849.37%	-125.18%	-10.46%	2.63%	7.52%	-6.19%	0.75%	93.96%
Operating Margin	-2,318.28%	0.00%	-2,986.46%	-611.43%	-366.53%	-151.00%	-30.29%	-28.79%	-77.81%	-39.33%	41.62%
EBIT Margin	-4,666.61%	0.00%	-2,986.46%	-3,978.38%	-366.10%	-128.59%	-21.14%	-29.81%	-77.92%	-40.08%	48.50%
Profit (Net Income) Margin	-1,766.93%	0.00%	-3,013.31%	-4,061.81%	-576.18%	-232.79%	-55.52%	-43.59%	-82.03%	-38.47%	47.56%
Tax Burden Percent	61.57%	100.00%	100.00%	100.40%	100.15%	100.00%	265.06%	143.00%	103.31%	100.00%	100.00%
Interest Burden Percent	61.49%	100.15%	100.90%	101.69%	157.15%	181.03%	99.09%	102.27%	101.90%	95.98%	98.06%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-13.22%	0.00%	-45.68%	-26.41%	-74.60%	-78.43%	-5.52%	-7.64%	-17.23%	-8.84%	13.71%
ROIC Less NNEP Spread (ROIC-NNEP)	-43.74%	0.00%	-2,664.76%	-7,545.36%	695.11%	229.44%	127.76%	373.66%	599.74%	99.33%	26.43%
Return on Net Nonoperating Assets (RNNOA)	-1.75%	0.00%	-20.68%	-231.89%	-74.89%	-53.80%	-8.02%	-8.51%	-8.36%	-3.12%	4.81%
Return on Equity (ROE)	-14.97%	-984.09%	-66.36%	-258.29%	-149.49%	-132.23%	-13.54%	-16.15%	-25.59%	-11.97%	18.52%
Cash Return on Invested Capital (CROIC)	-108.19%	-563.78%	0.00%	-7.84%	-56.28%	-68.89%	-188.46%	-40.95%	-65.25%	-96.95%	-39.97%
Operating Return on Assets (OROA)	-31.23%	0.00%	-49.72%	-240.12%	-80.97%	-56.35%	-4.89%	-10.18%	-21.61%	-11.15%	14.44%
Return on Assets (ROA)	-11.83%	0.00%	-50.17%	-245.15%	-127.43%	-102.01%	-12.84%	-14.89%	-22.76%	-10.70%	14.16%
Return on Common Equity (ROCE)	-14.97%	-984.09%	-66.36%	-258.28%	-149.48%	-132.22%	-13.54%	-16.15%	-25.59%	-11.97%	18.52%
Return on Equity Simple (ROE_SIMPLE)	-6.37%	0.00%	-66.36%	-292.76%	-138.29%	-142.13%	-7.13%	-14.19%	-20.45%	-8.28%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.04	-2.44	-9.36	-4.95	-12	-11	-8.33	-27	-92	-104	319
NOPAT Margin	-1,622.79%	0.00%	-2,090.52%	-428.00%	-256.57%	-105.70%	-21.20%	-20.15%	-54.47%	-27.53%	41.62%
Net Nonoperating Expense Percent (NNEP)	30.51%	-2,979.94%	2,619.08%	7,518.95%	-769.71%	-307.87%	-133.27%	-381.31%	-616.97%	-108.17%	-12.72%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	10.64%
Cost of Revenue to Revenue	27.40%	0.00%	66.14%	67.53%	85.18%	78.85%	13.40%	31.35%	55.57%	43.68%	44.77%
SG&A Expenses to Revenue	2,390.88%	0.00%	308.68%	134.00%	126.77%	75.92%	31.19%	12.84%	18.82%	11.61%	8.67%
R&D to Revenue	0.00%	0.00%	238.45%	119.49%	32.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	2,390.88%	0.00%	3,014.59%	627.67%	381.35%	172.15%	116.89%	97.44%	122.25%	95.65%	13.61%
Earnings before Interest and Taxes (EBIT)	-0.12	-3.48	-13	-46	-17	-13	-8.30	-39	-131	-152	372
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.08	-3.48	-11	-45	-5.67	-1.05	1.03	9.89	-10	2.86	720
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	3.44	2.06	13.20	1.35	0.37	0.86	1.32	1.87
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	7.11	86.87	1.45	0.38	0.88	1.32	2.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	47.76	8.59	21.61	10.50	1.14	3.45	6.12	5.32
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.55
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.66%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	3.25	2.42	16.56	1.36	0.37	0.86	1.33	1.64
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	47.80	7.55	21.26	10.02	1.14	3.35	5.95	6.33
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	381.49	15.18	0.00	788.66	6.74
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.05
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15.21
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.04	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.07	0.00	0.01	0.03	0.16	0.03	0.00	0.05	0.02	0.04	0.38
Long-Term Debt to Equity	0.06	0.00	0.01	0.01	0.16	0.03	0.00	0.03	0.01	0.00	0.30
Financial Leverage	0.04	-0.10	0.01	0.03	-0.11	-0.23	-0.06	-0.02	-0.01	-0.03	0.18
Leverage Ratio	1.27	1.08	1.02	1.05	1.17	1.30	1.05	1.09	1.12	1.12	1.31
Compound Leverage Factor	0.78	1.08	1.02	1.07	1.84	2.35	1.05	1.11	1.15	1.07	1.28
Debt to Total Capital	6.14%	0.00%	1.03%	2.78%	14.15%	3.13%	0.00%	5.03%	2.30%	3.61%	27.41%
Short-Term Debt to Total Capital	0.20%	0.00%	0.30%	1.87%	0.31%	0.00%	0.00%	1.83%	1.01%	3.22%	5.89%
Long-Term Debt to Total Capital	5.94%	0.00%	0.73%	0.91%	13.85%	3.13%	0.00%	3.20%	1.29%	0.39%	21.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.01%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	93.86%	0.00%	98.97%	97.22%	85.84%	96.86%	100.00%	94.97%	97.70%	96.39%	72.59%
Debt to EBITDA	-0.60	0.00	-0.02	-0.01	-0.55	-0.51	0.00	2.16	-1.53	23.05	1.14
Net Debt to EBITDA	0.91	0.00	-0.01	0.00	0.83	3.39	0.00	0.03	1.61	-21.35	1.08
Long-Term Debt to EBITDA	-0.58	0.00	-0.01	0.00	-0.54	-0.51	0.00	1.38	-0.85	2.51	0.90
Debt to NOPAT	-1.12	0.00	-0.02	-0.09	-0.27	-0.05	0.00	-0.81	-0.17	-0.63	2.57
Net Debt to NOPAT	1.70	0.00	-0.02	-0.01	0.41	0.34	0.00	-0.01	0.18	0.59	2.43
Long-Term Debt to NOPAT	-1.08	0.00	-0.02	-0.03	-0.26	-0.05	0.00	-0.51	-0.10	-0.07	2.02
Altman Z-Score	0.00	0.00	0.00	8.13	-2.14	13.40	20.66	1.29	3.14	6.80	3.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	13.61	0.00	0.43	0.41	6.58	1.53	5.74	1.49	1.38	3.75	4.18
Quick Ratio	11.52	0.00	0.33	0.33	5.73	0.92	1.90	0.62	1.20	3.70	0.14
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-0.69	-1.80	0.00	-1.47	-8.77	-9.31	-284	-142	-347	-1,144	-930
Operating Cash Flow to CapEx	0.00%	-247.76%	-26,640.55%	-8,278.20%	0.00%	0.00%	-17.23%	380.89%	-27.42%	-348.03%	-318.70%
Free Cash Flow to Firm to Interest Expense	0.00	-349.54	0.00	-1.52	-0.93	-0.87	-1,952.23	-131.72	-116.67	-465.98	-82.02
Operating Cash Flow to Interest Expense	0.00	-37.06	-11.32	-1.31	-0.60	-0.62	-164.60	68.14	-5.79	-95.18	-40.67
Operating Cash Flow Less CapEx to Interest Expense	0.00	-52.02	-11.36	-1.32	-0.55	-0.61	-1,120.04	50.25	-26.92	-122.53	-53.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.01	0.00	0.02	0.06	0.22	0.44	0.23	0.34	0.28	0.28	0.30
Accounts Receivable Turnover	0.00	0.00	9.05	30.42	11.17	12.25	67.34	787.42	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	32.16	278.79	0.00	0.00	0.49
Fixed Asset Turnover	0.00	0.00	0.99	10.91	39.11	76.25	0.57	0.51	0.36	0.53	0.69
Accounts Payable Turnover	0.07	0.00	1.17	2.14	5.32	2.90	0.91	2.61	2.90	2.69	6.99
Days Sales Outstanding (DSO)	0.00	0.00	40.35	12.00	32.69	29.80	5.42	0.46	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	11.35	1.31	0.00	0.00	743.88
Days Payable Outstanding (DPO)	5,059.94	0.00	312.74	170.71	68.55	126.07	399.10	140.06	125.91	135.50	52.21
Cash Conversion Cycle (CCC)	-5,059.94	0.00	-272.39	-158.71	-35.86	-96.27	-382.33	-138.28	-125.91	-135.50	691.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.64	0.00	20	17	14	13	289	405	660	1,700	2,950
Invested Capital Turnover	0.01	0.00	0.02	0.06	0.29	0.74	0.26	0.38	0.32	0.32	0.33
Increase / (Decrease) in Invested Capital	0.65	-0.64	0.00	-3.48	-2.86	-1.29	276	115	256	1,040	1,249
Enterprise Value (EV)	0.00	0.00	0.00	55	34	213	394	150	565	2,256	4,850
Market Capitalization	0.00	0.00	0.00	55	39	217	413	150	582	2,317	4,076
Book Value per Share	$0.13	$0.00	$0.61	$0.46	$0.41	$0.95	$8.59	$8.58	$4.43	$7.10	$7.74
Tangible Book Value per Share	$0.12	$0.00	($0.01)	($0.02)	$0.12	$0.14	$8.02	$8.44	$4.34	$7.05	$7.25
Total Capital	0.75	0.00	21	17	22	17	306	425	692	1,827	2,996
Total Debt	0.05	0.00	0.21	0.46	3.11	0.53	0.00	21	16	66	821
Total Long-Term Debt	0.04	0.00	0.15	0.15	3.05	0.53	0.00	14	8.91	7.18	645
Net Debt	-0.07	0.00	0.15	0.05	-4.73	-3.56	-19	0.33	-17	-61	775
Capital Expenditures (CapEx)	0.00	0.08	0.01	0.02	-0.47	-0.05	139	19	63	67	145
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.01	0.00	-0.17	-0.91	0.61	-1.22	29	3.45	2.47	449	1,134
Debt-free Net Working Capital (DFNWC)	0.13	0.00	-0.11	-0.49	8.45	2.87	48	25	35	576	1,181
Net Working Capital (NWC)	0.13	0.00	-0.17	-0.80	8.38	2.87	48	17	28	518	1,004
Net Nonoperating Expense (NNE)	0.00	1.05	4.13	42	14	13	13	31	46	41	-46
Net Nonoperating Obligations (NNO)	-0.07	0.00	0.16	0.96	-4.73	-3.56	-17	0.51	-16	-61	775
Total Depreciation and Amortization (D&A)	0.04	0.00	2.25	1.49	11	12	9.34	49	121	155	348
Debt-free, Cash-free Net Working Capital to Revenue	488.65%	0.00%	-37.67%	-78.25%	13.46%	-12.13%	73.48%	2.62%	1.47%	118.56%	148.03%
Debt-free Net Working Capital to Revenue	5,057.77%	0.00%	-24.92%	-42.59%	186.40%	28.61%	121.32%	18.64%	20.85%	152.08%	154.09%
Net Working Capital to Revenue	5,000.12%	0.00%	-38.54%	-69.23%	184.91%	28.61%	121.32%	12.72%	16.70%	136.57%	131.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.01)	($0.18)	$0.00	($1.36)	($6.25)	($2.44)	($0.75)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	5.85M	19.23M	0.00	34.52M	4.18M	9.55M	41.45M	42.61M	102.71M	216.86M	282.18M
Adjusted Diluted Earnings per Share	($0.01)	($0.18)	$0.00	$0.00	$0.00	($2.44)	($0.75)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	5.85M	20.37M	0.00	0.00	4.78M	23.96M	41.45M	85.23M	205.42M	433.72M	635.52M
Adjusted Basic & Diluted Earnings per Share	($0.01)	($0.18)	$0.00	$0.00	$0.00	($2.44)	($0.75)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.57M	20.37M	0.00	0.00	4.78M	23.96M	29.44M	42.61M	102.71M	216.86M	282.18M
Normalized Net Operating Profit after Tax (NOPAT)	-0.04	-2.44	-3.39	-3.63	-6.79	-11	-3.70	-9.80	-85	38	223
Normalized NOPAT Margin	-1,622.79%	0.00%	-756.27%	-313.31%	-149.78%	-105.70%	-9.43%	-7.45%	-50.69%	10.01%	29.10%
Pre Tax Income Margin	-2,869.63%	0.00%	-3,013.31%	-4,045.58%	-575.32%	-232.79%	-20.95%	-30.48%	-79.40%	-38.47%	47.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-676.49	-111.20	-47.68	-1.75	-1.20	-56.99	-36.36	-44.08	-61.86	32.79
NOPAT to Interest Expense	0.00	-473.54	-77.84	-5.13	-1.23	-0.99	-57.15	-24.59	-30.81	-42.50	28.14
EBIT Less CapEx to Interest Expense	0.00	-691.45	-111.24	-47.70	-1.70	-1.19	-1,012.43	-54.26	-65.20	-89.21	20.03
NOPAT Less CapEx to Interest Expense	0.00	-488.50	-77.88	-5.15	-1.18	-0.98	-1,012.60	-42.48	-51.94	-69.84	15.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.81%	-0.55%	-0.02%	-2.35%	2.95%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.81%	-0.55%	-0.02%	-2.35%	42.73%

This table displays calculated financial ratios and metrics derived from Cleanspark's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	46.71%	-27.74%	165.24%	162.77%	128.69%	69.98%	119.97%	62.53%	90.81%	150.52%
EBITDA Growth	115.76%	638.96%	-126.60%	652.42%	3,874.40%	-2,461.62%	2.99%	464.34%	-137.82%	280.28%	664.18%
EBIT Growth	26.13%	17.55%	-332.43%	191.91%	815.18%	-1,668.51%	9.52%	839.16%	-204.71%	212.39%	69.70%
NOPAT Growth	23.87%	-1.76%	-265.04%	233.79%	1,220.25%	-1,498.19%	5.05%	648.29%	-176.91%	231.91%	101.27%
Net Income Growth	-10,695.32%	51.54%	-6,386.02%	189.25%	786.54%	-1,561.45%	18.65%	852.53%	-209.51%	208.95%	98.51%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-83.81%	3.68%	-266.49%	-1,032.24%	-734.63%	-1,272.23%	-136.74%	-150.51%	-150.37%	-88.02%	-44.41%
Free Cash Flow Firm Growth	67.17%	-50.38%	-252.67%	-276.47%	-465.38%	-294.06%	-257.16%	-88.64%	-150.65%	-65.02%	-14.77%
Invested Capital Growth	20.76%	52.69%	63.18%	0.00%	140.06%	114.08%	157.50%	208.12%	110.62%	128.26%	73.38%
Revenue Q/Q Growth	52.94%	7.00%	15.37%	40.49%	51.52%	-6.88%	-14.25%	81.80%	11.96%	9.32%	12.59%
EBITDA Q/Q Growth	138.16%	112.17%	-248.77%	558.68%	181.27%	-226.07%	93.89%	2,768.21%	-119.76%	686.48%	-76.47%
EBIT Q/Q Growth	41.29%	22.61%	-424.15%	138.59%	381.57%	-291.36%	73.18%	500.59%	-155.68%	295.39%	-107.33%
NOPAT Q/Q Growth	39.46%	10.87%	-343.30%	155.93%	380.94%	-227.15%	73.66%	540.82%	-147.73%	338.04%	-99.75%
Net Income Q/Q Growth	36.41%	22.97%	-437.58%	133.90%	389.15%	-286.41%	73.68%	496.90%	-156.24%	285.45%	-100.36%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	32.18%	-14.15%	-701.77%	-36.52%	-7.18%	-58.57%	-21.53%	-44.47%	6.00%	2.13%	-8.66%
Free Cash Flow Firm Q/Q Growth	-122.34%	-129.39%	-39.52%	-146.77%	28.27%	-59.88%	-26.46%	-30.34%	2.85%	-3.05%	11.90%
Invested Capital Q/Q Growth	0.00%	24.61%	10.07%	17.72%	48.67%	11.12%	32.40%	40.87%	1.63%	20.43%	0.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.10%	54.57%	42.12%	60.84%	69.32%	56.60%	35.99%	56.69%	52.99%	54.63%	56.51%
EBITDA Margin	9.27%	18.39%	-23.71%	77.41%	140.24%	-189.87%	-13.53%	198.59%	-35.05%	188.01%	39.30%
Operating Margin	-41.10%	-34.24%	-131.55%	38.64%	122.65%	-239.25%	-73.48%	129.37%	-75.96%	123.92%	0.37%
EBIT Margin	-40.94%	-29.61%	-134.53%	36.96%	111.43%	-228.99%	-71.61%	157.78%	-78.47%	140.25%	-9.14%
Profit (Net Income) Margin	-43.39%	-31.23%	-145.54%	35.11%	113.36%	-226.92%	-69.65%	152.05%	-76.38%	129.57%	-0.41%
Tax Burden Percent	101.62%	100.72%	107.74%	94.88%	100.00%	100.00%	100.00%	96.40%	97.85%	93.43%	3.67%
Interest Burden Percent	104.29%	104.73%	100.41%	100.15%	101.73%	99.10%	97.26%	99.97%	99.48%	98.89%	123.37%
Effective Tax Rate	0.00%	0.00%	0.00%	5.12%	0.00%	0.00%	0.00%	3.60%	0.00%	6.57%	0.00%
Return on Invested Capital (ROIC)	-10.78%	-8.66%	-29.13%	20.23%	42.51%	-60.86%	-16.52%	36.77%	-15.92%	34.72%	0.09%
ROIC Less NNEP Spread (ROIC-NNEP)	-258.17%	-64.10%	344.04%	27.05%	49.43%	40.32%	25.92%	62.92%	-51.78%	42.96%	-0.34%
Return on Net Nonoperating Assets (RNNOA)	-1.48%	-0.78%	-4.79%	-1.12%	-7.66%	-2.46%	-0.82%	7.54%	-3.63%	8.05%	-0.06%
Return on Equity (ROE)	-12.26%	-9.44%	-33.93%	19.11%	34.85%	-63.32%	-17.33%	44.31%	-19.56%	42.77%	0.03%
Cash Return on Invested Capital (CROIC)	-30.99%	-52.54%	-65.25%	-213.27%	-72.48%	-83.98%	-96.95%	-99.95%	-80.69%	-66.16%	-39.97%
Operating Return on Assets (OROA)	-14.11%	-9.98%	-37.32%	9.18%	30.55%	-73.64%	-19.92%	40.51%	-20.11%	38.72%	-2.72%
Return on Assets (ROA)	-14.95%	-10.53%	-40.37%	8.73%	31.08%	-72.97%	-19.38%	39.03%	-19.57%	35.78%	-0.12%
Return on Common Equity (ROCE)	-12.26%	-9.44%	-33.93%	19.11%	34.85%	-63.32%	-17.33%	44.31%	-19.56%	42.77%	0.03%
Return on Equity Simple (ROE_SIMPLE)	-25.14%	-17.23%	0.00%	-10.27%	4.34%	-11.30%	0.00%	3.72%	-10.07%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-12	-11	-48	27	137	-174	-46	202	-97	230	0.58
NOPAT Margin	-28.77%	-23.96%	-92.08%	36.66%	122.65%	-167.47%	-51.43%	124.71%	-53.17%	115.78%	0.26%
Net Nonoperating Expense Percent (NNEP)	247.39%	55.44%	-373.17%	-6.82%	-6.92%	-101.18%	-42.44%	-26.15%	35.85%	-8.24%	0.42%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	3.28%	-	-	-	7.58%	-3.81%	7.75%	0.02%
Cost of Revenue to Revenue	51.90%	45.43%	57.88%	39.16%	30.68%	43.40%	64.01%	43.31%	47.01%	45.37%	43.49%
SG&A Expenses to Revenue	18.99%	16.01%	18.60%	8.91%	8.07%	12.11%	17.68%	8.59%	8.10%	9.85%	8.13%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	89.20%	88.81%	173.66%	22.20%	-53.33%	295.85%	109.47%	-72.68%	128.95%	-69.29%	56.14%
Earnings before Interest and Taxes (EBIT)	-17	-13	-71	27	125	-238	-64	256	-143	279	-20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3.95	8.37	-12	57	157	-198	-12	322	-64	373	88
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.46	0.80	0.86	2.08	2.87	2.59	1.32	1.33	1.00	1.44	1.87
Price to Tangible Book Value (P/TBV)	0.47	0.82	0.88	2.11	2.89	2.61	1.32	1.43	1.08	1.54	2.00
Price to Revenue (P/Rev)	1.32	2.70	3.45	7.85	14.81	10.62	6.12	5.76	3.51	4.90	5.32
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	69.74	0.00	0.00	40.03	0.00	10.59	11.55
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	1.43%	0.00%	0.00%	2.50%	0.00%	9.44%	8.66%
Enterprise Value to Invested Capital (EV/IC)	0.46	0.80	0.86	2.12	3.37	2.74	1.33	1.28	1.00	1.32	1.64
Enterprise Value to Revenue (EV/Rev)	1.36	2.67	3.35	7.69	13.71	10.27	5.95	6.55	4.52	6.13	6.33
Enterprise Value to EBITDA (EV/EBITDA)	0.00	140.52	0.00	28.95	18.52	897.05	788.66	11.43	67.69	6.29	6.74
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	57.31	0.00	0.00	39.80	0.00	11.94	13.05
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	48.05	0.00	0.00	94.45	0.00	15.35	15.21
Enterprise Value to Operating Cash Flow (EV/OCF)	6.13	13.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.04	0.03	0.02	0.02	0.01	0.01	0.04	0.32	0.34	0.38	0.38
Long-Term Debt to Equity	0.02	0.02	0.01	0.01	0.00	0.00	0.00	0.32	0.34	0.30	0.30
Financial Leverage	0.01	0.01	-0.01	-0.04	-0.16	-0.06	-0.03	0.12	0.07	0.19	0.18
Leverage Ratio	1.09	1.09	1.12	1.06	1.07	1.06	1.12	1.29	1.25	1.29	1.31
Compound Leverage Factor	1.14	1.14	1.13	1.07	1.09	1.05	1.09	1.29	1.24	1.28	1.61
Debt to Total Capital	3.58%	2.87%	2.30%	1.75%	0.87%	0.78%	3.61%	24.29%	25.50%	27.65%	27.41%
Short-Term Debt to Total Capital	1.47%	1.14%	1.01%	0.90%	0.52%	0.68%	3.22%	0.27%	0.21%	5.95%	5.89%
Long-Term Debt to Total Capital	2.11%	1.73%	1.29%	0.85%	0.34%	0.09%	0.39%	24.02%	25.29%	21.70%	21.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	96.41%	97.13%	97.70%	98.25%	99.13%	99.22%	96.39%	75.71%	74.50%	72.35%	72.59%
Debt to EBITDA	-2.72	5.24	-1.53	0.25	0.06	2.80	23.05	2.42	18.03	1.33	1.14
Net Debt to EBITDA	-1.02	-1.37	1.61	-0.61	-1.48	-30.36	-21.35	1.37	15.12	1.26	1.08
Long-Term Debt to EBITDA	-1.60	3.16	-0.85	0.12	0.02	0.34	2.51	2.39	17.88	1.04	0.90
Debt to NOPAT	-0.33	-0.33	-0.17	-0.28	0.16	-0.10	-0.63	20.01	-3.81	3.25	2.57
Net Debt to NOPAT	-0.12	0.09	0.18	0.67	-3.84	1.11	0.59	11.34	-3.20	3.08	2.43
Long-Term Debt to NOPAT	-0.19	-0.20	-0.10	-0.14	0.06	-0.01	-0.07	19.78	-3.78	2.55	2.02
Altman Z-Score	1.80	5.58	3.41	19.42	34.66	29.46	6.95	2.97	1.68	2.75	2.97
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.80	1.41	1.38	4.29	12.50	8.94	3.75	12.67	8.67	4.37	4.18
Quick Ratio	0.27	0.60	1.20	0.02	0.01	8.29	3.70	2.87	0.92	0.14	0.14
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-95	-218	-304	-750	-537	-858	-1,086	-1,415	-1,375	-1,417	-1,248
Operating Cash Flow to CapEx	40.21%	27.82%	-172.43%	-62.45%	-277.12%	-15.50%	0.00%	-42.76%	-170.60%	-64.24%	0.00%
Free Cash Flow to Firm to Interest Expense	-118.86	-316.18	-506.58	-1,373.72	-1,020.79	-1,770.04	-1,208.89	-907.57	-1,084.94	-410.14	-246.89
Operating Cash Flow to Interest Expense	8.46	8.42	-58.21	-87.33	-81.57	-140.28	-92.08	-76.62	-88.62	-31.81	-23.62
Operating Cash Flow Less CapEx to Interest Expense	-12.58	-21.86	-91.97	-227.19	-111.01	-1,045.44	369.90	-255.83	-140.57	-81.34	49.89
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.34	0.28	0.25	0.27	0.32	0.28	0.26	0.26	0.28	0.30
Accounts Receivable Turnover	47.87	1,768.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	69.22	0.00	0.00	139.43	131.58	0.00	0.00	0.45	0.00	0.00	0.49
Fixed Asset Turnover	0.46	0.45	0.36	0.34	0.51	0.65	0.53	0.49	0.55	0.67	0.69
Accounts Payable Turnover	2.63	3.74	2.90	3.05	3.05	3.22	2.69	6.78	9.38	7.58	6.99
Days Sales Outstanding (DSO)	7.62	0.21	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	5.27	0.00	0.00	2.62	2.77	0.00	0.00	820.12	0.00	0.00	743.88
Days Payable Outstanding (DPO)	138.61	97.49	125.91	119.50	119.72	113.26	135.50	53.84	38.92	48.16	52.21
Cash Conversion Cycle (CCC)	-125.72	-97.28	-125.91	-116.89	-116.95	-113.26	-135.50	766.28	-38.92	-48.16	691.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	481	600	660	777	1,155	1,284	1,700	2,394	2,433	2,930	2,950
Invested Capital Turnover	0.37	0.36	0.32	0.55	0.35	0.36	0.32	0.29	0.30	0.30	0.33
Increase / (Decrease) in Invested Capital	83	207	256	777	674	684	1,040	1,617	1,278	1,647	1,249
Enterprise Value (EV)	223	479	565	1,649	3,890	3,516	2,256	3,062	2,430	3,877	4,850
Market Capitalization	217	483	582	1,684	4,201	3,635	2,317	2,694	1,887	3,099	4,076
Book Value per Share	$6.08	$5.36	$4.43	$4.53	$7.39	$6.15	$7.10	$6.91	$6.73	$7.64	$7.74
Tangible Book Value per Share	$5.90	$5.24	$4.34	$4.47	$7.33	$6.10	$7.05	$6.43	$6.24	$7.16	$7.25
Total Capital	492	621	692	825	1,476	1,413	1,827	2,670	2,538	2,967	2,996
Total Debt	18	18	16	14	13	11	66	649	647	820	821
Total Long-Term Debt	10	11	8.91	7.05	5.09	1.31	7.18	641	642	644	645
Net Debt	6.61	-4.68	-17	-35	-311	-119	-61	368	543	778	775
Capital Expenditures (CapEx)	17	21	20	76	15	439	-415	279	66	171	-372
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	-0.17	2.47	98	317	412	449	855	739	1,067	1,134
Debt-free Net Working Capital (DFNWC)	-1.13	22	35	147	640	542	576	1,136	844	1,110	1,181
Net Working Capital (NWC)	-8.38	15	28	139	633	532	518	1,129	838	933	1,004
Net Nonoperating Expense (NNE)	6.22	3.31	28	1.14	10	62	16	-44	42	-27	1.51
Net Nonoperating Obligations (NNO)	7.40	-3.95	-16	-33	-308	-118	-61	373	543	784	775
Total Depreciation and Amortization (D&A)	21	22	58	30	32	41	52	66	79	95	108
Debt-free, Cash-free Net Working Capital to Revenue	-7.37%	-0.10%	1.47%	45.49%	111.62%	120.26%	118.56%	182.86%	137.57%	168.90%	148.03%
Debt-free Net Working Capital to Revenue	-0.68%	12.47%	20.85%	68.45%	225.80%	158.24%	152.08%	242.96%	156.98%	175.61%	154.09%
Net Working Capital to Revenue	-5.08%	8.52%	16.70%	64.99%	223.09%	155.41%	136.57%	241.42%	155.97%	147.69%	131.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	80.47M	229.69M	102.71M	357.62M	209.29M	228.64M	216.86M	284.55M	280.85M	281.00M	282.18M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	80.47M	229.69M	205.42M	361.57M	424.20M	228.64M	433.72M	291.89M	280.85M	325.59M	635.52M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	80.47M	152.64M	102.71M	198.06M	209.29M	457.29M	216.86M	280.81M	280.94M	281.08M	282.18M
Normalized Net Operating Profit after Tax (NOPAT)	-12	-10	-43	28	97	-42	-38	202	-98	230	2.35
Normalized NOPAT Margin	-28.45%	-22.83%	-81.32%	37.53%	87.14%	-40.27%	-42.57%	124.24%	-54.03%	115.85%	1.05%
Pre Tax Income Margin	-42.70%	-31.01%	-135.09%	37.01%	113.36%	-226.92%	-69.65%	157.73%	-78.05%	138.69%	-11.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-21.80	-19.56	-117.76	49.94	236.84	-491.54	-71.19	164.27	-112.54	80.66	-4.04
NOPAT to Interest Expense	-15.32	-15.83	-80.60	49.54	260.69	-359.49	-51.13	129.84	-76.26	66.58	0.12
EBIT Less CapEx to Interest Expense	-42.85	-49.85	-151.52	-89.91	207.40	-1,396.70	390.78	-14.94	-164.48	31.13	69.47
NOPAT Less CapEx to Interest Expense	-36.37	-46.12	-114.36	-90.31	231.25	-1,264.65	410.84	-49.37	-128.20	17.06	73.63
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-0.26%	-0.02%	-0.02%	0.00%	0.94%	-2.16%	-2.35%	0.00%	-4.19%	1.70%	2.95%
Augmented Payout Ratio	-0.26%	-0.02%	-0.02%	0.00%	0.94%	-2.16%	-2.35%	0.00%	-4.19%	1.70%	42.73%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Cleanspark (CLSK) based on its quarterly statements over the last four years, with a focus on the recent 2025 quarters and nearby 2024 figures.

Revenue trend: 2025 quarterly revenue shows a clear upturn versus 2024. Q4 2025 Operating Revenue is $223.65M, up from Q4 2024’s $89.28M. The quarterly sequence in 2025 runs roughly $181.18M (Q1), $181.71M (Q2), $198.64M (Q3), and $223.65M (Q4), indicating growth through the year.
Gross margin expansion: 2025 gross margins improved to the mid-50s percent by Q3–Q4. For example, Q4 2025 Total Gross Profit of $126.39M on $223.65M revenue implies a gross margin around 56%, higher than early-2025 quarters.
Strong quarterly profitability in Q3 2025: Net income attributable to common shareholders reached about $251.8M in Q3 2025, reflecting a major swing to profitability in that quarter on strong gross profit and operating results.
Liquidity support from financing activity in Q3 2025: Net cash from continuing financing activities was about $172.8M, providing material liquidity to fund growth and investments.
Balance sheet growth: Total common equity rose to roughly $2.14B by Q3 2025, up from around $1.89B in Q2 2025, signaling an expanding equity base.
Asset growth: Total assets increased to about $3.10B by Q3 2025, up from approximately $2.66B in Q2 2025, reflecting expansion in both current and noncurrent assets.
Capex activity signals expansion: Q4 2025 shows substantial capital expenditure with PPE purchases of about $371.6M, consistent with ongoing plant/property investments to support growth. Net investing activity in Q4 2025 also reflects a strong investment cadence.
Depreciation expense remains very high but non-cash in nature: Q4 2025 depreciation is $108.3M (Q3 2025 was $94.9M, etc.), which lowers pretax income but does not affect cash flow directly.
Operating cash flow remains negative in 2025 quarters: Net cash from continuing operating activities was negative in 2025 quarters (roughly -$110M to -$120M per quarter), indicating ongoing cash burn to fund growth despite improving margins.
Quarterly profitability volatility: Despite the strong Q3 2025 result, Q4 2025 ended with a small net loss to common shareholders (-$1.739M) and a negative pre-tax result in that quarter, highlighting quarterly volatility and potential one-off factors affecting earnings.

05/08/26 08:10 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Cleanspark's Financials

When does Cleanspark's fiscal year end?

According to the most recent income statement we have on file, Cleanspark's financial year ends in September. Their financial year 2025 ended on September 30, 2025.

How has Cleanspark's net income changed over the last 10 years?

Cleanspark's net income appears to be on a downward trend, with a most recent value of $364.46 million in 2025, falling from -$45.15 thousand in 2014. The previous period was -$145.78 million in 2024. Find out what analysts predict for Cleanspark in the coming months.

What is Cleanspark's operating income?

Cleanspark's total operating income in 2025 was $318.95 million, based on the following breakdown:

Total Gross Profit: $423.21 million
Total Operating Expenses: $104.26 million

How has Cleanspark's revenue changed over the last 10 years?

Over the last 10 years, Cleanspark's total revenue changed from $2.56 thousand in 2014 to $766.31 million in 2025, a change of 29,992,620.2%.

How much debt does Cleanspark have?

Cleanspark's total liabilities were at $1.01 billion at the end of 2025, a 399.7% increase from 2024, and a 1,833,943.8% increase since 2014.

How much cash does Cleanspark have?

In the past 10 years, Cleanspark's cash and equivalents has ranged from $57.13 thousand in 2017 to $121.22 million in 2024, and is currently $42.97 million as of their latest financial filing in 2025.

How has Cleanspark's book value per share changed over the last 10 years?

Over the last 10 years, Cleanspark's book value per share changed from 0.13 in 2014 to 7.74 in 2025, a change of 6,036.7%.

Related Companies

Financial statements for NASDAQ:CLSK last updated on 11/29/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Cleanspark (CLSK) Financials

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Cleanspark (CLSK) Financials

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