Feed / CLSK

CleanSpark, Inc.

CLSK

Financial Services · 13.67 +7.0% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

CleanSpark, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Company+7.0% todayVolume comparison unavailable
Market group0 of 26 activeHigh-Beta Risk-On · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • CLSK's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if CLSK's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Financial Services · Capital Markets

No new filing conclusion is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • CLSK's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Brokerage and capital-markets earnings model

For brokers and capital-markets platforms, the key question is how client activity, interest rates, customer balances, margin lending and market conditions translate into earnings and capital needs.

Key research questions
  • Can client and activity growth offset pressure from lower rates or weaker trading volumes?
  • Are customer balances, margin lending and credit conditions changing the risk profile?
  • Does the valuation reflect a durable earnings model or unusually favorable market conditions?
Annual periods9
Price observations328
Usable filing statements127
Verified relationships10
Evidence supporting the case
  • Latest annual revenue changed +102.2% year over year.
  • Operating margin changed +80.9 percentage points in the latest annual period.
  • Net margin changed +86.0 percentage points in the latest annual period.
  • Credit and interest rates has repeated favorable evidence across 5 filings.
Evidence challenging the case
  • Diluted shares increased 46.5% in the latest annual period.
  • Operating cash flow was only -1.265x net income in the latest annual period.
Questions before a position
  • EV/sales is 71% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

13.67
6m+43.1%12m+36.3%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-09-30$39.3M+291.7%
2022-09-30$131.5M+234.8%+44.7%
2023-09-30$168.4M+28.0%$-1.30
2024-09-30$379.0M+125.0%
2025-09-30$766.3M+102.2%+46.5%

What management says matters

Persistent and emerging business drivers

Credit and interest ratespositive · 5 filings
Interest expense in the nine months ended June 30, 2026 increased by $1,510 to $7,790 from $6,280 for the nine months ended June 30, 2025 due to the amortization of deferred issuance costs from the convertible notes and the lines of credit which the company h…
10-Q · Aug 6, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 5.7× · EV/sales 6.5×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.

Price action

How the market is pricing the story

13.67+7.0% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for CLSK. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for CLSK. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind CLSK

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

RIOTRiot Platforms, Inc.competitorNov 25, 2025

Within North America, our major competitors include: • MARA Holdings, Inc.; • Riot Platforms, Inc.; • Core Scientific, Inc.;

TRINTrinity Capital Inc.partnerAug 7, 2025

Trinity Master Equipment Financing Agreement On April 22, 2022, the Company entered into a Master Equipment Financing Agreement (the “Master Equipment Financing Agreement”) with Trinity Capital Inc.

Depended on by

IRENIREN LimitedpartnerAug 28, 2025

Our self-constructed Peer Group Index consists of members of our peer group with available publicly traded market data as of, and subsequent to, November 16, 2021, and consists of: Bitdeer Technologies Group (BTDR), Bitfarms Ltd.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 14 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

CLSK is currently a Follower in the organic co-movement group High-Beta Risk-On. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.