CleanSpark, Inc. (CLSK) Stock Price & Analysis
CleanSpark, Inc. (CLSK) closed at USD 8.15 on Thursday, October 22, 2026, down 6.86% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 8.75; the Oct 22, 2026 session ranged USD 8–8.6 on volume of 16,214,789 shares. Market capitalization is $2.09B, with a 52-week range of USD 8–20.87 (NCM). Source: Nexqual, retrieved October 23, 2026 at 12:51 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CLSK.md
Key facts (CLSK)
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $435K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.73 on a 1–5 scale) (15 analysts), mean target USD 23.17 (range 19–27).
- Total return with dividends: 1Y -53.9% vs S&P 500 +14.9%; 5Y -50.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-24, EPS estimate USD -0.37, revenue estimate $132M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CLSK)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $39.3M | $132M | $168M | $379M | $766M | — |
| Gross profit | $34.0M | $90.3M | $74.8M | $213M | $423M | — |
| Operating income | -$11.9M | -$37.9M | -$131M | -$149M | $319M | -$894M |
| Net income | -$21.8M | -$57.3M | -$138M | -$146M | $364M | -$998M |
| EPS (diluted) | -$0.75 | — | -$1.30 | — | — | — |
| Free cash flow | -$163M | $54.2M | -$78.7M | -$300M | -$606M | -$620M |
| Gross margin | 86.6% | 68.6% | 44.4% | 56.3% | 55.2% | — |
| Operating margin | -30.3% | -28.8% | -77.8% | -39.3% | 41.6% | — |
| Net margin | -55.5% | -43.6% | -82.0% | -38.5% | 47.6% | — |
| Revenue growth | +291.7% | +234.8% | +28.0% | +125.0% | +102.2% | — |
| Cash + short-term investments | $18.0M | $20.5M | $29.2M | $121M | $43.0M | — |
| Total debt | — | $13.4M | $8.9M | $7.2M | $645M | — |
Fiscal years end Sep. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CLSK)
P/B 2.8x · FCF yield -29.62% · Earnings yield -47.67% · Buyback yield (TTM) 21.98%
P/E at fiscal year-ends: Sep 2025 12.6x.
Insider sales (SEC Form 4, open-market, last ~7 months) (CLSK)
3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-01 | Monnig Taylor | CTO, COO | 3,335 | $41K | 1% | Yes (adopted May 13, 2026) | Too little history (no open-market trades in 2023) |
| 2026-09-04…2026-09-08 | Monnig Taylor | CTO, COO | 29,762 | $394K | 8.5% | Yes (adopted May 13, 2026) | Too little history (no open-market trades in 2023) |
| 2026-08-14 | Monnig Taylor | CTO, COO | 54 | $1K | 0% | Yes (adopted May 13, 2026) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CLSK)
Consensus Buy (mean 1.73 on a 1–5 scale), 15 analysts; mean target USD 23.17 (low 19, high 27).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Canaccord Genuity | Initiated | Buy | $20 |
| 2026-10-16 | Cantor Fitzgerald | Target lowered | Overweight | $26 → $19 |
| 2026-08-10 | Chardan Capital | Maintained | Buy | $21 |
| 2026-08-07 | Cantor Fitzgerald | Reiterated | Overweight | $26 |
| 2026-08-03 | B. Riley Securities | Target raised | Buy | $19 → $26 |
| 2026-07-28 | Keefe, Bruyette & Woods | Target raised | Outperform | $16 → $25 |
| 2026-07-28 | Chardan Capital | Target raised | Buy | $19 → $21 |
| 2026-07-15 | Cantor Fitzgerald | Target raised | Overweight | $17 → $26 |
| 2026-07-15 | Needham | Target raised | Buy | $18 → $23 |
| 2026-07-15 | Chardan Capital | Maintained | Buy | $19 |
| 2026-07-14 | BTIG | Reiterated | Buy | $26 |
| 2026-07-08 | Chardan Capital | Maintained | Buy | $19 |
Total return (dividends reinvested) (CLSK)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -53.9% | -50.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -54.0% | -13.1% |
| Volatility (annualized) | 90.4% | 99.2% |
| Max drawdown | -59.6% (Oct 2025→Oct 2026) | -91.2% (Nov 2021→Dec 2022) |
CLSK suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Coinbase | “We rely on Coinbase to facilitate the custody of our bitcoins.” |
| Supplier | Bitmain Technologies Delaware | “In April and May 2025, we executed agreements with Bitmain Technologies Delaware Limited ("Bitmain"), one of our key mining equipment suppliers, to acquire new-generation miners under terms that allowed payment in bitcoin at negotiated premiums to prevailing market prices.” |
| Partner | Coinmint | “We previously maintained a hosting relationship with a facility in New York State through an agreement with Coinmint, LLC.” |
| Partner | MGT CAPITAL INVESTMENTS, INC. (MGTI) | “On May 13, 2025, CSRE Properties, LLC, a Georgia limited liability company and wholly-owned subsidiary of the Company, entered into an asset purchase agreement with MGT Capital Investments, Inc., to acquire real estate and certain mining related infrastructures in LaFayette, Georgia.” |
| Competitor | Equinix (EQIX) | “These competitors include Equinix, Inc., Digital Realty Trust, Inc., and CoreWeave, Inc., among others, as well as certain of our bitcoin mining competitors.” |
| Competitor | CoreWeave (CRWV) | “These competitors include Equinix, Inc., Digital Realty Trust, Inc., and CoreWeave, Inc., among others, as well as certain of our bitcoin mining competitors.” |
Quoted from the company's 10-K filed Nov 25, 2025.
CLSK company outlook (results filed Aug 6, 2026)
- “EX-99.1 2 clsk-ex99_1.htm EX-99.1 EX-99.1 EXHIBIT 99.1 CleanSpark Reports Third Fiscal Quarter 2026 Results Signed 20-year $6.6 billion triple-net lease at Sandersville with high investment-grade tenant Ordered and pre-paid all long-lead items to meet Sandersville RFS date Anticipated equity portion of Sandersville project has been fully funded LAS VEGAS, August 6, 2026 -- CleanSpark, Inc.”
Quoted word-for-word from the SEC 8-K results press release.
CLSK analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.37 | $-0.26 | +43.8% | $132.0M | 3 |
| Next quarter (ends Dec 2026) | $-0.39 | $-0.15 | +160.0% | $148.1M | 1 |
| Current fiscal year (ends Sep 2026) | $-2.19 | $0.00 | — | $595.6M | 2 |
| Next fiscal year (ends Sep 2027) | $-1.81 | $-0.72 | +150.0% | $626.4M | 4 |
CLSK options: expected move
Options price a move of about ±23.3% (±$1.94) by Nov 27, 2026, which includes earnings on Nov 24, 2026. Over the last 8 reports the stock moved ±8.5% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 92.4% | ±11.5% |
| Nov 6, 2026 | 14 | 94.8% | ±15.7% |
| Nov 13, 2026 | 21 | 93.6% | ±18.7% |
| Nov 20, 2026 | 28 | 95.4% | ±21.7% |
| Nov 27, 2026 | 35 | 92.3% | ±23.3% |
| Dec 4, 2026 | 42 | 75.6% | ±21.0% |
| Dec 18, 2026 | 56 | 90.9% | ±27.9% |
| Jan 15, 2027 | 84 | 90.7% | ±33.8% |
30-day implied volatility 92.7% vs 70.2% realized over the last 30 trading days. Put/call ratio (volume) 0.45. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 12:51 UTC)
| Price | USD 8.15 |
|---|---|
| Change | ▼ 6.86% (down) |
| Previous Close | USD 8.75 |
| Open | USD 8.4 |
| Day Range | USD 8 – 8.6 |
| 52-Week Range | USD 8 – 20.87 |
| Volume | 16,214,789 shares |
| Market Cap | $2.09B |
| Exchange | NCM |
Technical Analysis (CLSK)
Nexqual's technical model rates CLSK "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 12:51 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 26.42 (oversold) |
| vs SMA50 | Below (USD 12.01) |
| MACD | -1.25 (negative) |
Analyst Ratings (CLSK)
Wall Street analysts rate CLSK "Buy" based on 15 analysts, with a mean price target of USD 23.17 (range USD 19–27), per Nexqual as of October 23, 2026 at 12:51 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 15 |
| Mean Target | USD 23.17 |
| High Target | USD 27 |
| Low Target | USD 19 |
| Buy / Hold / Sell | 15 / 0 / 0 |
Earnings (CLSK)
| Next Earnings Date | 2026-11-24 |
|---|---|
| EPS Estimate | USD -0.37 |
| Revenue Estimate | $131.96M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.39 vs est -0.33 ▼ miss |
| 2026-03-31 | USD -0.49 vs est -0.23 ▼ miss |
| 2025-12-31 | USD -1.32 vs est 0.21 ▼ miss |
| 2025-09-30 | USD 0.16 vs est 0.54 ▼ miss |
Source: Nexqual, October 23, 2026 at 12:51 UTC.
Financials & Fundamentals (CLSK)
| Total Revenue | $679.25M |
|---|---|
| Revenue Growth (latest quarter, YoY) | -30.50% |
| Gross Margin | +46.99% |
| Operating Margin | -165.19% |
| Profit Margin | -146.90% |
| ROE | -68.62% |
| Debt / Equity | 2.35 |
| Current Ratio | 5.91 |
| Total Cash | $202.63M |
| Total Debt | $1.79B |
Source: Nexqual, October 23, 2026 at 12:51 UTC.
Financial Health Score (CLSK)
Nexqual rates CleanSpark, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 12:51 UTC.
| Growth | Strong — Revenue +102% YoY (annual) |
|---|---|
| Profitability | Strong — Net margin 46% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: Finance Services) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: Finance Services) |
| Efficiency | Critical — ROE -69%, ROA -27.7% |
Ownership (CLSK)
| Insider Ownership | +4.01% |
|---|---|
| Institutional Ownership | +100.08% |
| Shares Outstanding | 256.82M |
| Float | 246.53M |
| Short % of Float | +41.56% |
Source: Nexqual, October 23, 2026 at 12:51 UTC.
Leadership (CLSK)
CleanSpark, Inc. is led by S. Matthew Schultz, CEO & Chairman, per Nexqual as of October 23, 2026 at 12:51 UTC.
| CEO & Chairman | S. Matthew Schultz |
|---|---|
| President & CFO | Gary A. Vecchiarelli C.P.A. |
| CTO & COO | Taylor Monnig |
| Senior Director of Investor Relations | Barbara Domingo |
| Senior Vice President of Operations | Bradley Audiss |
Major Backers & Investors (CLSK)
Notable institutional backers of CleanSpark, Inc. include American Century Mutual Funds, Inc.-Small Cap Growth Fund, according to Nexqual as of October 23, 2026 at 12:51 UTC.
Active Investors
| Investor | Stake |
|---|---|
| American Century Mutual Funds, Inc.-Small Cap Growth Fund | 49.77% |
Source: Nexqual, October 23, 2026 at 12:51 UTC.
From CleanSpark, Inc.'s Latest SEC 10-K Filing (filed 2025-11-25)
Key Strengths & Strategy (as disclosed to the SEC)
- We design our infrastructure to efficiently, profitably and responsibly secure and support both bitcoin mining and AI and HPC workloads.
- The partnership is intended to enable us to focus on our core strengths in power and infrastructure while Submer delivers specialized cooling and deployment capabilities to support next-generation AI infrastructure at gigawatt scale.
- We have developed strategic relationships with well-established companies in key areas, including utilities, traditional and renewable energy, infrastructure, construction, and bitcoin mining equipment procurement.
Partnerships
- We terminated our agreement with our hosting facility in New York, and, effective January 1, 2025, we no longer maintained any co-location activities in the state.
- We previously maintained a hosting relationship with a facility in New York State through an agreement with Coinmint, LLC.
Legal & Regulatory Risks (Item 1A, quoted)
- Current regulation regarding the exchange of bitcoins under the CEA by the CFTC is unclear; to the extent we become subject to regulation by the CFTC in connection with our exchange of bitcoin, we may incur additional compliance costs, which may be significant.
- We cannot be certain as to how future regulatory developments will impact the treatment of bitcoin under the law. Any requirements imposed by the CFTC related to our mining activities or our transactions in bitcoin could cause us to incur additional extraordinary, non-recurring expenses, thereby potentially materially and adversely impacting an investment in the Company.
- Our operations require a substantial amount of power and can only be successful, and ultimately profitable, if the costs we incur, including for electricity, are lower than the revenue we generate from our operations.
- Future developments regarding the treatment of digital assets for U.S. federal income and applicable state, local and non-U.S. tax purposes could adversely impact our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 12:51 UTC. This page is informational and not investment advice.
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