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CleanSpark Inc. (CLSK) — RQD Stock Rating Cockpit

$7.15 -6.78% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $7.05

CleanSpark Inc. (CLSK) carries a Roarable Rating of D- (Sell) with 41/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE D- • RED ALERT Cap $1.97B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on CLSK Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is CLSK stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, CleanSpark Inc. (NASDAQ: CLSK) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 41/100 at a spot price of $7.15 (-6.78% 1D, market cap $1.97B). Pillar breakdown: Fundamental Cash Engine 8/20, Institutional 13F & Options Flow 5/20, SEC Balance-Sheet Forensics 13/20, FRED Macro Regime Fit 5/20, and Executive Insider Alignment 10/20. Across 1097 tracked Financials issuers, CLSK ranks #894 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does CLSK compare to BTDR and HAPN in the Financials sector?
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Within the Financials sector (Finance: Consumer Services), CLSK carries a Roarable D- (41/100 RQD), trailing P/E of 5.8x, gross margin of —, and ROIC of 14.5%. By comparison, BTDR (Bitdeer Technologies Group (Class A)) holds a D grade (44/100 RQD, P/E N/A, ROIC —, cap $1.82B) and HAPN (Happen Inc.) posts a D- grade (37/100 RQD, P/E 13.6x, ROIC 9.0%, cap $1.79B). Among the 5-stock peer group, CLSK leads on earnings multiple (5.8x) while CLSK leads on capital efficiency (14.5% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for CLSK?
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Per CLSK's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-09-30, CIK 0000827876), CleanSpark Inc. generated $766.3M in revenue (+102.2% YoY), $364.5M in net income, and -$495.5M in free cash flow against $3.33B in total assets and $874.8M in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $7.05 (-1.41%)🧬 Disciplined Float (+0.52% YoY Shares)⚙️ Cash Engine: 8/20 (D-) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (41/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-7.2% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • D-
025507510041
2-of-3 Quant Analysts Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw D- · Rk D
Cash (8)Whales (5)SEC (13)Macro (5)CEO (10)
Each axis scored 0–20
12M PRICE TARGET CONE-7.7% Base Target
$20 Bull$7 Base$5 Bear
📬 FREE CLSK RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for CLSK)Realized 20D OHLCV Swing Band: ±12.5%
Deterministic 5-Pillar Attribution (41/100 Composite)
🔍 WHY CLSK SCORES 41/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+13/20 pts (32% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 6/9

▲ #2 Bullish Driver: Insider Conviction & Share Dilution+10/20 pts (24% of score)

SEC Form 4 / 13F Thermometer: 50% Net Buy • Disciplined Float (+0.52% YoY Shares)

▼ #1 Drag / Risk Factor: Macro Regime Fit5/20 pts (-15 pt drag)

Macro rate sensitivity & RSI-14 (32.2) create a -15 pt regime headwind

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
49
Grade D$9.23-5.2% Next Q
Q2 (-2Q)
46
Grade D$8.75-1.9% Next Q
Q3 (-1Q)
44
Grade D$8.58-16.7% Next Q
Current
41
Grade D-$7.15-7.2% Hist 90D α
Trajectory: D (49) → D- (41)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a CLSK Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While CLSK currently carries a cautious 41/100 (D-) rating due to Macro Regime Fit (5/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Financials with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($11.28) and Max Pain ($7.51) forces dealer call-delta covering toward $20.27.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+0.52% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $CLSK• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “CLSK Beats Next Quarter EPS Consensus (Dec 29, 2026) & Holds Above 200D SMA”
RSI-14 MOMENTUMNEUTRAL RANGE
32.230 Oversold · 70 Hot
ALTMAN-Z SHIELDFORTRESS SAFE (>3.0)
3.80>3.0 Fortress Safe
PIOTROSKI F-SCORESOLID CORE (5–6)
6 / 99-Pt Accounting
52-WEEK LASER RANGE2% OF RANGE
L: $7$7.15H: $19
1. Money & Cash Health● WEAK
Are profits real cash in the bank?

Weak cash conversion or heavy valuation strain compared to actual cash earned.

Factor Grade: D-RQD 8 / 20
2. Big Money & Insiders● TRIMMING
Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: D-RQD 15 / 40
3. Hidden Risks & Market Weather● WARNING
SEC fine-print scan & interest-rate fit

High sensitivity to tight interest rates or new risk warnings added to recent SEC annual filings.

Factor Grade: DRQD 18 / 40
MULTI-MODEL QUANT PANEL DELIBERATION

2-of-3 Quant Analysts Bearish Warning on CLSK

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
BEARISH (40)

14.5% ROIC with 42.0% gross margin and -18.00% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
NEUTRAL (65)

Altman-Z 4.20 and Piotroski 6/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
BEARISH (33)

15/40 institutional & smart-money positioning score with 5/20 macro alignment.

Bull Case: Why Buyers Like CLSK
  • ✓Established market leader in Financials with deep daily trading liquidity.
Bear Case: What Could Go Wrong
  • !Company executives have done more routine share selling than personal cash buying lately.
  • !Sensitive to high interest rates and tighter Federal Reserve market liquidity.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring CLSK)

  • ✓Walkthrough of CLSK's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?
CLSK // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -44.23%▼ SUPPORT BREAKDOWN
2026-11-03O $8.20H $8.20L $7.15C $7.15VOL 20.14M
RES: $14.66SUP: $7.56SMA50: $11.28SMA200: $12.27
$20.01$16.53$13.04$9.55$6.07RES $14.66SUP $7.56$7.152026-05-042026-06-182026-08-052026-09-212026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

CLSK Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
-11.4%/yr Implied 5Y Growth

vs. +102.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on CLSK today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →
CLSK → RIOT Confirmed Filing
Bitcoin mining is a zero-sum hash-share competition: CleanSpark pure-play high-efficiency fleet expansion increases network difficulty for Riot Platforms, pushing Riot to evaluate repurposing Corsicana/Rockdale ERCOT megawatts toward AI/HPC colocation.
AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for CLSK today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (CLSK)

Financials Rank #894 of 1097 ⚔️ BTDR vs CLSK Full Matrix →

1. Head-to-Head Financials Peer Comparison (CLSK vs. BTDR, HAPN, UPST, TRIN)

Industry: Finance: Consumer Services (156 Tracked Issuers)

Across 1097 tracked Financials securities in the Roarable RQD universe, CleanSpark Inc. (CLSK) ranks #894 by composite RQD confidence (41/100, grade D-) and #427 by equity capitalization ($1.97B). Within this direct 5-issuer industry benchmark cohort, CLSK leads on earnings valuation at 5.8x trailing P/E, while CLSK leads on capital efficiency and profitability with 14.5% ROIC and — gross margin. BTDR currently holds the highest overall quantitative score in the immediate peer group at 44/100 (D) compared with CLSK at 41/100 (D-).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
CLSK ACTIVE
CleanSpark Inc.
D- 41/100 5.8x — 14.5% -6.78% $1.97B Benchmark Subject
BTDR
Bitdeer Technologies Group (Class A)
D 44/100 — — — -8.05% $1.82B /btdr-vs-clsk →
HAPN
Happen Inc.
D- 37/100 13.6x — 9.0% +0.26% $1.79B /hapn-vs-clsk →
UPST
Upstart Holdings Inc.
E 30/100 45.1x — 3.2% -7.43% $2.24B /upst-vs-clsk →
TRIN
Trinity Capital Inc.
D- 41/100 — — — +1.00% $1.61B /trin-vs-clsk →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-09-30 • CIK 0000827876 ↗

In its most recent audited fiscal period (FY2025, filed 2025-09-30), CleanSpark Inc. (CLSK) reported GAAP revenue of $766.3M (+102.2% vs. FY2024 revenue of $379.0M , and +355.0% cumulative change since FY2023) , GAAP net income of $364.5M, operating cash flow of -$461.0M, and free cash flow of -$495.5M (-97.6% YoY). On the balance sheet, CLSK closed FY2025 with $3.33B in total assets against $874.8M in total debt (Altman Z-Score: N/A, Piotroski F-Score: 6/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-09-30 $766.3M $364.5M -$461.0M -$495.5M $3.33B $874.8M
FY2024 (FY) 2024-09-30 $379.0M -$145.8M -$233.7M -$250.7M $2.78B $341.0M
FY2023 (FY) 2023-09-30 $168.4M -$138.1M -$17.2M -$24.8M $1.16B $271.0M

3. CLSK Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is CLSK stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, CleanSpark Inc. (NASDAQ: CLSK) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 41/100 at a spot price of $7.15 (-6.78% 1D, market cap $1.97B). Pillar breakdown: Fundamental Cash Engine 8/20, Institutional 13F & Options Flow 5/20, SEC Balance-Sheet Forensics 13/20, FRED Macro Regime Fit 5/20, and Executive Insider Alignment 10/20. Across 1097 tracked Financials issuers, CLSK ranks #894 in composite RQD confidence.

How does CLSK compare to BTDR and HAPN in the Financials sector?

Within the Financials sector (Finance: Consumer Services), CLSK carries a Roarable D- (41/100 RQD), trailing P/E of 5.8x, gross margin of —, and ROIC of 14.5%. By comparison, BTDR (Bitdeer Technologies Group (Class A)) holds a D grade (44/100 RQD, P/E N/A, ROIC —, cap $1.82B) and HAPN (Happen Inc.) posts a D- grade (37/100 RQD, P/E 13.6x, ROIC 9.0%, cap $1.79B). Among the 5-stock peer group, CLSK leads on earnings multiple (5.8x) while CLSK leads on capital efficiency (14.5% ROIC).

What are the biggest fundamental strengths and SEC risk factors for CLSK?

Per CLSK's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-09-30, CIK 0000827876), CleanSpark Inc. generated $766.3M in revenue (+102.2% YoY), $364.5M in net income, and -$495.5M in free cash flow against $3.33B in total assets and $874.8M in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is CLSK trading relative to its 50-day, 200-day, and 52-week technical levels?

CLSK last traded at $7.15 (-6.78% on volume of 13,545,794 shares), positioning the stock -36.61% below its 50-day simple moving average ($11.28) and -41.73% below its 200-day simple moving average ($12.27). Across its 52-week range of $7.29 to $19.30, CLSK sits at the 0.0% percentile with a 14-day RSI of 32.2 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($6.26 to $8.04).

ROARABLE RATING BRIEF • RQD 41/100 (D-) ✓ SEC XBRL & RQD VERIFIED

CLSK — CleanSpark Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-09-30

1. Roarable Rating Brief: What This Means to a Prospective Investor

CleanSpark Inc. (CLSK) earns a live Roarable RQD composite score of 41/100, corresponding to a D- letter grade (Roarable Sell) at a spot price of $7.15 (-6.78% 1D, market capitalization $1.97B).

  • Fundamental Cash Engine (8/20): Anchored by return on invested capital (ROIC) of 14.5%, gross margin of —, operating margin of 41.6%, and free cash flow yield of -18.00%.
  • Whale 13F & Options Flow (5/20) + Insider Conviction (10/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (5/20) + Forensic Balance Sheet (13/20): Incorporates a 0.93x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 6/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

CleanSpark Inc. Is a NASDAQ-listed company classified in the Financials sector and Finance: Consumer Services industry. The profile does not describe its products, customers, or revenue model. The Butterfly Supply-Chain Graph characterizes the company's theme as Bitcoin spot ETFs, custody, miners, and high-compute power, and describes a Bitcoin-mining hash-share competition with Riot Platforms ().

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-09-30), CleanSpark Inc. (CLSK) reported $766.3M in annual revenue (up from $379.0M in FY2024, +102.2% YoY) and $364.5M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($168.4M revenue, -$138.1M net income) through FY2025, CLSK scaled operating cash flow to -$461.0M and free cash flow to -$495.5M, backed by $3.33B in total assets against $874.8M in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (D- • RQD 41/100): Established market leader in Financials with deep daily trading liquidity. Free cash flow yield of -18.00% and institutional whale pillar of 5/20. With Fundamental Cash Engine at 8/20 and Institutional Whale Flow at 5/20, sustained execution supports upside toward the upper end of the $7.29 – $19.30 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh 5.8x trailing P/E and 7.1x EV/EBITDA against 41.6% operating margins and a 0.93x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

The supply-chain graph reports no supply chain (). Its single link is a substitute relationship with Riot Platforms (RIOT). Per the graph, the effect is mixed: CleanSpark's efficient fleet expansion increases network difficulty for Riot. A prospective investor should watch the following second-order items, each as stated in the source data:

  • Riot's potential conversion of Corsicana and Rockdale ERCOT megawatts toward AI/HPC colocation. The graph notes that this conversion requires backup generation, fiber redundancy, $8M–$11M per MW of retrofit CapEx, and creditworthy hyperscaler leases.
  • A competing explanation that ERCOT 4CP power-curtailment credits give Riot a structural net power cost advantage in peak summer months ().
  • The next catalyst listed is Riot's Corsicana AI/HPC feasibility milestones compared with CleanSpark's fleet J/TH efficiency print ().
  • Key Question #1: Can CLSK sustain or expand its 41.6% operating margin and 14.5% ROIC against Finance: Consumer Services peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $766.3M and free cash flow of -$495.5M, how will capital allocation balance growth reinvestment against $874.8M in total debt?
  • Key Question #3: How sensitive is CLSK's 4.9x forward P/E multiple to Financials capital spending cycles and macro interest-rate shifts (Beta 0.93x)?

CLSK Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for CleanSpark Inc. (CLSK) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to CLSK Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

CLSK Bull vs. Bear Conversation Board — What's Your Call at $7.15?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON CLSK 🐻 33% BEARISH CONVICTION
1. Pick Your Side on CLSK:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
DE DeltaGamma_99 RQD DEBATE OPENER • Options Flow Specialist 🐂 BULLISH 🎯 Target: $9.97 (+30.0%)
📌 Pinned Debate

Trailing P/E of 5.8 and FY 2025 operating income of $318.9M on revenue of $766.3M, with a forensic balance sheet pillar scoring 13 of 2

Here is why I am bullish on CLSK here at $7.67: Trailing P/E of 5.8 and FY 2025 operating income of $318.9M on revenue of $766.3M, with a forensic balance sheet pillar scoring 13 of 20.. Compare CLSK's 41.6% operating margin and 14.5% ROIC against the rest of Finance: Consumer Services. As long as cash conversion holds up, dips toward $7.29 are getting bought.

VolSurface_Trader 🐂 BULL

Both sides have a point here — CLSK's 13/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

SK SkepticalCFA RQD DEBATE OPENER • Fundamental Contrarian 🐻 BEARISH 🎯 Target: $6.21 (-19.0%)
Spot @ $7.67

Free cash flow was negative in every reported period, including -$495.5M in FY 2025, while debt rose to $874.8M.

I respect the product at CleanSpark Inc., but the stock at $7.67 is a different story. Free cash flow was negative in every reported period, including -$495.5M in FY 2025, while debt rose to $874.8M.. FCF yield is -18.0% and RQD sits at 41/100 (D-) — why pay up here when you can wait for next quarter's numbers?

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