CleanSpark Inc (CLSK)

Total asset turnover

Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020
Revenue (ttm) US$ in thousands 537,401 467,488 378,968 342,808 284,080 214,827 168,860 141,918 127,566 122,218 131,524 132,496 113,384 84,306 49,439 24,249 15,772 11,310 10,029 10,397
Total assets US$ in thousands 2,657,000 2,779,290 1,962,660 1,475,580 1,537,320 862,731 761,578 652,803 531,553 486,789 452,625 411,059 424,797 418,145 317,473 297,489 292,613 78,173 22,340 20,628
Total asset turnover 0.20 0.17 0.19 0.23 0.18 0.25 0.22 0.22 0.24 0.25 0.29 0.32 0.27 0.20 0.16 0.08 0.05 0.14 0.45 0.50

March 31, 2025 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $537,401K ÷ $2,657,000K
= 0.20

The total asset turnover ratio for CleanSpark Inc. demonstrates notable variability across the observed periods from June 2020 through March 2025. Initially, the ratio was relatively high at 0.50 in June 2020, indicating that the company was generating approximately $0.50 in sales for every dollar of total assets. Subsequently, there was a declining trend, with the ratio decreasing to 0.45 in September 2020 and a substantial drop to 0.14 by December 2020. This sharp reduction signifies a significant decline in asset utilization efficiency during that period.

From early 2021 onward, the ratio continued to decline sharply, reaching as low as 0.05 in March 2021, which reflects considerably diminished sales relative to total assets. Over the subsequent quarters, the ratio shows signs of gradual recovery and stabilization, fluctuating between approximately 0.08 and 0.32. Notably, the ratio increased to 0.20 by December 2021 and further improved to 0.27 and 0.32 in the following periods, suggesting some enhancement in sales efficiency relative to asset base.

However, after peaking around 0.32 in June 2022, the ratio experienced minor fluctuations, generally remaining below 0.30, with slight decreases observed in late 2022 and early 2023. Towards the end of the analyzed period, the ratio declined again, reaching a low of 0.17 in December 2024 before edging upward slightly to 0.20 in March 2025.

Overall, the trend indicates that CleanSpark Inc. experienced a significant reduction in asset efficiency from mid-2020 through early 2021, followed by a period of gradual recovery and stabilization, yet the ratio remained relatively modest, rarely exceeding 0.32. The fluctuations suggest that the company's ability to generate sales from its asset base has been variable, with some periods of improved utilization offset by periods of diminished efficiency.


Peer comparison

Mar 31, 2025

Company name
Symbol
Total asset turnover
CleanSpark Inc
CLSK
0.20
Astrana Health Inc
ASTH
1.50
Hims Hers Health Inc
HIMS
2.09