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