CleanSpark Inc (CLSK)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 96,982 | 276,599 | 121,222 | 126,141 | 320,060 | 48,458 | 29,215 | 21,833 | 10,345 | 2,061 | 20,463 | 2,662 | 1,913 | 5,212 | 14,571 | 22,210 | 157,275 | 25,632 | 3,126 | 1,956 |
| Short-term investments | US$ in thousands | 836,586 | 930,030 | 432,579 | 413,845 | 358,765 | 127,706 | 56,967 | 14,621 | 5,935 | 4,502 | 11,757 | 11,358 | 17,837 | 30,966 | 24,359 | 11,362 | 6,892 | 1,294 | 960 | 909 |
| Total current liabilities | US$ in thousands | 109,312 | 96,677 | 187,887 | 66,985 | 55,026 | 42,393 | 74,055 | 37,420 | 41,282 | 41,600 | 34,041 | 19,986 | 22,578 | 22,482 | 10,063 | 11,910 | 7,340 | 4,595 | 5,383 | 1,589 |
| Cash ratio | 8.54 | 12.48 | 2.95 | 8.06 | 12.34 | 4.16 | 1.16 | 0.97 | 0.39 | 0.16 | 0.95 | 0.70 | 0.87 | 1.61 | 3.87 | 2.82 | 22.37 | 5.86 | 0.76 | 1.80 |
March 31, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($96,982K
+ $836,586K)
÷ $109,312K
= 8.54
The analysis of CleanSpark Inc.'s cash ratio over the specified periods reveals variable liquidity positioning, reflecting shifts in the company's cash holdings relative to its short-term liabilities. In the fiscal year ending June 30, 2020, the cash ratio stood at 1.80, indicating that the company's cash and cash equivalents were approximately 1.8 times its current liabilities, suggestive of a comfortable liquidity cushion. During the subsequent quarter, this ratio declined significantly to 0.76, signaling reduced cash reserves relative to current obligations, though still below the ideal level of 1.0.
Remarkably, by December 31, 2020, the cash ratio surged to 5.86, illustrating a substantial increase in liquidity or a reduction in current liabilities, which provided a strong buffer for short-term obligations. The subsequent quarter saw an exponential rise to 22.37, the highest point within this timeframe, indicating a significant accumulation of cash assets. This level persisted into June 30, 2021, at 2.82, maintaining a strong liquidity position before fluctuating over the following periods.
Between September 30, 2021, and December 31, 2022, the cash ratio experienced a downward trend, reaching lows of 0.16 in December 2022, reflecting a sharp decrease in cash reserves or an increase in current liabilities, thereby reducing liquidity relative to short-term obligations. During this period, the ratio hovered below 1, suggesting potential liquidity constraints or increased operational commitments.
From the end of 2022 onward, the cash ratio demonstrated signs of recovery, rising to 0.39 in March 2023, and further improving to 0.97 by June 2023. Notably, a more significant increase was observed by December 31, 2023, with the ratio reaching 4.16, indicating a considerable accumulation of cash assets relative to current liabilities. This upward trend continued into 2024, with ratios of 12.34 in March, 8.06 in June, and peaking at 12.48 in December, reflecting a substantial strengthening of liquidity position. The first quarter of 2025 reported a ratio of 8.54, maintaining a high level of liquidity.
Overall, CleanSpark Inc.'s cash ratio exhibits periods of volatility characterized by sharp declines and subsequent recoveries. The fluctuations suggest strategic variations in cash management or changes in short-term liabilities. The recent data indicates a strong liquidity position as of the end of 2024, which could imply prudent cash reserves or a shift in operational or financial strategy to bolster liquidity.
Peer comparison
Mar 31, 2025