CleanSpark Inc (CLSK)
Quick 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 | 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 |
| Receivables | US$ in thousands | — | — | 138,746 | 46,158 | 0 | 0 | 5 | 100 | 47 | 30 | 27 | 103 | 6,836 | 4,622 | 307 | 2,340 | 1,756 | 1,626 | 864 | 1,745 |
| 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 |
| Quick ratio | 8.54 | 12.48 | 3.69 | 8.75 | 12.34 | 4.16 | 1.16 | 0.98 | 0.40 | 0.16 | 0.95 | 0.71 | 1.18 | 1.81 | 3.90 | 3.02 | 22.61 | 6.21 | 0.92 | 2.90 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($96,982K
+ $836,586K
+ $—K)
÷ $109,312K
= 8.54
The Quick Ratio of CleanSpark Inc. demonstrates significant fluctuations over the analyzed period, reflecting substantial shifts in the company's short-term liquidity position. Starting from a relatively low value of 2.90 on June 30, 2020, it decreased sharply to 0.92 by September 30, 2020, indicating a diminished capacity to meet short-term obligations solely through the most liquid assets. However, the ratio then surged dramatically to 6.21 by December 31, 2020, and continued to escalate, reaching an extraordinary peak of 22.61 on March 31, 2021, suggesting an exceptionally strong liquidity position possibly due to increased liquid assets or reduced current liabilities.
Subsequently, the quick ratio stabilized at elevated levels, with values of 3.02, 3.90, and 1.81 during 2021, indicating periods of strong liquidity. Notably, the ratio declined below 1 on June 30, 2022 (0.71) and December 31, 2022 (0.16), signifying a period where the company's liquid assets may have been insufficient to cover its current liabilities, which could raise concerns about liquidity risk during this timeframe.
From December 31, 2022, onward, the quick ratio exhibits an improving trend, reaching 0.40 on March 31, 2023, then rising to 0.98, 1.16, and notably spiking to 4.16 by December 31, 2023. The period extending into 2024 shows even higher ratios, with 12.34 on March 31, 2024, and maintaining elevated levels of 8.75 and 12.48 in subsequent quarters, indicating a significant enhancement in liquidity. The latest data points, with the ratio at 8.54 on March 31, 2025, suggest that the company has maintained a strong liquidity position, potentially reflecting optimized liquid asset management or a reduction in current liabilities.
Overall, the company's quick ratio has experienced considerable volatility over the period reviewed. The initial periods show a pattern of high liquidity but with some periods below one, indicating short-term liquidity challenges at certain points. The latter periods, especially from late 2022 onward, highlight a trend toward improved and sustained liquidity, potentially signaling a more stable short-term financial position.
Peer comparison
Mar 31, 2025