CleanSpark Inc (CLSK)
Return on assets (ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | -190,422 | 75,105 | -145,777 | -158,477 | 63,546 | -81,649 | -136,589 | -104,011 | -119,132 | -100,843 | -57,326 | -20,392 | -7,729 | -158 | -21,812 | -23,508 | -15,382 | -28,597 | -23,345 | -28,379 |
| 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 |
| ROA | -7.17% | 2.70% | -7.43% | -10.74% | 4.13% | -9.46% | -17.93% | -15.93% | -22.41% | -20.72% | -12.67% | -4.96% | -1.82% | -0.04% | -6.87% | -7.90% | -5.26% | -36.58% | -104.50% | -137.58% |
March 31, 2025 calculation
ROA = Net income (ttm) ÷ Total assets
= $-190,422K ÷ $2,657,000K
= -7.17%
The analysis of CleanSpark Inc's return on assets (ROA) over the specified period reveals a trajectory marked by significant volatility and gradual improvement. Between June 30, 2020, and March 31, 2023, the company's ROA remained consistently negative, with values ranging from -137.58% to -22.41%, indicating substantial losses relative to its total assets during that timeframe. The early quarters of this period show a pattern of persistent negative ROA, although there was a noticeable trend toward narrowing losses commencing in late 2020 and into 2021.
A notable turning point appears in the quarter ending March 31, 2024, when ROA transitioned to a positive figure of 4.13%. This marks a significant improvement suggesting that the company managed to generate more efficient utilization of its assets to produce earnings during this period. Subsequently, the ROA experienced fluctuations, with a decline to -10.74% in June 2024 and a slight improvement to -7.43% by September 2024, ultimately reaching an overall positive ROA of 2.70% at the end of December 2024. The latest data point from March 31, 2025, shows a return to negative territory at -7.17%, indicating potential variability and ongoing asset efficiency challenges.
Throughout the timeline, the shifts from deep negative ROA to positive figures highlight a period of financial recovery and operational improvement. However, the overall pattern underscores the company's historical struggles with profitability, with recent positive figures suggesting a potential turning point yet still subject to volatility. This pattern warrants continued monitoring to assess whether the upward trend can be sustained and translated into consistent operating profitability.
Peer comparison
Mar 31, 2025