CleanSpark Inc (CLSK)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 stockholders’ equity | US$ in thousands | 1,890,490 | 2,021,590 | 1,760,840 | 1,402,200 | 1,462,920 | 810,561 | 677,227 | 603,648 | 473,881 | 427,035 | 404,012 | 376,867 | 400,918 | 394,075 | 305,716 | 281,796 | 283,720 | 72,035 | 16,426 | 18,358 |
| Financial leverage ratio | 1.41 | 1.37 | 1.11 | 1.05 | 1.05 | 1.06 | 1.12 | 1.08 | 1.12 | 1.14 | 1.12 | 1.09 | 1.06 | 1.06 | 1.04 | 1.06 | 1.03 | 1.09 | 1.36 | 1.12 |
March 31, 2025 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,657,000K ÷ $1,890,490K
= 1.41
The financial leverage ratio of CleanSpark Inc. demonstrates fluctuations over the observed period, indicating varying levels of debt relative to equity. Starting at 1.12 as of June 30, 2020, the ratio increased notably to a peak of approximately 1.41 by March 31, 2025, with several intermediate fluctuations.
Initially, the ratio saw a significant rise from mid-2020, reaching a high of 1.36 in September 2020, before decreasing to 1.09 by the end of 2020. Throughout 2021, the leverage remained relatively stable, fluctuating slightly around the 1.03 to 1.06 range. In 2022, there was a gradual upward trend, with the ratio reaching 1.14 by the end of that year, continuing modestly into 2023 with values around 1.12.
During 2024, the ratio experienced a sharp escalation, reaching 1.37 by the year's end, which signifies increased reliance on debt. This upward trend persisted into 2025, with the ratio further climbing to 1.41 by March 31.
Overall, the trend indicates that CleanSpark Inc. has incrementally increased its leverage over time, especially in the recent years, suggesting a strategic shift towards higher debt levels relative to equity. This increase in leverage amplifies the company's financial risk, but it could also reflect efforts to finance growth initiatives or operational expansion. The fluctuations within the period suggest responsiveness to market conditions or corporate financing strategies, with a notable peak in leverage nearing the end of the observed timeframe.
Peer comparison
Mar 31, 2025