What is CleanSpark's net debt?

CleanSpark (CLSK) reported net debt of -$120.51M in Q3 2024.

How has CleanSpark's net debt changed year-over-year?

CleanSpark's net debt decreased by 324.7% year-over-year, from -$28.38M to -$120.51M.

What is the long-term trend for CleanSpark's net debt?

Over 4 years (2020 to 2024), CleanSpark's net debt has grown at a 150.0% compound annual growth rate (CAGR), from -$3.08M to -$120.51M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

CleanSpark CLSK Net debt

Discontinued — last reported Q4 '24

Net debt at other companies

SeaboardSEB

2×-0.4×

Sabra HealthcareSBRA

-0.2×-0.3×

TDS

Telephone and Data SystemsTDS

-0.2×-25.0×

Dolby Laboratories, Inc.DLB

-1.8×-0.2×

Hannon Armstrong Sustainable Infrastructure CapitalHASI

0.5×+0.4×

Moelis & CompanyMC

0.7×-0.1×

Other financials

Income statement

See full

Revenue$191.6M+115%

Gross profit$105.8M+229%

Operating income-$345.7M-150%

Net income-$378.3M-173%

EPS (diluted)-$1.52-210%

Balance sheet

See full

Cash & equivalents$260.3M+168%

Total debt$709.0K-15.5%

Total equity$986.2M-47.8%

Total assets$2.9B+9.7%

Cash flow

See full

Operating cash flow-$135.8M-21.0%

CapEx$37.6M+10.3%

Free cash flow-$173.4M-18.5%

Valuation

See full

Market cap$4.42B+15.3%

P/S5.8×-1.0×

Profitability

See full

Gross margin55.2%-1.1pp

Operating margin41.6%+28.0pp

Net margin47.7%+33.0pp

FCF margin-84.5%+17.8pp

Returns & leverage

See full

Return on equity-34.7%-67.6pp

Debt / equity0×0.0×

Current ratio8.3×-0.4×

Where this comes from

Calculated from CleanSpark’s reported figures.

$709.0Ktotal debt−$121.2Mcash and equivalents=-$120.51M

The official record: CleanSpark’s 10-K, filed November 25, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is CleanSpark's net debt?: CleanSpark (CLSK) reported net debt of -$120.51M in Q3 2024.
How has CleanSpark's net debt changed year-over-year?: CleanSpark's net debt decreased by 324.7% year-over-year, from -$28.38M to -$120.51M.
What is the long-term trend for CleanSpark's net debt?: Over 4 years (2020 to 2024), CleanSpark's net debt has grown at a 150.0% compound annual growth rate (CAGR), from -$3.08M to -$120.51M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.