Technology
Price
$12.62
-7.34%Market Cap
$3.24B
Day High
$13.85
Day Low
$12.28
CleanSpark (CLSK) reported a net loss of $757.1M in Q1 2026, a dramatic reversal from $108.0M net income a year ago, driven by a massive surge in long-term debt (+178.6% YoY to $1.79B) and accelerating operating cash burn of $297.0M, while cash on hand more than doubled to $260.3M.
Key risk: Explosive Debt Load and Leverage Risk
Long-term debt surged 178.6% YoY to $1.79B, pushing the debt-to-equity ratio to 1.95x. With operating cash flow deeply negative at -$297.0M, the company's ability to service this debt relies heavily on continued access to capital markets. A tightening credit environment or declining Bitcoin prices could severely impair debt serviceability.