CleanSpark Inc. (CLSK) Options Positioning, Max Pain & Unusual Sweeps

$7.67 -6.46% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $7.57

CleanSpark Inc. (CLSK) carries a Roarable Rating of D- (Sell) with 42/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE D- • SELL / AVOID Cap $2.11B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is CLSK stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-02, CleanSpark Inc. (NASDAQ: CLSK) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 42/100 at a spot price of $7.67 (-6.46% 1D, market cap $2.11B). Pillar breakdown: Fundamental Cash Engine 8/20, Institutional 13F & Options Flow 5/20, Executive Insider Alignment 13/20, FRED Macro Regime Fit 6/20, and SEC Balance-Sheet Forensics 10/20. Across 1096 tracked Financials issuers, CLSK ranks #906 in composite RQD confidence.

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🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does CLSK compare to BTDR and UWMC in the Financials sector?
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Within the Financials sector (Finance: Consumer Services), CLSK carries a Roarable D- (42/100 RQD), trailing P/E of 5.8x, gross margin of —, and ROIC of 14.5%. By comparison, BTDR (Bitdeer Technologies Group (Class A)) holds a D- grade (43/100 RQD, P/E N/A, ROIC —, cap $2.06B) and UWMC (UWM Holdings Corporation (Class A)) posts a D grade (50/100 RQD, P/E 9.8x, ROIC 15.3%, cap $2.39B). Among the 5-stock peer group, CLSK leads on earnings multiple (5.8x) while UWMC leads on capital efficiency (15.3% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for CLSK?
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Per CLSK's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-09-30, CIK 0000827876), CleanSpark Inc. generated $766.3M in revenue (+102.2% YoY), $364.5M in net income, and -$495.5M in free cash flow against $3.33B in total assets and $874.8M in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

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INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $7.57 (-1.35%)🧬 Disciplined Float (+0.52% YoY Shares)⚙️ Cash Engine: 8/20 (D-) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (42/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-7.0% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERSELL / AVOID • D-
025507510042
2-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw D- · Rk D
Cash (8)Whales (5)SEC (13)Macro (6)CEO (10)
Each axis scored 0–20
12M PRICE TARGET CONE-7.2% Base Target
$20 Bull$7 Base$6 Bear
📬 FREE CLSK RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for CLSK)Realized 20D OHLCV Swing Band: ±12.5%
Deterministic 5-Pillar Attribution (42/100 Composite)
🔍 WHY CLSK SCORES 42/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+13/20 pts (31% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 6/9

▲ #2 Bullish Driver: Insider Conviction & Share Dilution+10/20 pts (24% of score)

SEC Form 4 / 13F Thermometer: 50% Net Buy • Disciplined Float (+0.52% YoY Shares)

▼ #1 Drag / Risk Factor: Whale & Options Positioning5/20 pts (-15 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-15 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
50
Grade C-$10.15-16.9% Next Q
Q2 (-2Q)
47
Grade D$8.43-2.8% Next Q
Q3 (-1Q)
45
Grade D$8.19-6.3% Next Q
Current
42
Grade D-$7.67-7% Hist 90D α
Trajectory: C- (50) → D- (42)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a CLSK Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While CLSK currently carries a cautious 42/100 (D-) rating due to Whale & Options Positioning (5/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Financials with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($11.38) and Max Pain ($8.05) forces dealer call-delta covering toward $20.27.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+0.52% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $CLSK• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “CLSK Beats Next Quarter EPS Consensus (Dec 29, 2026) & Holds Above 200D SMA”
CALL VS. PUT WHALE SHARE
— (No Active Options Snapshot)
Put/Call Ratio: — (No Active Options Snapshot)
MAX-PAIN EXPIRATION MAGNET
— (No Active Options Snapshot)
No active options chain max-pain snapshot on file
HISTORICAL 20D VOLATILITY SWING
±12.5%
Derived from 20D OHLCV bars (No Active Options Snapshot)

Active Strike Call vs. Put Concentration Ladder (CLSK)

— (No Active Options Snapshot) — No unusual CBOE strike concentration anomalies recorded in the current database snapshot for CLSK.

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Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring CLSK)

  • ✓Walkthrough of CLSK's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
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CLSK // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -40.17%🛡️ HOLDING TREND SUPPORT
2026-11-02O $8.58H $8.58L $7.67C $7.67VOL 11.82M
RES: $14.68SUP: $7.18SMA50: $11.38SMA200: $12.30
$20.00$16.56$13.11$9.67$6.22RES $14.68SUP $7.18$7.672026-05-042026-06-172026-08-042026-09-182026-11-02
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

CLSK Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)
-11.4%/yr Implied 5Y Growth

vs. +102.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on CLSK today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →
CLSK → RIOT Confirmed Filing
Bitcoin mining is a zero-sum hash-share competition: CleanSpark pure-play high-efficiency fleet expansion increases network difficulty for Riot Platforms, pushing Riot to evaluate repurposing Corsicana/Rockdale ERCOT megawatts toward AI/HPC colocation.
AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for CLSK today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (CLSK)

Financials Rank #906 of 1096 ⚔️ BTDR vs CLSK Full Matrix →

1. Head-to-Head Financials Peer Comparison (CLSK vs. BTDR, UWMC, HAPN, UPST)

Industry: Finance: Consumer Services (156 Tracked Issuers)

Across 1096 tracked Financials securities in the Roarable RQD universe, CleanSpark Inc. (CLSK) ranks #906 by composite RQD confidence (42/100, grade D-) and #421 by equity capitalization ($2.11B). Within this direct 5-issuer industry benchmark cohort, CLSK leads on earnings valuation at 5.8x trailing P/E, while UWMC leads on capital efficiency and profitability with 15.3% ROIC and — gross margin. UWMC currently holds the highest overall quantitative score in the immediate peer group at 50/100 (D) compared with CLSK at 42/100 (D-).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
CLSK ACTIVE
CleanSpark Inc.
D- 42/100 5.8x — 14.5% -6.46% $2.11B Benchmark Subject
BTDR
Bitdeer Technologies Group (Class A)
D- 43/100 — — — -11.48% $2.06B /btdr-vs-clsk →
UWMC
UWM Holdings Corporation (Class A)
D 50/100 9.8x — 15.3% +5.37% $2.39B /uwmc-vs-clsk →
HAPN
Happen Inc.
D- 42/100 13.6x — 9.0% -3.18% $1.85B /hapn-vs-clsk →
UPST
Upstart Holdings Inc.
E 32/100 45.1x — 3.2% -7.33% $2.42B /upst-vs-clsk →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-09-30 • CIK 0000827876

In its most recent audited fiscal period (FY2025, filed 2025-09-30), CleanSpark Inc. (CLSK) reported GAAP revenue of $766.3M (+102.2% vs. FY2024 revenue of $379.0M , and +355.0% cumulative change since FY2023) , GAAP net income of $364.5M, operating cash flow of -$461.0M, and free cash flow of -$495.5M (-97.6% YoY). On the balance sheet, CLSK closed FY2025 with $3.33B in total assets against $874.8M in total debt (Altman Z-Score: N/A, Piotroski F-Score: 6/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-09-30 $766.3M $364.5M -$461.0M -$495.5M $3.33B $874.8M
FY2024 (FY) 2024-09-30 $379.0M -$145.8M -$233.7M -$250.7M $2.78B $341.0M
FY2023 (FY) 2023-09-30 $168.4M -$138.1M -$17.2M -$24.8M $1.16B $271.0M

3. CLSK Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is CLSK stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-02, CleanSpark Inc. (NASDAQ: CLSK) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 42/100 at a spot price of $7.67 (-6.46% 1D, market cap $2.11B). Pillar breakdown: Fundamental Cash Engine 8/20, Institutional 13F & Options Flow 5/20, Executive Insider Alignment 13/20, FRED Macro Regime Fit 6/20, and SEC Balance-Sheet Forensics 10/20. Across 1096 tracked Financials issuers, CLSK ranks #906 in composite RQD confidence.

How does CLSK compare to BTDR and UWMC in the Financials sector?

Within the Financials sector (Finance: Consumer Services), CLSK carries a Roarable D- (42/100 RQD), trailing P/E of 5.8x, gross margin of —, and ROIC of 14.5%. By comparison, BTDR (Bitdeer Technologies Group (Class A)) holds a D- grade (43/100 RQD, P/E N/A, ROIC —, cap $2.06B) and UWMC (UWM Holdings Corporation (Class A)) posts a D grade (50/100 RQD, P/E 9.8x, ROIC 15.3%, cap $2.39B). Among the 5-stock peer group, CLSK leads on earnings multiple (5.8x) while UWMC leads on capital efficiency (15.3% ROIC).

What are the biggest fundamental strengths and SEC risk factors for CLSK?

Per CLSK's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-09-30, CIK 0000827876), CleanSpark Inc. generated $766.3M in revenue (+102.2% YoY), $364.5M in net income, and -$495.5M in free cash flow against $3.33B in total assets and $874.8M in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

Where is CLSK trading relative to its 50-day, 200-day, and 52-week technical levels?

CLSK last traded at $7.67 (-6.46% on volume of 20,137,696 shares), positioning the stock -32.60% below its 50-day simple moving average ($11.38) and -37.64% below its 200-day simple moving average ($12.30). Across its 52-week range of $7.29 to $19.30, CLSK sits at the 3.2% percentile with a 14-day RSI of 35.7 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($6.71 to $8.63).

CLSK Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

What is CLSK's options positioning and volatility profile?

Roarable tracks verified CBOE unusual options sweeps, put/call ratios, and OHLCV realized volatility bands for CLSK.

ROARABLE RATING BRIEF • RQD 42/100 (D-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

CLSK — CleanSpark Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5
As of: 2026-11-02T15:26:42Z

Roarable Rating Brief: What This Means to a Prospective Investor

The Roarable RQD score is 42 out of 100, graded D-, with the verdict "Roarable Sell — Vulnerable Balance Sheet & Flow" (per the Roarable RQD rating). The five pillars are:

  • Fundamental Cash Engine: 8 / 20. The pillar cites ROIC of 14.5% alongside a free cash flow yield of -18% (per the Roarable RQD rating and market data). Profitability on an accounting basis is strong, but cash generation is negative, so reported earnings are not translating into distributable cash in the source data.
  • Whale / 13F Flow: 5 / 20. The pillar reflects institutional accumulation and options positioning (per the Roarable RQD rating). Its low score indicates limited institutional support in the source data. Holder-level detail is not available in the source data.
  • Insider Conviction: 10 / 20. The pillar reflects SEC Form 4 and Congressional PTR cluster flow (per the Roarable RQD rating). Transaction-level detail is not available in the source data.
  • Macro Regime Fit: 6 / 20. The pillar cites a beta of 0.93 and sector sensitivity (per the Roarable RQD rating and market data). Beta below 1 suggests moderate market co-movement, but the sector-sensitivity component scored weakly.
  • Forensic Balance Sheet: 13 / 20. The pillar cites an Altman Z-Score of 2.5, a Piotroski F-Score of 6/9, and Debt/Equity of 0.5 (per the Roarable RQD rating). This is the strongest pillar, indicating moderate financial health on the forensic measures provided.

For a prospective investor, the upside case rests on the earnings and forensic balance sheet metrics, which are the highest-scoring elements. The valuation case is also notable: a P/E (TTM) of 5.8 and a forward P/E of 4.9 (per market data) are low on their face, but they sit alongside negative FCF yield, which means the earnings multiple is not confirmed by cash flow. The dominant risk, per the RQD, is the combination of weak flow pillars and negative cash generation. The rating is a structured summary of source data and is not a recommendation.

Snapshot

PriceMarket CapP/E (TTM)Forward P/EEV/EBITDAEPS (TTM)Dividend YieldBeta52-Wk RangeROIC %
8.2$2.11B5.84.97.11.420%0.93$7.29 - $19.314.5%

Business

CleanSpark Inc. is a NASDAQ-listed company classified in the Financials sector and Finance: Consumer Services industry (per the profile). The profile does not describe its products, customers, or revenue model. The Butterfly Supply-Chain Graph characterizes the company's theme as Bitcoin spot ETFs, custody, miners, and high-compute power, and describes a Bitcoin-mining hash-share competition with Riot Platforms (per the Butterfly Supply-Chain Graph). Specific product and customer detail is not available in source data.

Financial Trend

PeriodRevenueOperating IncomeNet IncomeEPSFCFCashDebt
FY 2025$766.3M$318.9M$364.5MN/A$-495.5M$458.1M$874.8M
FY 2024$379.0M$-149.0M$-145.8MN/A$-250.7M$276.6M$341.0M
FY 2023$168.4M$-131.0M$-138.1MN/A$-24.8MN/A$271.0M

Revenue rose from $168.4M (FY 2023) to $379.0M (FY 2024) and $766.3M (FY 2025). Operating income moved from losses in FY 2023 and FY 2024 to $318.9M in FY 2025. Net income followed the same pattern, reaching $364.5M in FY 2025. Free cash flow was negative in all three periods, including -$495.5M in FY 2025, consistent with the -18% FCF yield in market data. Debt grew from $271.0M to $874.8M across the periods, while cash was $458.1M in FY 2025. The source data provides an Altman Z-Score of 2.5, a Piotroski F-Score of 6/9, and Debt/Equity of 0.5 (per the Roarable RQD rating). Gross margin is reported as 0%, operating margin as 41.6%, and net margin as 47.6% (per market data); the gross margin figure is not reconciled with the other margin figures in the source data.

Recent Catalysts & News Wire Analysis

  • Catalyst (GREEN): A Yahoo Finance item asks whether CLSK is a bargain after its latest Bitcoin production update (per recent news).
  • Risk Watch (RED): A Seeking Alpha item carries the headline "CleanSpark: My Warning Was Correct, And There Are Still Fundamental Problems - Strong Sell" (per recent news).
  • Risk Watch (RED): A Benzinga item asks what is behind the stock's decline (per recent news).
  • Market Wire (YELLOW): A Yahoo Finance item reports the stock sliding as the market rises (per recent news).
  • Market Wire (YELLOW): A StockInvest.us item covers a stock price forecast for CLSK (per recent news).
  • Risk Watch (RED): A 24/7 Wall St. item reports CLSK sinking 7% as mining stocks lag Bitcoin (per recent news).
  • Butterfly link (CONFIRMED_FILING, MIXED_CONSTRAINT): A SUBSTITUTE relationship with RIOT is cited from both companies' FY2024 Form 10-K filings. The mechanism is zero-sum hash-share competition, with CleanSpark fleet expansion raising network difficulty for Riot, which may push Riot toward AI/HPC colocation (per the Butterfly Supply-Chain Graph). The graph lists proprietary signals as none.

Butterfly Effect: 2nd-Order Supply-Chain & Sector Ripples

The supply-chain graph reports no supply chain (per the Butterfly Supply-Chain Graph). Its single link is a substitute relationship with Riot Platforms (RIOT). Per the graph, the effect is mixed: CleanSpark's efficient fleet expansion increases network difficulty for Riot. A prospective investor should watch the following second-order items, each as stated in the source data:

  • Riot's potential conversion of Corsicana and Rockdale ERCOT megawatts toward AI/HPC colocation. The graph notes that this conversion requires backup generation, fiber redundancy, $8M–$11M per MW of retrofit CapEx, and creditworthy hyperscaler leases.
  • A competing explanation that ERCOT 4CP power-curtailment credits give Riot a structural net power cost advantage in peak summer months (per the Butterfly Supply-Chain Graph).
  • The next catalyst listed is Riot's Corsicana AI/HPC feasibility milestones compared with CleanSpark's fleet J/TH efficiency print (per the Butterfly Supply-Chain Graph).

Open Questions

  • What is the company's gross margin, given that the source data reports 0% gross margin alongside 41.6% operating margin and 47.6% net margin?
  • What drove the FY 2025 swing from an operating loss to $318.9M operating income, and how much of it is recurring?
  • What is the composition of the $874.8M debt, including maturities and interest terms?
  • What is the FY 2025 EPS, which is listed as N/A in the financials?
  • Which institutional holders, insiders, or Congressional filers are behind the flow signals scored in the RQD pillars?

CLSK Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for CleanSpark Inc. (CLSK) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to CLSK Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

CLSK Bull vs. Bear Conversation Board — What's Your Call at $7.67?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON CLSK 🐻 67% BEARISH CONVICTION
1. Pick Your Side on CLSK:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $7.22 (-12.0%)
📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is CLSK (D- • RQD 42/100) a Buy at $8.20?

Welcome to the CLSK (CleanSpark Inc.) Roar Pit. Current RQD Composite is 42/100 (Roarable Sell — Vulnerable Balance Sheet & Flow) in Finance: Consumer Services. Bulls point to capital efficiency (14.5% ROIC), while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

MU MultipleCompression Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $6.81 (-17.0%)
Spot @ $8.20

Pump the brakes on CLSK — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on CLSK, but look at what you are paying: 5.8x trailing P/E with tightening sector spreads. Unless CleanSpark Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

QU QuantViper Verified K Arena Trader 🐂 BULLISH 🎯 Target: $10.25 (+25.0%)
Spot @ $8.20

CLSK cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on CLSK, the market is fixating on short-term headline noise in Finance: Consumer Services and ignoring the balance sheet and cash flow trajectory. At $8.20 (52-wk range $7.29 - $19.30), any beat on forward guidance forces shorts and underweight funds to chase.

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