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If you are wondering whether CleanSpark’s current share price lines up with its underlying value, this article will walk through the key signals without the noise.
The stock recently closed at US$9.85, with returns of a 2.3% decline over 7 days, 26.3% decline over 30 days, 14.7% decline year to date and 6.2% decline over 1 year, set against a very large 3 year return.
Recent news coverage has focused on how bitcoin mining companies are reacting to changing market conditions and capital needs, which helps frame sentiment around CleanSpark. For investors, this context can be useful when weighing whether recent price swings reflect shorter term mood shifts or longer term business factors.
CleanSpark currently has a valuation score of 2 out of 6. Next, we will look at what different valuation methods say about the stock, before finishing with a more rounded way to think about value beyond the usual models.
CleanSpark scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.
The DCF model estimates what a company could be worth by projecting future cash flows and discounting them back to today, allowing a comparison between that value and the current share price.
For CleanSpark, the model used is a 2 Stage Free Cash Flow to Equity approach, based on cash flows in US$. The latest twelve month free cash flow is a loss of $1,423.62 million. Looking ahead, the model uses analyst input where available, including a projected free cash flow of $109 million in 2026 and $8 million in 2027, then extends further years using its own extrapolations. By 2035, the extrapolated free cash flows in the model are close to zero, with small positive and negative figures.
After discounting all these projected cash flows back to today, the estimated intrinsic value comes out at roughly US$0.41 per share. Compared with the recent share price of US$9.85, this DCF output suggests the stock is trading at a level that is significantly higher than the model’s estimated intrinsic value.
Result: OVERVALUED
Our Discounted Cash Flow (DCF) analysis suggests CleanSpark may be overvalued by 2316.3%. Discover 53 high quality undervalued stocks or create your own screener to find better value opportunities.
CLSK Discounted Cash Flow as at Feb 2026
Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for CleanSpark.
The preferred multiple here is the P/S ratio, which can be useful for companies where revenue is a clearer anchor than profits, especially if earnings are volatile or negative. It lets you see how much investors are currently paying for each dollar of sales.
In general, higher growth expectations and lower perceived risk tend to support a higher “normal” or “fair” P/S ratio. Slower expected growth or higher risk usually point to a lower one. So context around the business and its industry really matters.
CleanSpark currently trades on a P/S ratio of 3.21x. That sits a little below the Software industry average of 3.60x and well below the peer group average of 24.10x. Simply Wall St’s Fair Ratio for CleanSpark is 3.11x, which is its proprietary estimate of what the P/S could be given factors such as growth profile, industry, profit margin, market cap and key risk indicators.
This Fair Ratio aims to be more tailored than a simple comparison with peers or the broad industry, because it adjusts for company specific traits instead of assuming all software names deserve the same multiple. With the current P/S at 3.21x versus a Fair Ratio of 3.11x, the gap is small, suggesting the valuation is close to what the model would expect.
Result: ABOUT RIGHT
NasdaqCM:CLSK P/S Ratio as at Feb 2026
P/S ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 23 top founder-led companies.
Earlier we mentioned that there is an even better way to understand valuation. On Simply Wall St you can use Narratives, where you set out your story for a company like CleanSpark, link that story to specific forecasts for revenue, earnings and margins, and then see a Fair Value that updates automatically when new information such as news or earnings arrives. This makes it easy to compare that Fair Value to the current price and decide what action, if any, makes sense for you, whether you lean closer to a very optimistic view that supports a Fair Value of US$30.00 or you are more cautious and prefer something nearer US$14.69, both of which you can explore and customise within the Community page alongside other investors’ views.
Do you think there’s more to the story for CleanSpark? Head over to our Community to see what others are saying!
NasdaqCM:CLSK 1-Year Stock Price Chart
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include CLSK.
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