CleanSpark Management
Management criteria checks 1/4
CleanSpark's CEO is Matt Schultz, appointed in Aug 2025, has a tenure of less than a year. total yearly compensation is $44.90M, comprised of 1.9% salary and 98.1% bonuses, including company stock and options. directly owns 1.11% of the company’s shares, worth $34.47M. The average tenure of the management team and the board of directors is 1.6 years and 6.6 years respectively.
Key information
Matt Schultz
Chief executive officer
US$44.9m
Total compensation
| CEO salary percentage | 1.92% |
| CEO tenure | less than a year |
| CEO ownership | 1.1% |
| Management average tenure | 1.6yrs |
| Board average tenure | 6.6yrs |
Recent management updates
Recent updates
CLSK: Preferred Payout Structure Will Support Future Cash Flow Upside
Analysts have trimmed CleanSpark's average price target slightly, with the fair value estimate moving from about $19.38 to $19.21. This reflects recent target cuts of around $3 to $9 as they factor in updated assumptions on discount rates, revenue growth and profit margins.CLSK: Texas AI Data Hub Will Support Future Cash Flow Upside
Analysts have reduced their price expectations for CleanSpark, reflected in a lower fair value estimate from about $23.16 to $19.38. This follows updates to assumptions for revenue growth, profit margins and future P/E multiples after a series of recent target cuts, alongside supportive commentary on the company's BTC mining scale and expansion into high performance computing and AI datacenters.
CLSK: Power Secured AI Data Center Expansion Will Drive Future Upside
Analysts kept their average CleanSpark price target steady at $14.00, making modest adjustments to discount rate, growth, and margin inputs as they weigh recent target cuts from several firms against new Buy and Outperform initiations that emphasize the company's power capacity and AI data center expansion plans. Analyst Commentary Recent research on CleanSpark highlights a split view, with some firms initiating positive coverage around the company’s power capacity and AI data center ambitions, while others are reworking their models and trimming targets.
CLSK: Texas Power Capacity Will Support Future AI And HPC Leasing
CleanSpark's updated analyst narrative keeps fair value unchanged at $26.00, with the modest price target reductions across the Street tied more to higher discount rates and sector multiples than to any shift in analysts' views on the company's revenue growth, profit margin profile, or future P/E assumptions. Analyst Commentary Recent Street research on CleanSpark points to a mix of recalibrated price targets and fresh coverage, with most of the detailed commentary emphasizing the company’s execution on power capacity and its push into high performance computing and AI data centers.CleanSpark: 1.8 GW Of Power And An Asymmetric Buying Opportunity
Mar 11CLSK: Texas Power Capacity Will Drive Future AI And HPC Leasing
Analysts have trimmed their CleanSpark fair value estimate from $30.00 to $26.00, reflecting updated assumptions for a higher discount rate, more moderate revenue growth and profit margins, and a higher future P/E multiple, even as recent research still points to opportunity in Bitcoin mining and AI data center expansion. Analyst Commentary Recent Street research on CleanSpark shows a mix of trimmed price targets and fresh, positive coverage, with several bullish analysts still highlighting upside potential tied to execution in Bitcoin mining and the buildout of AI and high performance computing, or HPC, infrastructure.CLSK: Power Secured AI And HPC Buildout Will Drive Future Upside
Analysts have trimmed their CleanSpark fair value estimate from about $14.69 to $14.00, reflecting lower revenue growth assumptions, a higher discount rate, and a reset future P/E multiple, despite continued interest in the company’s high performance computing and AI data center expansion. Analyst Commentary Recent research has featured a mix of enthusiasm for CleanSpark's AI and high performance computing buildout alongside a series of trimmed price targets that highlight execution and valuation risks.Some Confidence Is Lacking In CleanSpark, Inc. (NASDAQ:CLSK) As Shares Slide 26%
Feb 13
CLSK: Texas Power Footprint Will Support Future AI Data Center Leasing
Analysts have made a modest downward adjustment to their CleanSpark price targets, trimming several estimates by around $0.50 to $3.00 as they factor in mixed sector multiples along with growing interest in the company's high performance computing and AI data center expansion. Analyst Commentary Across recent research, several bullish analysts remain constructive on CleanSpark even as some targets are trimmed to reflect sector multiples and higher spending tied to the company’s pivot into high performance computing and AI data centers.CLSK: Texas AI Power Capacity Will Drive Future HPC Leasing Upside
Analysts maintained their average fair value estimate for CleanSpark at $30.00. However, recent price targets in the roughly $22.00 to $30.00 range reflect mixed views on near term profitability and P/E compression, as well as growing interest in the company’s expansion into high performance computing and AI data centers.CLSK: Texas AI Data Center Expansion Will Drive Future EBITDA Upside
Analysts have lifted their CleanSpark fair value estimate to $30 from $25, citing the company’s accelerating push into high-performance computing and AI data centers, growing contracted power capacity, and expectations for stronger, more diversified EBITDA from new HPC tenants, despite recent peer multiple compression. Analyst Commentary Bullish analysts acknowledge recent trims to near term price targets but continue to frame CleanSpark as a structural winner in the transition from pure play Bitcoin mining to a blended model that includes high performance computing and AI data centers.Slammed 28% CleanSpark, Inc. (NASDAQ:CLSK) Screens Well Here But There Might Be A Catch
Dec 28CLSK: Expansion Into AI And HPC Data Centers Will Drive Future Upside
The analyst price target for CleanSpark has been modestly reduced, with the consensus implied fair value edging down by about $0.31 to roughly $14.69. Analysts are factoring in lower expected profitability and sector multiple compression, partially offset by stronger long term revenue growth expectations tied to the company’s expansion into HPC and AI data centers.CLSK: Texas AI Data Center Campus Will Unlock Billions In Shareholder Value
CleanSpark's analyst price target has been trimmed modestly, with the updated fair value estimate edging down by about $1 per share as analysts balance softer peer multiples and higher near term spending against accelerating high performance computing and AI data center growth prospects. Analyst Commentary Street research on CleanSpark reflects a generally constructive outlook on the company’s transition toward high performance computing and AI data centers, even as near term spending and sector multiple compression lead to some modest target reductions.CLSK: Texas Data Center Expansion Will Unlock Billions In Shareholder Value By 2027
CleanSpark's analyst price target decreased modestly by $0.09 to approximately $23.98. Analysts cite slightly reduced profit margin and revenue growth expectations, despite the company's ongoing progress in high-performance computing and AI data center initiatives.CLSK: Texas Expansion Will Unlock Major Shareholder Value By 2027
CleanSpark's fair value estimate has increased from $22.34 to $24.07 per share. Analysts cite recent strategic expansions into AI and high-performance computing data centers as key drivers behind the raised price target.CleanSpark, Inc.'s (NASDAQ:CLSK) P/S Is Still On The Mark Following 56% Share Price Bounce
Oct 28Analysts Boost CleanSpark Price Target Highlighting Growth Catalysts and Improved Profit Outlook
CleanSpark's analyst price target has been raised from $20.16 to $22.34, reflecting increased expectations for revenue growth and profit margins. Analysts cite expanding high performance computing initiatives and site visits confirming strategic execution.Efficient Bitcoin Mining Will Expand Under Supportive Policy Amid Volatility
Analysts recently updated their price targets for CleanSpark, with a mixed outlook as some raised targets as high as $25 while others lowered them to $14. This reflects evolving views on bitcoin mining profitability and the need for greater clarity around high performance compute initiatives.It's Down 27% But CleanSpark, Inc. (NASDAQ:CLSK) Could Be Riskier Than It Looks
Aug 22We Believe CleanSpark's (NASDAQ:CLSK) Earnings Are A Poor Guide For Its Profitability
Aug 14Calculating The Fair Value Of CleanSpark, Inc. (NASDAQ:CLSK)
Jul 30CleanSpark, Inc.'s (NASDAQ:CLSK) Shares Leap 28% Yet They're Still Not Telling The Full Story
Jul 01CleanSpark, Inc.'s (NASDAQ:CLSK) Shares Leap 25% Yet They're Still Not Telling The Full Story
Apr 27
Energy Expansion And 50 Exahash Bitcoin Mining Will Expand Capabilities
Strategic expansion in energy-rich states and focus on scaling aims to boost Bitcoin production and future revenue growth.Not Many Are Piling Into CleanSpark, Inc. (NASDAQ:CLSK) Stock Yet As It Plummets 25%
Mar 04CleanSpark's Summer Buying Spree
Oct 02CleanSpark, Inc.'s (NASDAQ:CLSK) Stock Retreats 34% But Revenues Haven't Escaped The Attention Of Investors
Aug 18CleanSpark, Inc.'s (NASDAQ:CLSK) Price In Tune With Revenues
Jul 04CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2025 | n/a | n/a | -US$267m |
| Sep 30 2025 | US$45m | US$863k | US$353m |
| Jun 30 2025 | n/a | n/a | US$292m |
| Mar 31 2025 | n/a | n/a | -US$196m |
| Dec 31 2024 | n/a | n/a | US$67m |
| Sep 30 2024 | US$14m | US$720k | -US$149m |
| Jun 30 2024 | n/a | n/a | -US$158m |
| Mar 31 2024 | n/a | n/a | US$64m |
| Dec 31 2023 | n/a | n/a | -US$78m |
| Sep 30 2023 | US$6m | US$540k | -US$134m |
| Jun 30 2023 | n/a | n/a | -US$104m |
| Mar 31 2023 | n/a | n/a | -US$106m |
| Dec 31 2022 | n/a | n/a | -US$86m |
| Sep 30 2022 | US$23m | US$350k | -US$40m |
| Jun 30 2022 | n/a | n/a | US$2m |
| Mar 31 2022 | n/a | n/a | US$5m |
| Dec 31 2021 | n/a | n/a | US$14m |
| Sep 30 2021 | US$12m | US$350k | -US$8m |
| Jun 30 2021 | n/a | n/a | -US$17m |
| Mar 31 2021 | n/a | n/a | -US$11m |
| Dec 31 2020 | n/a | n/a | -US$29m |
| Sep 30 2020 | US$1m | n/a | -US$23m |
| Jun 30 2020 | n/a | n/a | -US$28m |
| Mar 31 2020 | n/a | n/a | -US$24m |
| Dec 31 2019 | n/a | n/a | -US$26m |
| Sep 30 2019 | US$430k | n/a | -US$26m |
Compensation vs Market: Matt's total compensation ($USD44.90M) is above average for companies of similar size in the US market ($USD7.20M).
Compensation vs Earnings: Matt's compensation has increased whilst the company is unprofitable.
CEO
Matt Schultz (56 yo)
less than a year
Tenure
US$44,901,507
Compensation
Mr. S. Matthew Schultz, also known as Matt, serves as Executive Director and Executive Chairman of CleanSpark, Inc. and served as its Chairman of the Board since October 4, 2019 and also serves as CEO Sinc...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman | less than a year | US$44.90m | 1.11% $ 34.5m | |
| President & CFO | 4.4yrs | US$16.14m | 0.26% $ 8.1m | |
| CTO & COO | 2yrs | US$11.64m | 0.051% $ 1.6m | |
| Executive VP & Chief Development Officer | less than a year | US$11.64m | 0.058% $ 1.8m | |
| Chief Accounting Officer | 1.6yrs | no data | 0.018% $ 575.8k | |
| Senior Director of Investor Relations | no data | no data | no data | |
| Corporate Secretary & General Counsel | 1yr | no data | no data | |
| Senior Vice President of Operations | 2.3yrs | no data | no data | |
| Chief Business Officer | 2.3yrs | no data | no data | |
| SVP of AI Data Centers | less than a year | no data | no data |
1.6yrs
Average Tenure
47yo
Average Age
Experienced Management: CLSK's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman | 12.2yrs | US$44.90m | 1.11% $ 34.5m | |
| Lead Independent Director | 11.3yrs | US$642.21k | 0.12% $ 3.7m | |
| Independent Director | 6.6yrs | US$597.21k | 0.055% $ 1.7m | |
| Independent Director | 6.6yrs | US$637.21k | 0.045% $ 1.4m | |
| Independent Director | 3.4yrs | US$587.21k | 0.048% $ 1.5m |
6.6yrs
Average Tenure
59yo
Average Age
Experienced Board: CLSK's board of directors are considered experienced (6.6 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/03 07:26 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/09/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
CleanSpark, Inc. is covered by 13 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gautam Chhugani | Bernstein |
| Nicholas Giles | B. Riley Securities, Inc. |
| Gregory Lewis | BTIG |