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Side-by-side financial comparison of CLEANSPARK, INC. (CLSK) and GRID DYNAMICS HOLDINGS, INC. (GDYN). Click either name above to swap in a different company.
CLEANSPARK, INC. is the larger business by last-quarter revenue ($181.2M vs $104.1M, roughly 1.7× GRID DYNAMICS HOLDINGS, INC.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — -1.4% vs -209.0%, a 207.6% gap on every dollar of revenue. On growth, CLEANSPARK, INC. posted the faster year-over-year revenue change (11.6% vs 3.7%). Over the past eight quarters, CLEANSPARK, INC.'s revenue compounded faster (106.4% CAGR vs 12.0%).
CleanSpark, Inc. is a U.S.-headquartered sustainable technology company operating two core business segments: low-carbon Bitcoin mining powered primarily by renewable and stranded energy resources, and end-to-end microgrid design, deployment, and operation services for commercial, industrial, and public sector clients across North America.
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
CLSK vs GDYN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $181.2M | $104.1M |
| Net Profit | $-378.7M | $-1.5M |
| Gross Margin | 47.2% | 34.8% |
| Operating Margin | -174.7% | 61.7% |
| Net Margin | -209.0% | -1.4% |
| Revenue YoY | 11.6% | 3.7% |
| Net Profit YoY | -253.5% | -150.6% |
| EPS (diluted) | — | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $104.1M | ||
| Q4 25 | $181.2M | $106.2M | ||
| Q3 25 | — | $104.2M | ||
| Q2 25 | — | $101.1M | ||
| Q1 25 | — | $100.4M | ||
| Q4 24 | — | $100.3M | ||
| Q3 24 | $89.3M | $87.4M | ||
| Q2 24 | $104.1M | $83.0M |
| Q1 26 | — | $-1.5M | ||
| Q4 25 | $-378.7M | $306.0K | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $2.9M | ||
| Q4 24 | — | $4.5M | ||
| Q3 24 | $-62.2M | $4.3M | ||
| Q2 24 | $-236.2M | $-817.0K |
| Q1 26 | — | 34.8% | ||
| Q4 25 | 47.2% | 34.0% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 34.1% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 36.9% | ||
| Q3 24 | 36.0% | 37.4% | ||
| Q2 24 | 56.6% | 35.6% |
| Q1 26 | — | 61.7% | ||
| Q4 25 | -174.7% | 0.5% | ||
| Q3 25 | — | -0.2% | ||
| Q2 25 | — | -0.1% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | -73.5% | 2.4% | ||
| Q2 24 | -239.2% | 0.0% |
| Q1 26 | — | -1.4% | ||
| Q4 25 | -209.0% | 0.3% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 5.2% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | -69.6% | 4.9% | ||
| Q2 24 | -226.9% | -1.0% |
| Q1 26 | — | $-0.02 | ||
| Q4 25 | — | $0.01 | ||
| Q3 25 | — | $0.01 | ||
| Q2 25 | — | $0.06 | ||
| Q1 25 | — | $0.03 | ||
| Q4 24 | — | $0.06 | ||
| Q3 24 | — | $0.05 | ||
| Q2 24 | — | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $458.1M | $327.5M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $1.4B | $530.1M |
| Total Assets | $3.3B | $605.0M |
| Debt / EquityLower = less leverage | 1.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $327.5M | ||
| Q4 25 | $458.1M | $342.1M | ||
| Q3 25 | — | $338.6M | ||
| Q2 25 | — | $336.8M | ||
| Q1 25 | — | $325.5M | ||
| Q4 24 | — | $334.7M | ||
| Q3 24 | $121.2M | $231.3M | ||
| Q2 24 | $126.1M | $256.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $7.2M | — | ||
| Q2 24 | $1.3M | — |
| Q1 26 | — | $530.1M | ||
| Q4 25 | $1.4B | $542.1M | ||
| Q3 25 | — | $537.7M | ||
| Q2 25 | — | $532.2M | ||
| Q1 25 | — | $517.4M | ||
| Q4 24 | — | $517.8M | ||
| Q3 24 | $1.8B | $400.2M | ||
| Q2 24 | $1.4B | $388.4M |
| Q1 26 | — | $605.0M | ||
| Q4 25 | $3.3B | $612.9M | ||
| Q3 25 | — | $613.2M | ||
| Q2 25 | — | $608.9M | ||
| Q1 25 | — | $590.9M | ||
| Q4 24 | — | $592.2M | ||
| Q3 24 | $2.0B | $477.3M | ||
| Q2 24 | $1.5B | $443.6M |
| Q1 26 | — | — | ||
| Q4 25 | 1.29× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-161.1M | — |
| Free Cash FlowOCF − Capex | $-198.1M | — |
| FCF MarginFCF / Revenue | -109.3% | — |
| Capex IntensityCapex / Revenue | 20.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-626.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-161.1M | $9.9M | ||
| Q3 25 | — | $7.0M | ||
| Q2 25 | — | $14.4M | ||
| Q1 25 | — | $9.4M | ||
| Q4 24 | — | $7.1M | ||
| Q3 24 | $-233.7M | $9.2M | ||
| Q2 24 | $-58.4M | $10.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-198.1M | $6.1M | ||
| Q3 25 | — | $2.9M | ||
| Q2 25 | — | $10.2M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | — | $4.4M | ||
| Q3 24 | $-299.8M | $5.9M | ||
| Q2 24 | $-68.7M | $8.0M |
| Q1 26 | — | — | ||
| Q4 25 | -109.3% | 5.7% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 10.1% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | -335.8% | 6.8% | ||
| Q2 24 | -66.0% | 9.7% |
| Q1 26 | — | — | ||
| Q4 25 | 20.4% | 3.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 4.1% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 74.0% | 3.7% | ||
| Q2 24 | 9.9% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 32.34× | ||
| Q3 25 | — | 5.92× | ||
| Q2 25 | — | 2.73× | ||
| Q1 25 | — | 3.21× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
