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Side-by-side financial comparison of CLEANSPARK, INC. (CLSK) and HIVE Digital Technologies Ltd. (HIVE). Click either name above to swap in a different company.
CLEANSPARK, INC. is the larger business by last-quarter revenue ($181.2M vs $93.1M, roughly 1.9× HIVE Digital Technologies Ltd.). HIVE Digital Technologies Ltd. runs the higher net margin — -98.1% vs -209.0%, a 110.9% gap on every dollar of revenue. On growth, HIVE Digital Technologies Ltd. posted the faster year-over-year revenue change (218.6% vs 11.6%). Over the past eight quarters, CLEANSPARK, INC.'s revenue compounded faster (106.4% CAGR vs 102.2%).
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.
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
CLSK vs HIVE — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $181.2M | $93.1M |
| Net Profit | $-378.7M | $-91.3M |
| Gross Margin | 47.2% | -27.1% |
| Operating Margin | -174.7% | — |
| Net Margin | -209.0% | -98.1% |
| Revenue YoY | 11.6% | 218.6% |
| Net Profit YoY | -253.5% | -234.0% |
| EPS (diluted) | — | $-0.38 |
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.
| Q4 25 | $181.2M | $93.1M | ||
| Q3 25 | — | $87.3M | ||
| Q2 25 | — | $45.6M | ||
| Q4 24 | — | $29.2M | ||
| Q3 24 | $89.3M | $22.6M | ||
| Q2 24 | $104.1M | $32.2M | ||
| Q1 24 | $111.8M | — | ||
| Q4 23 | $73.8M | $22.8M |
| Q4 25 | $-378.7M | $-91.3M | ||
| Q3 25 | — | $-15.8M | ||
| Q2 25 | — | $35.0M | ||
| Q4 24 | — | $68.2M | ||
| Q3 24 | $-62.2M | $80.0K | ||
| Q2 24 | $-236.2M | $-18.3M | ||
| Q1 24 | $126.7M | — | ||
| Q4 23 | $25.9M | $-24.5M |
| Q4 25 | 47.2% | -27.1% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | -13.6% | ||
| Q4 24 | — | -43.7% | ||
| Q3 24 | 36.0% | -66.1% | ||
| Q2 24 | 56.6% | -7.4% | ||
| Q1 24 | 69.3% | — | ||
| Q4 23 | 60.8% | -52.3% |
| Q4 25 | -174.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -73.5% | — | ||
| Q2 24 | -239.2% | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 38.6% | — |
| Q4 25 | -209.0% | -98.1% | ||
| Q3 25 | — | -18.1% | ||
| Q2 25 | — | 76.8% | ||
| Q4 24 | — | 233.2% | ||
| Q3 24 | -69.6% | 0.4% | ||
| Q2 24 | -226.9% | -56.7% | ||
| Q1 24 | 113.4% | — | ||
| Q4 23 | 35.1% | -107.8% |
| Q4 25 | — | $-0.38 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | — | $0.18 | ||
| Q4 24 | — | $0.52 | ||
| Q3 24 | — | $0.00 | ||
| Q2 24 | — | $-0.17 | ||
| Q1 24 | — | — | ||
| Q4 23 | — | $-0.29 |
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 | — |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $1.4B | $559.3M |
| Total Assets | $3.3B | $624.0M |
| Debt / EquityLower = less leverage | 1.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $458.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $40.5M | ||
| Q3 24 | $121.2M | $31.7M | ||
| Q2 24 | $126.1M | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $48.5M | $4.5M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $7.2M | — | ||
| Q2 24 | $1.3M | — | ||
| Q1 24 | $5.1M | — | ||
| Q4 23 | $7.0M | — |
| Q4 25 | $1.4B | $559.3M | ||
| Q3 25 | — | $624.6M | ||
| Q2 25 | — | $560.5M | ||
| Q4 24 | — | $430.9M | ||
| Q3 24 | $1.8B | $275.5M | ||
| Q2 24 | $1.4B | $268.6M | ||
| Q1 24 | $1.5B | — | ||
| Q4 23 | $809.0M | $122.9M |
| Q4 25 | $3.3B | $624.0M | ||
| Q3 25 | — | $693.0M | ||
| Q2 25 | — | $628.7M | ||
| Q4 24 | — | $478.6M | ||
| Q3 24 | $2.0B | $334.7M | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — | ||
| Q4 23 | $862.7M | — |
| Q4 25 | 1.29× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.00× | — | ||
| Q4 23 | 0.01× | — |
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 | $46.0M |
| 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.
| Q4 25 | $-161.1M | $46.0M | ||
| Q3 25 | — | $-10.6M | ||
| Q2 25 | — | $10.2M | ||
| Q4 24 | — | $-28.5M | ||
| Q3 24 | $-233.7M | $-2.2M | ||
| Q2 24 | $-58.4M | $-4.4M | ||
| Q1 24 | $-44.8M | — | ||
| Q4 23 | $-47.7M | — |
| Q4 25 | $-198.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $-55.5M | ||
| Q3 24 | $-299.8M | $-34.7M | ||
| Q2 24 | $-68.7M | — | ||
| Q1 24 | $-60.3M | — | ||
| Q4 23 | $-75.2M | — |
| Q4 25 | -109.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | -189.9% | ||
| Q3 24 | -335.8% | -153.4% | ||
| Q2 24 | -66.0% | — | ||
| Q1 24 | -54.0% | — | ||
| Q4 23 | -101.9% | — |
| Q4 25 | 20.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | 92.5% | ||
| Q3 24 | 74.0% | 143.9% | ||
| Q2 24 | 9.9% | — | ||
| Q1 24 | 13.8% | — | ||
| Q4 23 | 37.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.29× | ||
| Q4 24 | — | -0.42× | ||
| Q3 24 | — | -26.94× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.35× | — | ||
| Q4 23 | -1.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
