CLSK
CleanSpark Inc.
Is CLSK Halal?
Bitcoin mining — energy-efficient operations.
What You Should Know
CleanSpark operates sustainable Bitcoin mining. Some scholars accept. Its March 31, 2026 Form 10-Q reports $2,913.501 million of assets, $1,790.681 million of interest-bearing debt, $260.287 million of cash and $136.408 million of quarterly bitcoin-mining revenue. Debt/assets is 61.46%, so the examined FTSE, MSCI and Malaysia debt limits fail alongside the retained speculation concern.
⚠️ Concerns
- •Speculation element
- •High debt/assets
- •Mining energy use
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,790.681 / 2,913.501
260.287 / 2,913.501
260.287 / 2,913.501
3.072 / 136.408
- Financial
- Fails
- Overall
- Fails
Debt/assets is 61.46%, liquidity/assets is 8.93%, receivables-plus-cash/assets is 8.93% and disclosed interest income is 2.25%; debt exceeds the examined 33.333% limit and the bitcoin-mining activity proxy fails.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 61.46%, above the examined 33.33% limit; liquidity and receivables-plus-cash are below the examined limits, but the bitcoin-mining activity screen also fails.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 61.46%, above the examined 33% limit; the conservative bitcoin-mining activity proxy also fails.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; market-cap methods cannot cure the debt or activity failure.
Business-activity disclosure
CleanSpark operates bitcoin mining and is expanding data-center infrastructure. The retained qualitative review treats the bitcoin-mining core as a material speculation concern, while scholars differ on digital-asset permissibility.
Limitation: The filing identifies bitcoin-mining revenue but does not supply a school-neutral prohibited-revenue taxonomy; the revenue proxy is deliberately conservative.
Purification
CleanSpark discloses $3.072 million of interest income, but no scholar-approved purification percentage is asserted for digital-asset activity.
Inputs, assumptions and primary sources
- Amounts are USD millions from CleanSpark's March 31, 2026 Form 10-Q.
- Interest-bearing debt is $2.485 million current debt plus $1,788.196 million long-term debt, net of discounts and issuance costs.
- Cash is $260.287 million; the filing presents no separate accounts-receivable balance; quarterly bitcoin-mining revenue is $136.408 million.
- The full disclosed quarterly revenue is used as a conservative activity proxy because bitcoin mining is the reported revenue stream; this is not a claim that every crypto-related activity is universally prohibited.
- Disclosed interest income is $3.072 million, or 2.25% of quarterly revenue.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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