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CLSK vs MARA
Which Stock Would AI Choose? CleanSpark (CLSK) vs. MARA Holdings (MARA) Stock Comparison
Key Takeaways
- Both CLSK and MARA are Bitcoin miners pivoting toward AI (artificial intelligence) and HPC (high-performance computing) data centers, but their execution paths differ materially.
- CleanSpark secured a 20-year, $6.6 billion triple-net data center lease in Georgia, while MARA has pursued power-plant acquisitions and a Starwood Capital joint venture.
- Over the trailing 12 months, CLSK has outperformed MARA on a relative performance basis, though both remain highly volatile, high-beta equities.
- MARA sold roughly $1.5 billion of Bitcoin to de-lever its balance sheet, reducing its treasury ranking among public holders.
- Both companies reported recent net losses tied to Bitcoin mark-to-market adjustments, underscoring their shared sensitivity to crypto prices.
Introduction
CleanSpark, Inc. and MARA Holdings, Inc. are two of the most widely followed Bitcoin mining companies on U.S. exchanges, and both are now repositioning themselves as broader digital infrastructure businesses. This stock comparison is relevant for traders and investors tracking the crypto-to-AI transition, a theme that has driven sharp swings in share prices over recent months. Because the two names sit at different stages of that pivot—with contrasting financing, treasury, and asset strategies—their relative performance offers a useful lens on market positioning. This article examines their business models, recent momentum, risk factors, and how an AI-driven analytical framework might currently weigh the two.
CLSK Overview and Recent Performance
CleanSpark has historically focused on efficient, owned Bitcoin mining operations across the United States. In recent weeks, however, its investment narrative has shifted toward data center development. The company signed a 20-year triple-net lease for its Sandersville, Georgia campus with a high-investment-grade technology tenant, representing approximately $6.6 billion in base-term contracted revenue, with extension options potentially lifting the total toward $11.6 billion. CleanSpark funded the build-out in part through a $2.28 billion senior secured notes offering, avoiding new equity issuance.
This pivot has not insulated the stock from crypto volatility. Recent quarterly results showed lower revenue and a net loss driven by Bitcoin mark-to-market adjustments, even as production remained relatively steady. CLSK's market capitalization sits near $3.2 billion, and its beta of roughly 3.9 reflects above-average price swings. Over the trailing year the stock has gained ground, though it remains well below its 52-week high after pulling back in recent market activity. Sentiment has been shaped by the perceived credibility of the Georgia contract and lingering questions around execution risk.
MARA Overview and Recent Performance
MARA Holdings—formerly Marathon Digital—remains one of the largest public Bitcoin miners, with an energized hashrate of roughly 72.2 EH/s (exahash per second, a measure of mining compute power). Like CleanSpark, MARA is pivoting toward AI and HPC infrastructure, but it has emphasized a different playbook: acquiring power-generating assets. The company agreed to acquire the Long Ridge Energy & Power campus in Ohio for about $1.5 billion and announced a Texas land purchase that could add up to 2 GW (gigawatts) of grid capacity.
MARA's recent financial results were pressured by a declining Bitcoin price, with a net loss exceeding $1 billion driven by mark-to-market adjustments. To strengthen its balance sheet, MARA sold about $1.5 billion of Bitcoin during the quarter, using much of the proceeds to retire convertible debt. This reduced its standing among public corporate Bitcoin holders. With a beta near 5.4, MARA has exhibited even greater volatility than CLSK. Its shares have underperformed over the trailing year, though they have shown periodic rebounds alongside crypto market moves.
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Head-to-Head Comparison
The two companies share a sector, but their market positioning diverges. CleanSpark's near-term story centers on contracted, recurring revenue from a single large data center lease, with mining providing cash flow during the transition. MARA's strategy is more asset-heavy and diversified across power generation, with partnerships and acquisitions that expand its energy footprint but also carry integration and financing risk.
On growth drivers, CLSK offers a defined, contract-backed revenue path once its Georgia site begins delivering capacity, while MARA's upside rests on converting a larger portion of its power portfolio into AI and HPC workloads—a process still largely in development. Recent momentum has favored different names at different times: CLSK outperformed over the trailing year, while MARA has shown sharper short-term rebounds. Risk profiles also differ. Both carry significant Bitcoin price exposure, but MARA's larger treasury and higher beta amplify mark-to-market swings, whereas CleanSpark carries concentrated execution risk tied to one major project and higher-cost debt financing.
Tickeron AI Verdict
Based on observable factors such as trend consistency, catalyst clarity, and relative positioning, Tickeron's AI framework would likely lean toward CleanSpark at present. The company's contracted, triple-net lease provides a more visible and stable revenue foundation than MARA's still-developing asset-conversion pipeline, and CLSK's comparatively stronger trailing-year relative performance suggests more consistent market momentum. That said, the conclusion is probabilistic rather than definitive. CleanSpark's concentrated execution risk and elevated financing costs, set against MARA's larger scale and flexible power portfolio, mean the balance of evidence could shift with new contract announcements, financing developments, or crypto price moves. The AI verdict reflects current positioning, not a fixed or permanent ranking.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is CLSK is a StrongBuy and MARA is a StrongBuy.
CLSK | MARA | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 50 | 50 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 85 Overvalued | 96 Overvalued | |
PROFIT vs RISK RATING 1..100 | 100 | 100 | |
SMR RATING 1..100 | 98 | 99 | |
PRICE GROWTH RATING 1..100 | 64 | 65 | |
P/E GROWTH RATING 1..100 | 84 | 94 | |
SEASONALITY SCORE 1..100 | 50 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
CLSK's Valuation (85) in the null industry is in the same range as MARA (96) in the Miscellaneous Commercial Services industry. This means that CLSK’s stock grew similarly to MARA’s over the last 12 months.
CLSK's Profit vs Risk Rating (100) in the null industry is in the same range as MARA (100) in the Miscellaneous Commercial Services industry. This means that CLSK’s stock grew similarly to MARA’s over the last 12 months.
CLSK's SMR Rating (98) in the null industry is in the same range as MARA (99) in the Miscellaneous Commercial Services industry. This means that CLSK’s stock grew similarly to MARA’s over the last 12 months.
CLSK's Price Growth Rating (64) in the null industry is in the same range as MARA (65) in the Miscellaneous Commercial Services industry. This means that CLSK’s stock grew similarly to MARA’s over the last 12 months.
CLSK's P/E Growth Rating (84) in the null industry is in the same range as MARA (94) in the Miscellaneous Commercial Services industry. This means that CLSK’s stock grew similarly to MARA’s over the last 12 months.
| CLSK | MARA | |
|---|---|---|
| RSI ODDS (%) | 3 days ago 81% | 3 days ago 88% |
| Stochastic ODDS (%) | 3 days ago 90% | 3 days ago 90% |
| Momentum ODDS (%) | 3 days ago 90% | 3 days ago 90% |
| MACD ODDS (%) | 3 days ago 88% | 3 days ago 90% |
| TrendWeek ODDS (%) | 3 days ago 89% | 3 days ago 88% |
| TrendMonth ODDS (%) | 3 days ago 89% | 3 days ago 89% |
| Advances ODDS (%) | 20 days ago 88% | 20 days ago 88% |
| Declines ODDS (%) | 3 days ago 88% | 3 days ago 89% |
| BollingerBands ODDS (%) | 3 days ago 80% | 3 days ago 90% |
| Aroon ODDS (%) | 3 days ago 86% | 3 days ago 82% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
CLSK’s FA Score shows that 0 FA rating(s) are green while MARA’s FA Score has 0 green FA rating(s).
- CLSK’s FA Score: 0 green, 5 red.
- MARA’s FA Score: 0 green, 5 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
CLSK’s TA Score shows that 5 TA indicator(s) are bullish while MARA’s TA Score has 4 bullish TA indicator(s).
- CLSK’s TA Score: 5 bullish, 5 bearish.
- MARA’s TA Score: 4 bullish, 6 bearish.
Price Growth
CLSK (@Investment Banks/Brokers) experienced а -17.62% price change this week, while MARA (@Investment Banks/Brokers) price change was -14.07% for the same time period.
The average weekly price growth across all stocks in the @Investment Banks/Brokers industry was -3.00%. For the same industry, the average monthly price growth was -5.44%, and the average quarterly price growth was -2.23%.
Reported Earning Dates
CLSK is expected to report earnings on Dec 16, 2026.
MARA is expected to report earnings on Nov 11, 2026.
Industries' Descriptions
@Investment Banks/Brokers (-3.00% weekly)These banks specialize in underwriting (helping companies with debt financing or equity issuances), IPOs, facilitating mergers and other corporate reorganizations and acting as a broker or financial advisor for institutions. They might also trade securities on their own accounts. Investment banks potentially thrive on expanding its network of clients, since that could help them increase profits. Goldman Sachs, Morgan Stanley and CME Group Inc are some of the largest investment banking companies.
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