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CLSK vs RIOT
Which ETF would AI Choose? CleanSpark, Inc. (CLSK) vs. Riot Platforms, Inc. (RIOT)
Key Takeaways
- CLSK and RIOT are not diversified funds; they are single-company common stocks that function as concentrated, high-beta vehicles for Bitcoin mining and data-center infrastructure exposure.
- Both companies are pivoting toward AI and high-performance computing (HPC) data centers, but RIOT is further along commercially, with leases tied to AMD and a leading frontier AI lab.
- Neither instrument carries an expense ratio or underlying holdings, because each is an equity rather than an exchange-traded fund; investors instead absorb single-name business risk.
- CLSK emphasizes fleet efficiency and a large contracted power portfolio, while RIOT runs a vertically integrated mining, engineering, and data-center model.
- Relative positioning hinges on data-center lease execution, Bitcoin treasury management, and financing discipline rather than passive index construction.
Introduction
Investors frequently compare CLSK and RIOT as two of the most liquid, Nasdaq-listed ways to gain exposure to the Bitcoin-mining and digital-infrastructure theme. It is important to clarify that these tickers are not actually exchange-traded funds: CLSK is CleanSpark, Inc., and RIOT is Riot Platforms, Inc. As common stocks, they offer no diversification, no index tracking, and no expense ratio. Instead, they are direct competitors pursuing similar investor goals, making this ETF-style comparison a useful framework for understanding structural differences, sector exposure, and relative positioning between two high-volatility, single-company instruments.
CleanSpark, Inc. (CLSK) Overview
CleanSpark, Inc. is a Bitcoin-mining operator and emerging data-center developer with a self-described strategy of monetizing low-cost power by producing compute. As a stock, it has no fund holdings or expense ratio; the relevant structural metrics are operational. The company reports an operational hashrate of roughly 50 EH/s (exahash per second, a measure of mining compute power) and a fleet efficiency near 16.07 J/Th (joules per terahash, a measure of energy used per unit of compute). It controls more than 1.8 GW (gigawatts) of contracted power, with about 808 MW (megawatts) currently utilized, and holds a Bitcoin treasury of roughly 13,500 coins. Its distinguishing feature is a multi-gigawatt AI and HPC commercialization push, anchored by a Sandersville, Georgia campus and two Texas sites, supported by a recent $2.276 billion senior secured notes offering to fund build-out tied to approximately $6.6 billion in contracted revenue.
Riot Platforms, Inc. (RIOT) Overview
Riot Platforms, Inc. is a vertically integrated Bitcoin miner, engineering provider, and large-scale data-center developer. Like CLSK, it is a common stock with no expense ratio or underlying holdings. Riot operates mining facilities in central Texas and Kentucky, reporting a deployed hashrate of roughly 42–44 EH/s, equal to about 4.6% of the global network, and a cost to mine near $44,600 per Bitcoin before depreciation. Its power portfolio totals about 2.0 GW across Corsicana, Rockdale, and Kentucky. Riot's distinguishing feature is its data-center leasing business, which includes a 50 MW (megawatt) deployment for AMD and a landmark lease with a leading frontier AI lab carrying roughly $9.1 billion in initial contract value, alongside an in-house engineering segment with a data-center-heavy backlog.
Industry and Thematic Backdrop
Both names sit at the intersection of Bitcoin economics and the AI-infrastructure boom. Bitcoin miners face rising global network hashrate, which compresses per-coin rewards, while halving cycles periodically reduce block subsidies. In response, the sector is repurposing energized power and industrial sites into AI and HPC data centers, where demand from hyperscalers and frontier AI labs has created premium, contracted revenue streams. Capital flows have favored operators with credible tenants, approved power capacity, and non-dilutive financing. Regulatory scrutiny over grid load and power procurement, particularly in Texas through ERCOT (the Electric Reliability Council of Texas), and sensitivity to interest rates on data-center debt are key sector risks that shape both instruments' outlooks.
Performance and Positioning Comparison
In recent market cycles, both CLSK and RIOT have behaved as high-beta Bitcoin proxies, amplifying moves in the underlying asset in both directions. Relative positioning has diverged along strategic lines: Riot's earlier conversion of mining capacity into revenue-generating leases with investment-grade-quality tenants has given it more visible, recurring cash-flow prospects, while CleanSpark's sharper operational efficiency and large contracted power pipeline keep it a purer lever on mining economics with an emerging AI option. Earnings cycles of top holdings are less relevant here than Bitcoin price, network difficulty, power costs, and the pace of lease execution. Consequently, both carry elevated volatility, with Riot's diversified segments offering somewhat broader revenue composition and CleanSpark concentrating more in mining efficiency and fleet scale.
AI Screener
Tickeron's AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market using technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs with customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps surface trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Whether you are comparing Bitcoin-mining equities like CLSK and RIOT or scanning the broader digital-infrastructure universe, the AI Screener can sharpen your research workflow.
Tickeron AI Verdict
Based on observable factors, Tickeron's AI would likely assign a modest relative edge to RIOT in the current environment. Its more advanced data-center lease execution, a larger and more diversified revenue mix spanning mining, engineering, and leasing, and visible contracted cash flows may offer somewhat more consistent trend support and reduced single-stream risk. CLSK, however, presents superior fleet efficiency and a disciplined, power-first growth pipeline that could outperform if Bitcoin prices rally strongly. The verdict is probabilistic: Riot's structural diversification and revenue visibility currently look more resilient, while CleanSpark's leverage to a sharp Bitcoin recovery could shift the balance quickly. Neither should be treated as a diversified fund substitute.
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 Hold and RIOT is a Buy.
CLSK in upward trend: price may ascend as a result of having broken its lower Bollinger Band on November 04, 2026
CLSK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 26 of 29 cases where CLSK's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where CLSK's RSI Oscillator exited the oversold zone, 24 of 27 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 89%.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 56 of 64 cases where CLSK's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 88%.
The Moving Average Convergence Divergence (MACD) for CLSK just turned positive on November 11, 2026. Looking at past instances where CLSK's MACD turned positive, the stock continued to rise in 35 of 41 cases over the following month. The odds of a continued upward trend are 85%.
Following a +21.65% 3-day Advance, the price is estimated to grow further. Considering data from situations where CLSK advanced for three days, in 226 of 260 cases, the price rose further within the following month. The odds of a continued upward trend are 87%.
Bearish Trend Analysis
The 10-day moving average for CLSK crossed bearishly below the 50-day moving average on October 08, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 14 of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 88%.
The 50-day moving average for CLSK moved below the 200-day moving average on October 13, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CLSK declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 89%.
The Aroon Indicator for CLSK entered a downward trend on November 12, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 65 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.078) is normal, around the industry mean (3.120). P/E Ratio (-1.630) is within average values for comparable stocks, (6.734). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.809). Dividend Yield (0.000) settles around the average of (8.976) among similar stocks. P/S Ratio (5.397) is also within normal values, averaging (16.899).
The Tickeron Price Growth Rating for this company is 87 (best 1 - 100 worst), indicating slightly worse than average price growth. CLSK’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 98 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 98 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CLSK’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
RIOT's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for RIOT turned positive on November 03, 2026. Looking at past instances where RIOT's MACD turned positive, the stock continued to rise in 41 of 43 cases over the following month. The odds of a continued upward trend are 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where RIOT's RSI Oscillator exited the oversold zone, 25 of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 81%.
The Momentum Indicator moved above the 0 level on November 03, 2026. You may want to consider a long position or call options on RIOT as a result. In 72 of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 89%.
Following a +3.51% 3-day Advance, the price is estimated to grow further. Considering data from situations where RIOT advanced for three days, in 240 of 271 cases, the price rose further within the following month. The odds of a continued upward trend are 89%.
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
RIOT moved below its 50-day moving average on November 12, 2026 date and that indicates a change from an upward trend to a downward trend.
The 50-day moving average for RIOT moved below the 200-day moving average on October 23, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where RIOT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 87%.
RIOT broke above its upper Bollinger Band on November 06, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for RIOT entered a downward trend on November 10, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 51 (best 1 - 100 worst), indicating steady price growth. RIOT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 89 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.860) is normal, around the industry mean (3.120). P/E Ratio (-4.352) is within average values for comparable stocks, (6.734). Projected Growth (PEG Ratio) (0.800) is also within normal values, averaging (0.809). Dividend Yield (0.239) settles around the average of (8.976) among similar stocks. P/S Ratio (10.504) is also within normal values, averaging (16.899).
The Tickeron PE Growth Rating for this company is 98 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 98 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. RIOT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
CLSK | RIOT | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 12 | 38 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 65 Fair valued | 89 Overvalued | |
PROFIT vs RISK RATING 1..100 | 100 | 100 | |
SMR RATING 1..100 | 98 | 98 | |
PRICE GROWTH RATING 1..100 | 87 | 51 | |
P/E GROWTH RATING 1..100 | 98 | 98 | |
SEASONALITY SCORE 1..100 | 50 | n/a |
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 (65) in the null industry is in the same range as RIOT (89) in the Financial Conglomerates industry. This means that CLSK’s stock grew similarly to RIOT’s over the last 12 months.
CLSK's Profit vs Risk Rating (100) in the null industry is in the same range as RIOT (100) in the Financial Conglomerates industry. This means that CLSK’s stock grew similarly to RIOT’s over the last 12 months.
CLSK's SMR Rating (98) in the null industry is in the same range as RIOT (98) in the Financial Conglomerates industry. This means that CLSK’s stock grew similarly to RIOT’s over the last 12 months.
RIOT's Price Growth Rating (51) in the Financial Conglomerates industry is somewhat better than the same rating for CLSK (87) in the null industry. This means that RIOT’s stock grew somewhat faster than CLSK’s over the last 12 months.
RIOT's P/E Growth Rating (98) in the Financial Conglomerates industry is in the same range as CLSK (98) in the null industry. This means that RIOT’s stock grew similarly to CLSK’s over the last 12 months.
| CLSK | RIOT | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 89% | 2 days ago 81% |
| Stochastic ODDS (%) | 2 days ago 88% | 2 days ago 86% |
| Momentum ODDS (%) | N/A | 2 days ago 89% |
| MACD ODDS (%) | 2 days ago 85% | 2 days ago 90% |
| TrendWeek ODDS (%) | 2 days ago 86% | 2 days ago 87% |
| TrendMonth ODDS (%) | 2 days ago 89% | 2 days ago 87% |
| Advances ODDS (%) | 5 days ago 87% | 3 days ago 89% |
| Declines ODDS (%) | 9 days ago 89% | 12 days ago 87% |
| BollingerBands ODDS (%) | 2 days ago 90% | 2 days ago 89% |
| Aroon ODDS (%) | 2 days ago 90% | 2 days ago 89% |
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 RIOT’s FA Score has 0 green FA rating(s).
- CLSK’s FA Score: 0 green, 5 red.
- RIOT’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 RIOT’s TA Score has 4 bullish TA indicator(s).
- CLSK’s TA Score: 5 bullish, 4 bearish.
- RIOT’s TA Score: 4 bullish, 6 bearish.
Price Growth
CLSK (@Investment Banks/Brokers) experienced а +20.42% price change this week, while RIOT (@Investment Banks/Brokers) price change was +20.80% for the same time period.
The average weekly price growth across all stocks in the @Investment Banks/Brokers industry was -2.49%. For the same industry, the average monthly price growth was -17.00%, and the average quarterly price growth was -25.85%.
Reported Earning Dates
CLSK is expected to report earnings on Nov 24, 2026.
RIOT is expected to report earnings on Mar 03, 2027.
Industries' Descriptions
@Investment Banks/Brokers (-2.49% 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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