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CLSK vs SHOP
Which Stock Would AI Choose? CleanSpark (CLSK) vs. Shopify (SHOP) Stock Comparison
Key Takeaways
- CleanSpark is a Bitcoin miner pivoting toward AI/HPC (high-performance computing) data centers, making it highly sensitive to cryptocurrency prices and capital execution.
- Shopify is a scaled e-commerce software and payments platform posting roughly 30%+ revenue growth, but it carries a premium valuation.
- CLSK shows higher volatility (beta near 3.8) and reported widening net losses, while SHOP is more established and cash-generative despite valuation risk.
- Recent momentum has favored SHOP on growth consistency, while CLSK offers higher upside potential tied to its data-center transition.
- Risk profiles differ sharply: CLSK faces balance-sheet and commodity-price risk; SHOP faces competition and multiple-compression risk.
Introduction
This stock comparison examines two very different growth stories: CleanSpark, a Bitcoin-mining company expanding into AI data-center infrastructure, and Shopify, a global commerce platform. Although both trade on the Nasdaq and carry meaningful exposure to the artificial-intelligence theme, their business models, financial profiles, and risk characteristics diverge considerably. Traders seeking high-beta, commodity-linked momentum may find CLSK compelling, while investors prioritizing recurring revenue and demonstrated profitability may focus on SHOP. Understanding their relative performance and market positioning helps clarify which profile aligns with a given strategy in the current environment.
CLSK Overview and Recent Performance
CleanSpark, Inc. (CLSK) is a Nevada-based Bitcoin-mining operator that owns and operates data centers and power assets. In recent quarters, the company has accelerated a strategic transition, describing a model in which Bitcoin mining "funds the platform" while AI/HPC data-center leasing "monetizes it." Recent market activity has been volatile: the shares trade near the lower end of their 52-week range, and the company reported fiscal second-quarter revenue of roughly $136 million, down about 25% year over year, alongside a widened net loss driven in part by Bitcoin mark-to-market and impairment charges.
Sentiment has been shaped by several catalysts. CleanSpark closed a $2.276 billion senior secured notes offering and announced a 20-year triple-net lease tied to about $6.6 billion in contracted revenue at its Sandersville, Georgia campus. The company holds more than 1.8 gigawatts of contracted power capacity and an operational hashrate around 50 EH/s (exahashes per second, a measure of mining computing power). While analysts maintain a generally constructive view, execution risk around heavy capital spending and a tighter liquidity profile remains a central concern for investors.
SHOP Overview and Recent Performance
Shopify Inc. (SHOP) is a Canadian commerce-technology company providing software, payments, and merchant services to businesses of all sizes. Its recent performance reflects a robust underlying business: first-quarter revenue rose about 34% year over year to roughly $3.2 billion, while gross merchandise volume (GMV, the total value of orders processed on the platform) climbed about 35% to over $100 billion. Operating income nearly doubled year over year, and Shopify Payments processed about $67 billion in volume.
Despite these results, sentiment has been mixed. The stock pulled back sharply earlier in the year on softer second-quarter guidance signaling a deceleration toward high-twenties revenue growth, though it has subsequently recovered ground and rallied meaningfully in recent weeks. Shopify is leaning into AI-powered commerce, with AI-driven store traffic and its Sidekick assistant posting strong growth, and it has secured enterprise wins including major global brands. The primary debate for investors is valuation: the stock still trades at a high forward price-to-earnings multiple, leaving limited room for missteps even as growth remains elevated.
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Head-to-Head Comparison
The two companies occupy opposite ends of the risk-return spectrum. CLSK is a capital-intensive, asset-heavy business whose revenue and earnings are tied to Bitcoin prices and network difficulty, making its stock a high-beta instrument (beta near 3.8) prone to sharp swings. Its growth narrative now depends heavily on converting contracted power capacity into leased AI data-center revenue, a process that is capital-intensive and not yet fully derisked. SHOP, by contrast, operates a software-plus-payments model with strong free cash flow, diversified merchant revenue, and a beta near 2.6, but it faces intense competition and a valuation that prices in years of continued high growth.
Growth drivers also differ. CleanSpark's catalysts are largely commodity-linked and execution-dependent, while Shopify's are tied to merchant adoption, payments attach rates, and AI-driven commerce. On risk factors, CLSK carries balance-sheet and liquidity concerns amid heavy debt issuance, whereas SHOP's risks center on margin mix, transaction losses, and potential multiple compression. Sector exposure differs accordingly: CLSK sits at the intersection of cryptocurrency and digital infrastructure, while SHOP is anchored in consumer and enterprise e-commerce.
Tickeron AI Verdict
Based on observable factors, Tickeron's AI would likely favor SHOP for its more consistent trend profile, recurring revenue, and positive cash flow, while acknowledging that CLSK offers a higher-ceiling, higher-volatility opportunity tied to its AI data-center pivot. The probabilistic read favors Shopify on stability and relative positioning in the current environment, though CleanSpark's upside depends on successful execution of its infrastructure transition. The appropriate choice depends on an investor's tolerance for volatility and timeframe.
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 SHOP is a StrongBuy.
CLSK in upward trend: price may ascend as a result of having broken its lower Bollinger Band on October 08, 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 28 of 30 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 shows that the ticker has stayed in the oversold zone for 11 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 17 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 01, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on CLSK as a result. In 70 of 83 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 84%.
The Moving Average Convergence Divergence Histogram (MACD) for CLSK turned negative on September 29, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 41 similar instances when the indicator turned negative. In 37 of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at 90%.
CLSK moved below its 50-day moving average on September 30, 2026 date and that indicates a change from an upward trend to a downward trend.
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 October 23, 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 47 (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 (2.658) is normal, around the industry mean (3.503). P/E Ratio (-2.085) is within average values for comparable stocks, (8.788). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.809). Dividend Yield (0.000) settles around the average of (7.664) among similar stocks. P/S Ratio (5.397) is also within normal values, averaging (16.763).
The Tickeron Price Growth Rating for this company is 91 (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 97 (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.
SHOP in upward trend: price rose above 50-day moving average on September 21, 2026
SHOP moved above its 50-day moving average on September 21, 2026 date and that indicates a change from a downward trend to an upward trend. In 37 of 42 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 88%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The 10-day moving average for SHOP crossed bullishly above the 50-day moving average on September 29, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 11 of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 85%.
Following a +1.89% 3-day Advance, the price is estimated to grow further. Considering data from situations where SHOP advanced for three days, in 253 of 311 cases, the price rose further within the following month. The odds of a continued upward trend are 81%.
The Aroon Indicator entered an Uptrend today. In 162 of 210 cases where SHOP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 77%.
Bearish Trend Analysis
The 10-day RSI Indicator for SHOP moved out of overbought territory on October 16, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 42 similar instances where the indicator moved out of overbought territory. In 33 of the 42 cases, the stock moved lower in the following days. This puts the odds of a move lower at 79%.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 49 of 63 cases where SHOP's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 78%.
The Momentum Indicator moved below the 0 level on October 23, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on SHOP as a result. In 71 of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 79%.
The Moving Average Convergence Divergence Histogram (MACD) for SHOP turned negative on October 22, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 52 similar instances when the indicator turned negative. In 39 of the 52 cases the stock turned lower in the days that followed. This puts the odds of success at 75%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SHOP 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 74%.
SHOP broke above its upper Bollinger Band on October 12, 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.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 20 (best 1 - 100 worst), pointing to outstanding 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 Price Growth Rating for this company is 37 (best 1 - 100 worst), indicating steady price growth. SHOP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 55 (best 1 - 100 worst), indicating strong sales and a profitable 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 Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued 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 Profit vs. Risk Rating rating for this company is 88 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SHOP’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 94, placing this stock better than average.
The Tickeron Valuation Rating of 93 (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 (17.111) is normal, around the industry mean (-1.853). P/E Ratio (113.208) is within average values for comparable stocks, (15.200). Projected Growth (PEG Ratio) (1.734) is also within normal values, averaging (2.824). Dividend Yield (0.000) settles around the average of (0.075) among similar stocks. P/S Ratio (12.755) is also within normal values, averaging (71.128).
CLSK | SHOP | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 50 | 50 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 65 Fair valued | 93 Overvalued | |
PROFIT vs RISK RATING 1..100 | 100 | 88 | |
SMR RATING 1..100 | 98 | 55 | |
PRICE GROWTH RATING 1..100 | 91 | 37 | |
P/E GROWTH RATING 1..100 | 97 | 20 | |
SEASONALITY SCORE 1..100 | 47 | 85 |
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 SHOP (93) in the Information Technology Services industry. This means that CLSK’s stock grew similarly to SHOP’s over the last 12 months.
SHOP's Profit vs Risk Rating (88) in the Information Technology Services industry is in the same range as CLSK (100) in the null industry. This means that SHOP’s stock grew similarly to CLSK’s over the last 12 months.
SHOP's SMR Rating (55) in the Information Technology Services industry is somewhat better than the same rating for CLSK (98) in the null industry. This means that SHOP’s stock grew somewhat faster than CLSK’s over the last 12 months.
SHOP's Price Growth Rating (37) in the Information Technology Services industry is somewhat better than the same rating for CLSK (91) in the null industry. This means that SHOP’s stock grew somewhat faster than CLSK’s over the last 12 months.
SHOP's P/E Growth Rating (20) in the Information Technology Services industry is significantly better than the same rating for CLSK (97) in the null industry. This means that SHOP’s stock grew significantly faster than CLSK’s over the last 12 months.
| CLSK | SHOP | |
|---|---|---|
| RSI ODDS (%) | 4 days ago 87% | 4 days ago 79% |
| Stochastic ODDS (%) | 4 days ago 86% | 4 days ago 78% |
| Momentum ODDS (%) | 4 days ago 84% | 4 days ago 79% |
| MACD ODDS (%) | 4 days ago 90% | 4 days ago 75% |
| TrendWeek ODDS (%) | 4 days ago 89% | 4 days ago 75% |
| TrendMonth ODDS (%) | 4 days ago 89% | 4 days ago 81% |
| Advances ODDS (%) | N/A | 6 days ago 81% |
| Declines ODDS (%) | 4 days ago 89% | 4 days ago 74% |
| BollingerBands ODDS (%) | 4 days ago 90% | 4 days ago 78% |
| Aroon ODDS (%) | 4 days ago 90% | 4 days ago 77% |
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 SHOP’s FA Score has 1 green FA rating(s).
- CLSK’s FA Score: 0 green, 5 red.
- SHOP’s FA Score: 1 green, 4 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 3 TA indicator(s) are bullish while SHOP’s TA Score has 4 bullish TA indicator(s).
- CLSK’s TA Score: 3 bullish, 7 bearish.
- SHOP’s TA Score: 4 bullish, 6 bearish.
Price Growth
CLSK (@Investment Banks/Brokers) experienced а -6.19% price change this week, while SHOP (@Packaged Software) price change was -0.50% for the same time period.
The average weekly price growth across all stocks in the @Investment Banks/Brokers industry was -2.98%. For the same industry, the average monthly price growth was -17.91%, and the average quarterly price growth was -14.98%.
The average weekly price growth across all stocks in the @Packaged Software industry was +2.55%. For the same industry, the average monthly price growth was -2.40%, and the average quarterly price growth was +5.00%.
Reported Earning Dates
CLSK is expected to report earnings on Nov 24, 2026.
SHOP is expected to report earnings on Nov 03, 2026.
Industries' Descriptions
@Investment Banks/Brokers (-2.98% 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.
@Packaged Software (+2.55% weekly)Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
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SHOP and
Correlation & Price change
A.I.dvisor indicates that over the last year, SHOP has been closely correlated with COIN. These tickers have moved in lockstep 67% of the time. This A.I.-generated data suggests there is a high statistical probability that if SHOP jumps, then COIN could also see price increases.
| Ticker / NAME | Correlation To SHOP | 1D Price Change % | ||
|---|---|---|---|---|
| SHOP | 100% | -0.08% | ||
| COIN - SHOP | 67% Closely correlated | -2.74% | ||
| CLSK - SHOP | 64% Loosely correlated | -3.31% | ||
| RIOT - SHOP | 62% Loosely correlated | -2.79% | ||
| FTNT - SHOP | 62% Loosely correlated | +4.05% | ||
| PAYO - SHOP | 58% Loosely correlated | -0.28% | ||
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