CLSK vs. BITO

Last updated Apr 2, 2026

Compare and contrast key facts about CleanSpark, Inc. (CLSK) and ProShares Bitcoin Strategy ETF (BITO).

BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.

Performance

CLSK vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CleanSpark, Inc. (CLSK) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

CLSK vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CLSK CleanSpark, Inc.	-14.82%	9.88%	-16.50%	440.69%	-78.57%	-42.99%
BITO ProShares Bitcoin Strategy ETF	-22.79%	-11.19%	104.45%	137.33%	-63.91%	-31.09%

Returns By Period

In the year-to-date period, CLSK achieves a -14.82% return, which is significantly higher than BITO's -22.79% return.

CLSK

• 1D: 1.29%
• 1M: -18.29%
• YTD: -14.82%
• 6M: -40.92%
• 1Y: 14.02%
• 3Y*: 45.82%
• 5Y*: -17.81%
• 10Y*: -11.72%

BITO

• 1D: 0.60%
• 1M: -1.72%
• YTD: -22.79%
• 6M: -43.10%
• 1Y: -23.27%
• 3Y*: 24.87%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CLSK vs. BITO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLSK

CLSK Risk / Return Rank: 50
CLSK Sharpe Ratio Rank: 47
CLSK Sortino Ratio Rank: 52
CLSK Omega Ratio Rank: 49
CLSK Calmar Ratio Rank: 52
CLSK Martin Ratio Rank: 50

BITO

BITO Risk / Return Rank: 5
BITO Sharpe Ratio Rank: 4
BITO Sortino Ratio Rank: 4
BITO Omega Ratio Rank: 5
BITO Calmar Ratio Rank: 5
BITO Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLSK vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CleanSpark, Inc. (CLSK) and ProShares Bitcoin Strategy ETF (BITO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CLSK	BITO	Difference
Sharpe ratio Return per unit of total volatility	0.16	-0.52	+0.67
Sortino ratio Return per unit of downside risk	0.92	-0.50	+1.41
Omega ratio Gain probability vs. loss probability	1.10	0.94	+0.16
Calmar ratio Return relative to maximum drawdown	0.44	-0.42	+0.86
Martin ratio Return relative to average drawdown	0.83	-0.89	+1.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLSK vs. BITO - Sharpe Ratio Comparison

The current CLSK Sharpe Ratio is 0.16, which is higher than the BITO Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of CLSK and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CLSK	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	-0.52	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.06	-0.08	+0.01

Correlation

The correlation between CLSK and BITO is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CLSK vs. BITO - Dividend Comparison

CLSK has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 80.47%.

	TTM	2025	2024	2023
CLSK CleanSpark, Inc.	0.00%	0.00%	0.00%	0.00%
BITO ProShares Bitcoin Strategy ETF	80.47%	78.29%	61.59%	15.14%

Drawdowns

CLSK vs. BITO - Drawdown Comparison

The maximum CLSK drawdown since its inception was -98.56%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for CLSK and BITO.

Drawdown Indicators

	CLSK	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-98.56%	-77.86%	-20.70%
Max Drawdown (1Y) Largest decline over 1 year	-64.74%	-50.05%	-14.69%
Max Drawdown (5Y) Largest decline over 5 years	-92.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.56%	—	—
Current Drawdown Current decline from peak	-88.19%	-46.75%	-41.44%
Average Drawdown Average peak-to-trough decline	-69.28%	-36.57%	-32.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.21%	23.73%	+10.48%

Volatility

CLSK vs. BITO - Volatility Comparison

CleanSpark, Inc. (CLSK) has a higher volatility of 21.41% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.84%. This indicates that CLSK's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLSK	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.41%	12.84%	+8.57%
Volatility (6M) Calculated over the trailing 6-month period	70.96%	36.71%	+34.25%
Volatility (1Y) Calculated over the trailing 1-year period	91.38%	45.32%	+46.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	101.40%	55.77%	+45.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.27%	55.77%	+128.50%