CLSK vs. BTDR

Last updated Jun 9, 2026

CLSK (CleanSpark, Inc.) and BTDR (Bitdeer Technologies Group Class A Ordinary Shares) are both stocks. CLSK operates in Capital Markets (Financial Services), while BTDR operates in Software - Application (Technology). Over the past 3 years, CLSK returned 63.21%/yr vs 54.13%/yr for BTDR. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

CLSK vs. BTDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CleanSpark, Inc. (CLSK) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CLSK having a 63.24% return and BTDR slightly higher at 64.94%.

CLSK

• 1D: 5.97%
• 1M: 16.34%
• YTD: 63.24%
• 6M: 18.93%
• 1Y: 68.74%
• 3Y*: 63.21%
• 5Y*: -2.64%
• 10Y*: -6.10%

BTDR

• 1D: 5.84%
• 1M: 37.27%
• YTD: 64.94%
• 6M: 54.08%
• 1Y: 32.17%
• 3Y*: 54.13%
• 5Y*: —
• 10Y*: —

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

CLSK vs. BTDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLSK CleanSpark, Inc.	63.24%	9.88%	-16.50%	179.95%
BTDR Bitdeer Technologies Group Class A Ordinary Shares	64.94%	-48.27%	119.78%	-1.40%

Correlation

The correlation between CLSK and BTDR is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.56

The correlation between CLSK and BTDR shifts across timeframes, from 0.56 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

EPS CLSK : -$2.24 BTDR : -$2.23
PS Ratio CLSK : 4.99 BTDR : 5.65
Total Revenue (TTM) CLSK : $739.88M BTDR : $739.06M
Gross Profit (TTM) CLSK : $306.93M BTDR : $25.18M
EBITDA (TTM) CLSK : -$103.41M BTDR : $59.65M

Return for Risk

CLSK vs. BTDR — Risk / Return Rank

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

CLSK

CLSK Risk / Return Rank: 65
CLSK Sharpe Ratio Rank: 68
CLSK Sortino Ratio Rank: 69
CLSK Omega Ratio Rank: 65
CLSK Calmar Ratio Rank: 64
CLSK Martin Ratio Rank: 60

BTDR

BTDR Risk / Return Rank: 55
BTDR Sharpe Ratio Rank: 54
BTDR Sortino Ratio Rank: 60
BTDR Omega Ratio Rank: 57
BTDR Calmar Ratio Rank: 53
BTDR Martin Ratio Rank: 51

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. BTDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CleanSpark, Inc. (CLSK) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). 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	BTDR	Difference
Sharpe ratio: Return per unit of total volatility	0.78	0.32	+0.46
Sortino ratio: Return per unit of downside risk	1.61	1.18	+0.42
Omega ratio: Gain probability vs. loss probability	1.18	1.14	+0.05
Calmar ratio: Return relative to maximum drawdown	1.07	0.45	+0.62
Martin ratio: Return relative to average drawdown	1.78	0.75	+1.02
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. BTDR - Sharpe Ratio Comparison

The current CLSK Sharpe Ratio is 0.78, which is higher than the BTDR Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of CLSK and BTDR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLSK	BTDR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	0.32	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.18	-0.21

Drawdowns

CLSK vs. BTDR - Drawdown Comparison

The maximum CLSK drawdown since its inception was -98.56%, which is greater than BTDR's maximum drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for CLSK and BTDR.

Drawdown Indicators

	CLSK	BTDR	Difference
Max Drawdown Largest peak-to-trough decline	-98.56%	-79.52%	-19.04%
Max Drawdown (1Y) Largest decline over 1 year	-64.74%	-71.89%	+7.15%
Max Drawdown (3Y) Largest decline over 3 years	-71.28%	-79.52%	+8.24%
Max Drawdown (5Y) Largest decline over 5 years	-92.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.56%	—	—
Current Drawdown Current decline from peak	-77.37%	-29.16%	-48.21%
Average Drawdown Average peak-to-trough decline	-69.50%	-43.72%	-25.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.77%	42.76%	-3.99%

Volatility

CLSK vs. BTDR - Volatility Comparison

The current volatility for CleanSpark, Inc. (CLSK) is 21.72%, while Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a volatility of 31.03%. This indicates that CLSK experiences smaller price fluctuations and is considered to be less risky than BTDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLSK	BTDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.72%	31.03%	-9.31%
Volatility (6M) Calculated over the trailing 6-month period	62.80%	68.71%	-5.91%
Volatility (1Y) Calculated over the trailing 1-year period	88.35%	100.30%	-11.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.80%	122.86%	-22.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	183.29%	122.86%	+60.43%

Dividends

CLSK vs. BTDR - Dividend Comparison

Neither CLSK nor BTDR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both CLSK and BTDR in my portfolio?

CLSK and BTDR have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLSK or BTDR?

BTDR has higher volatility (31.03%) compared to CLSK (21.72%). In terms of maximum drawdown, CLSK dropped -98.56% vs BTDR's -79.52%.

Which has better risk-adjusted returns?

CLSK currently has the higher Sharpe Ratio (0.78 vs 0.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.