Is CleanSpark Stock Halal?

Is CleanSpark Stock Halal?

How much of CleanSpark’s revenue comes from haram?

CleanSpark provides microgrid design, engineering, and consulting solutions, renewable energy generation and management software, and technology solutions that help solve modern energy challenges.

In addition, CleanSpark acquired ATL Data Centers in December 2020 inorder to start Bitcoin mining. 

Practical Islamic Finance concludes:

None of CleanSpark’s revenue comes from anything inherently haram.

Does CleanSpark rely on interest to operate?

Year to Date
for the period ending
March 31, 2021
Fiscal year ended
September 30, 2020
Fiscal year ended
September 30, 2019
Interest Income (net)$72,742
Total Revenue$10,377,258$10,028,701$4,532,782
Interest Expense (net)$3,987$10,449,946$9,483,662
Total Expenses$19,044,328$25,171,817$21,146,627
Interest Income (net) / Revenue0.70%
Interest Expense (net) / Total Expense0.02%41.51%44.85%

Practical Islamic Finance concludes:

Riba, while used extensively in the past, is currently not relied upon in CleanSpark’s operations.

What is CleanSpark’s Environmental, Social, and Governance (ESG) impact?


CleanSpark utilizes renewable energy sources in its Bitcoin mining operations.

In addition, CleanSpark intends to incorporate its microgrid technologies and software into other digital currency mining operations to reduce their energy costs. 

CleanSpark recently announced a partnership with Coinmint, the largest digital currency data center in the world, to support the company in achieving its goal of 100% carbon-free operations.


CleanSpark has a slightly above average Glassdoor rating of 3.6 out of 5.0 from current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.


No notable governance highlights.

Practical Islamic Finance concludes:

CleanSpark has a net positive ESG impact.

Comfort Rating

From CleanSpark’s business, financial, and ESG reviews, Practical Islamic Finance rates CleanSpark stock as:

Comfortable to invest in from a Halal perspective.


CleanSpark 2020 10-K

CleanSpark Q1 2021 10-Q

CleanSpark Q2 2021 10-Q   

Bitcoin Mining Energy Efficient Microgrids  

Working at CleanSpark 

CleanSpark Announces Agreement with ESG-Focused Crypto-Miner, Coinmint 

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