CleanSpark vs Phoenix Group

How CleanSpark vs Phoenix Group compare on our ratings, mining company specs, funding, pros and cons.

Feature	CleanSpark Visit	Phoenix Group Visit
Ratings
Our score	4.2/5	4.0/5
User rating	No reviews yet	No reviews yet
Track record	4.5	4.5
Costs & fees	4.0	3.5
Transparency	4.5	4.5
Scale & reliability	5.0	4.5
Support	3.0	3.0
Specs
Type	Public miner	Public miner, Hosting
Coins	BTC	BTC
Hashrate	50 EH/s	15.9 EH/s
Stock ticker	CLSK	ADX: PHX
Locations	Georgia, Mississippi, Tennessee, Wyoming	United Arab Emirates, Ethiopia, United States, Oman, Canada, France
Energy sources	Not disclosed	Hydroelectric
Company
Founded	2014	2017
Headquarters	United States	United Arab Emirates
Investors	Not disclosed	Not disclosed
Strengths and weaknesses
Pros	Operates 50 EH/s of dedicated mining hashrate Fleet operates at an efficient peak of 16.07 J/TH Holds 1.8 GW of power under contract across four states Maintains 13,530 BTC in corporate treasury reserves	Operates over 550 MW across six sovereign-aligned global markets Reported an efficient mining fleet performance of 18.81 J/TH in Q2 2026 Generated 15.9 EH/s in Q4 2025, representing 1.5% of global Bitcoin hashrate Regulated as a publicly traded company on the Abu Dhabi Securities Exchange
Cons	Offers no retail hosting services, pool mining, or cloud mining contracts Operations remain concentrated in the United States Revenues remain exposed to Bitcoin network difficulty and halving cycles Carries $2.28B in senior secured debt maturing in 2031	Revenue remains vulnerable to Bitcoin block reward halvings and difficulty increases Energy prices and supply stability depend on six distinct regulatory regimes No retail hosting or individual consumer mining plans
Best for	Public equity investors seeking Bitcoin mining exposure, Institutional research on industrial Bitcoin data centers, Enterprise clients seeking HPC data center infrastructure	Institutional investors seeking ADX-listed equity, Enterprises needing AI and HPC colocation, Institutions tracking diversified Bitcoin hashrate

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