Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 120

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 120
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 the Notes are convertible at any time until two trading days preceding maturity. The Company may not redeem the Notes before February 20, 2029, and may redeem them thereafter subject to conditions set forth in the Indenture.Line of credit paydownDuring November 2025 the Company repaid in full all outstanding balances under its revolving lines of credit, including the Coinbase and Two Prime credit facilities described in Note 13 - Indebtedness. Following such repayments, the Company maintained aggregate borrowing capacity of approximately $400 million under its committed lines of credit, all of which remained undrawn as of the report date of November 25, 2025.

F-65

CLEANSPARK, INC.Schedule II - Valuation and Qualifying Accounts (in thousands) 

     Balance at Beginning of Period

     Additions Charged to Costs and Expenses

     Additions from Business Combination

     Deductions

     Balance at End of Period

     Year ended September 30, 2025

     Deferred tax valuation allowance
      
     $
     54,926

     $
     —

     $
     1,677

     $
     53,214

     $
     3,389

     Year ended September 30, 2024

     Deferred tax valuation allowance
      
     $
     44,627

     $
     10,299

     $
     —

     $
     —

     $
     54,926

     Year ended September 30, 2023

     Deferred tax valuation allowance
      
     $
     28,756

     $
     15,871

     $
     —

     $
     —

     $
     44,627

62

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial DisclosureNone.Item 9A. Controls and ProceduresEVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) as of September 30, 2025.  Disclosure controls and procedures are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized, and reported within the time