SCHEDULE: Bank of Nova Scotia Reports 3.9% Stake in CleanSpark

Bank of Nova Scotia has filed a Schedule 13G, reporting beneficial ownership of 10,331,158 shares, representing 3.9% of CleanSpark, Inc.'s common stock as of September 30, 2026.

Summary

• Bank of Nova Scotia has filed an amendment to its Schedule 13G filing.
• The filing indicates that Bank of Nova Scotia beneficially owns 10,331,158 shares of CleanSpark, Inc. common stock.
• This ownership represents 3.9% of the total class of securities.
• The date of the event requiring this filing was September 30, 2026.
• Bank of Nova Scotia is a Canadian federal institution.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a routine Schedule 13G filing indicating a change in beneficial ownership without disclosing specific strategic reasons or significant shifts in investment thesis.

Positives

• Indicates institutional interest in CleanSpark, Inc. from a major financial institution.
• The filing is a routine disclosure, suggesting no immediate negative events.

Negatives

• The filing does not provide details on the strategy or rationale behind the ownership stake.
• The 3.9% stake, while significant, does not represent a controlling interest.

Risks

• As a Schedule 13G filing, it indicates passive investment, but future changes in beneficial ownership could occur.
• Market volatility for CleanSpark, Inc. could impact the value of Bank of Nova Scotia's investment.

Future Outlook

This filing is a disclosure of current ownership and does not contain forward-looking statements or guidance regarding CleanSpark, Inc.'s future performance.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Bank of Nova Scotia is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s)."
• "I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D."
• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."

Industry Context

StockSavvy.ai notes that institutional filings like this Schedule 13G are common for publicly traded companies. The acquisition of a 3.9% stake by a large financial institution like Bank of Nova Scotia can signal confidence in the company's sector, in this case, potentially related to energy or technology given CleanSpark's business, but does not necessarily imply a strategic partnership or active management involvement.

Comparison to Industry Standards

• Schedule 13G filings are standard disclosures for institutional investors exceeding a 5% beneficial ownership threshold (or acquiring 5% or more).
• The 3.9% stake reported by Bank of Nova Scotia is below the typical threshold that triggers more detailed Schedule 13D filings, indicating a passive investment approach at this time.
• Competitors in the energy or technology sectors may also attract similar institutional investment, but specific comparable companies and stake sizes would require a broader market analysis beyond this single filing.

Stakeholder Impact

• Shareholders: The filing may be interpreted as a positive signal of institutional interest, potentially supporting share price, but the passive nature of the investment limits direct impact.
• Creditors: No direct impact is indicated.
• Employees: No direct impact is indicated.
• Suppliers: No direct impact is indicated.
• Customers: No direct impact is indicated.

Next Steps

• Bank of Nova Scotia will continue to monitor its investment in CleanSpark, Inc.
• Further filings may be required if beneficial ownership changes significantly.

Key Dates

Keywords

CleanSpark, Bank of Nova Scotia, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing