Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. We may receive financial compensation from these third parties. Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. In terms of fleet efficiency, CleanSpark is ahead of everyone else in the industry following today’s deal with Bitmain, the analyst concluded. Today’s announcement should give investors more visibility and conviction into CLSK. It’s trading at 46% discount to peers on market cap to deployed hash rate, which we view as unwarranted. Still, Colonnese is convinced that it’s significantly undervalued.
Consensus is for it to lose 37 cents a share this quarter versus 5 cents of EPS a year ago.įor the year, CleanSpark stock is up more than 50% at writing. CleanSpark stock is significantly undervaluedĬleanSpark is expected to report its Q2 financial results next month. With this purchase, the analyst added, CleanSpark will be able to improve its hash rate to 16 EH/s in line with the company’s year-end target. The bullish call on Clean Spark stock arrives only hours after it revealed to have bought 45,000 new Antminer S19 XPs from Bitmain for about $145 million.ĬLSK secured machines for a very attractive $23/TH, the lowest we’ve seen for these rigs, and 12% below the going rate for high efficiency ASICs based on Luxor’s Bitcoin ASIC Price Index. On Tuesday, Mike Colonnese reiterated his “buy” rating on the crypto company and said its shares could climb to $12 – about a 300% upside from here.
CleanSpark stock could quadruple from here Wainwright analyst named the bitcoin miner his top pick for 2023. Shares of CleanSpark Inc (NASDAQ: CLSK) are up nearly 15% this morning after an H.C. CleanSpark stock is already up more than 50% for the year.Analyst Mike Colonnese explained why in a research note today.Wainwright reiterates CleanSpark Inc its top pick for 2023.
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