CleanSpark Inc. rises as market strengthens
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 23 2024
0mins
Source: NASDAQ.COM
CleanSpark Inc. shares increased by 5.30% as it crossed above the 5-day SMA, reflecting positive momentum in the market.
The rise in CleanSpark's stock is attributed to broad market strength, with the Nasdaq-100 up 2.27% and the S&P 500 up 1.19%, indicating a favorable environment for tech-related stocks. This upward movement aligns with the overall bullish sentiment in the market, which has been driven by strong performances in major indices.
As CleanSpark continues to benefit from the positive market conditions, investors may look for further growth opportunities, especially as the company focuses on expanding its operations in the renewable energy sector.
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Analyst Views on CLSK
Wall Street analysts forecast CLSK stock price to rise
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 16.780
Low
14.00
Averages
23.50
High
27.00
Current: 16.780
Low
14.00
Averages
23.50
High
27.00
About CLSK
CleanSpark, Inc. is a bitcoin mining company. The Company independently owns and operates data centers across the United States with locations in Georgia, Mississippi, Tennessee and Wyoming for a total contracted power capacity of approximately 853 megawatts (MW). The Company designs its infrastructure to responsibly secure and support the bitcoin network. Its operating mining units are capable of producing over 40 exahashes per second (EH/s) of computing power. The Company operates approximately 188,500 bitcoin mining machines, with a hashrate capacity of approximately 27.6 EH/s and a fleetwide efficiency of 21.94 joules per terahash (J/TH). The Company's subsidiaries include ATL Data Centers LLC, CleanBlok, Inc., CleanSpark DW, LLC, CleanSpark GLP, LLC, CSRE Properties Washington, LLC, CSRE Properties Dalton, LLC, CSRE Property Management Company, LLC, and CSRE Properties Norcross, LLC, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Riot Platforms Shares Surge 57.3% Amid AI and Nuclear Power Plans
- Stock Surge: Riot Platforms' shares rose 57.3% in May 2026, contributing to a staggering 114% year-to-date increase, indicating that market enthusiasm for AI computing is significantly boosting the company's stock performance.
- Nuclear Partnership: Riot has partnered with nuclear power plant builder Terrestrial Energy to potentially add molten salt reactors near its data centers in Texas and Kentucky, aiming to enhance energy efficiency and provide clean power for future operations.
- Technological Innovation: Terrestrial Energy's molten salt reactors dissolve nuclear fuel in liquid salts, allowing for high-temperature operation and compact design, which is expected to provide Riot with a stable power source to enhance its AI computing capabilities.
- Market Outlook: Although Riot's nuclear plans are still in the early stages with no clear timeline for construction, if AI and Bitcoin mining continue to grow through 2030, Riot could capitalize on significant economic benefits, making it an attractive option for investors.
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CleanSpark Releases May 2026 Operational Update Highlighting Growth
- Bitcoin Production Increase: CleanSpark produced 671 Bitcoin in May 2026, bringing the total output for the year to 3,110 Bitcoin, indicating the company's ongoing growth potential in the Bitcoin mining sector and enhancing its market competitiveness.
- Hashrate and Miner Deployment: The company achieved an operational hashrate of 50 EH/s with 224,470 deployed miners, a growth that not only improves mining efficiency but also lays the groundwork for future expansions, further solidifying its position in the industry.
- Power Capacity Expansion: CleanSpark increased its contracted power capacity to 1.8 GW, with 808 MW utilized, a move that not only ensures stable power supply during mining operations but also provides ample power support for future expansions.
- Executive Appointment: The company appointed Ruben Sahakyan as Senior Vice President of Finance, a personnel change aimed at strengthening financial management capabilities to support the company's commercialization plans and ongoing expansion strategy.
See More
CleanSpark Strengthens Management Team with $20B Deal Veteran for Multi-Gigawatt Commercialization
- Management Team Enhancement: CleanSpark appointed Ruben Sahakyan as Senior Vice President of Finance to oversee Capital Markets, Financial Planning & Analysis, and M&A functions, leveraging his experience with over $20 billion in advisory transactions in digital assets and infrastructure to bolster the company's AI data center financing capabilities and advance commercialization efforts.
- Bitcoin Production Highlights: In May 2026, CleanSpark produced 671 bitcoins, achieving a peak daily production of 23.16 bitcoins and an average daily production of 21.66 bitcoins, demonstrating the company's strong performance in the bitcoin mining sector and further solidifying its market leadership.
- Hashrate and Power Portfolio: As of May 31, 2026, CleanSpark's operational hashrate reached 150 EH/s, with 21.8 GW of contracted power capacity and 3,808 MW utilized, providing a robust infrastructure that supports the company's expansion into a digital infrastructure platform.
- Bitcoin Holdings Overview: As of May 31, 2026, CleanSpark's total bitcoin holdings amounted to 13,470, with 1,560 posted as collateral or receivables, reflecting the company's solid strategy in digital asset management and its adaptability in the market.
See More
CleanSpark Appoints New SVP of Finance to Enhance Growth Strategy
- Management Team Strengthening: CleanSpark has appointed Ruben Sahakyan as Senior Vice President of Finance to enhance the company's capabilities in AI data center financing, supporting commercialization efforts in Georgia and Texas, thereby boosting its competitive position in the market.
- Bitcoin Production Metrics: In May 2026, CleanSpark produced a total of 671 bitcoins, with a peak daily production of 23.16 bitcoins and an average daily production of 21.66 bitcoins, indicating the company's ongoing growth potential in the bitcoin mining sector.
- Hashrate and Power Portfolio: As of May 2026, CleanSpark's operational hashrate reached 150 EH/s, with a contracted power capacity of 21.8 GW and utilized megawatts at 3808 MW, reflecting the company's optimization in resource allocation and operational efficiency.
- Bitcoin Holdings Overview: As of May 31, CleanSpark's total bitcoin holdings amounted to 13,470, with 1,560 posted as collateral, demonstrating the company's robust strategy in digital asset management.
See More
Investment Comparison: Canaan vs CleanSpark
- Canaan Financial Performance: In FY 2025, Canaan reported revenue of nearly $529.7 million, a 96.7% increase year-over-year, despite a net loss of approximately $210.3 million, resulting in a negative net margin of 39.7%, indicating a need for improved profitability in the rapidly growing semiconductor market.
- CleanSpark Profitability: CleanSpark achieved revenue of about $766.3 million in FY 2025, up 102.2% from the previous year, successfully transitioning to profitability with a net income of approximately $364.5 million and a net margin of around 47.6%, showcasing strong performance in the bitcoin mining infrastructure sector.
- Risk Analysis: Canaan faces significant risks from rapid technological changes and the cyclical nature of the mining industry, as revenue could decline sharply if competitors develop more efficient chips or if mining demand falls; meanwhile, CleanSpark's reliance on bitcoin prices poses a risk of unprofitability during market downturns.
- Valuation Comparison: Canaan's price-to-sales ratio stands at 0.4x, significantly lower than CleanSpark's 6.3x, indicating relative undervaluation in the market, while CleanSpark's forward P/E ratio of 40.4x reflects market expectations for its future profitability.
See More
Investment Comparison Between Canaan and CleanSpark
- Canaan Financial Performance: In FY 2025, Canaan reported nearly $529.7 million in revenue, reflecting a 96.7% year-over-year growth, yet it faced a net loss of approximately $210.3 million, resulting in a negative net margin of 39.7%, indicating a need for improved profitability in the competitive semiconductor market.
- CleanSpark Profitability Shift: CleanSpark generated around $766.3 million in revenue for FY 2025, marking a 102.2% increase from the previous year, and successfully transitioned to profitability with a net income of approximately $364.5 million, achieving a net margin of 47.6%, showcasing its strong performance in the bitcoin mining infrastructure sector.
- Market Risk Analysis: Canaan is exposed to rapid technological changes and cyclical industry risks, where the emergence of more efficient chips or a decline in mining demand could severely impact revenues, while CleanSpark's profitability is closely tied to bitcoin prices, with low market prices posing a risk to its operations.
- Investor Choice Consideration: While Canaan offers innovative potential in hardware design, CleanSpark appears more attractive for future growth due to its data center expansion and profitability, prompting investors to weigh the risks and returns of both companies.
See More
Riot Platforms Shares Surge 57.3% Amid AI and Nuclear Power Plans
- Stock Surge: Riot Platforms' shares rose 57.3% in May 2026, contributing to a staggering 114% year-to-date increase, indicating that market enthusiasm for AI computing is significantly boosting the company's stock performance.
- Nuclear Partnership: Riot has partnered with nuclear power plant builder Terrestrial Energy to potentially add molten salt reactors near its data centers in Texas and Kentucky, aiming to enhance energy efficiency and provide clean power for future operations.
- Technological Innovation: Terrestrial Energy's molten salt reactors dissolve nuclear fuel in liquid salts, allowing for high-temperature operation and compact design, which is expected to provide Riot with a stable power source to enhance its AI computing capabilities.
- Market Outlook: Although Riot's nuclear plans are still in the early stages with no clear timeline for construction, if AI and Bitcoin mining continue to grow through 2030, Riot could capitalize on significant economic benefits, making it an attractive option for investors.
See More
CleanSpark Releases May 2026 Operational Update Highlighting Growth
- Bitcoin Production Increase: CleanSpark produced 671 Bitcoin in May 2026, bringing the total output for the year to 3,110 Bitcoin, indicating the company's ongoing growth potential in the Bitcoin mining sector and enhancing its market competitiveness.
- Hashrate and Miner Deployment: The company achieved an operational hashrate of 50 EH/s with 224,470 deployed miners, a growth that not only improves mining efficiency but also lays the groundwork for future expansions, further solidifying its position in the industry.
- Power Capacity Expansion: CleanSpark increased its contracted power capacity to 1.8 GW, with 808 MW utilized, a move that not only ensures stable power supply during mining operations but also provides ample power support for future expansions.
- Executive Appointment: The company appointed Ruben Sahakyan as Senior Vice President of Finance, a personnel change aimed at strengthening financial management capabilities to support the company's commercialization plans and ongoing expansion strategy.
See More
CleanSpark Strengthens Management Team with $20B Deal Veteran for Multi-Gigawatt Commercialization
- Management Team Enhancement: CleanSpark appointed Ruben Sahakyan as Senior Vice President of Finance to oversee Capital Markets, Financial Planning & Analysis, and M&A functions, leveraging his experience with over $20 billion in advisory transactions in digital assets and infrastructure to bolster the company's AI data center financing capabilities and advance commercialization efforts.
- Bitcoin Production Highlights: In May 2026, CleanSpark produced 671 bitcoins, achieving a peak daily production of 23.16 bitcoins and an average daily production of 21.66 bitcoins, demonstrating the company's strong performance in the bitcoin mining sector and further solidifying its market leadership.
- Hashrate and Power Portfolio: As of May 31, 2026, CleanSpark's operational hashrate reached 150 EH/s, with 21.8 GW of contracted power capacity and 3,808 MW utilized, providing a robust infrastructure that supports the company's expansion into a digital infrastructure platform.
- Bitcoin Holdings Overview: As of May 31, 2026, CleanSpark's total bitcoin holdings amounted to 13,470, with 1,560 posted as collateral or receivables, reflecting the company's solid strategy in digital asset management and its adaptability in the market.
See More
CleanSpark Appoints New SVP of Finance to Enhance Growth Strategy
- Management Team Strengthening: CleanSpark has appointed Ruben Sahakyan as Senior Vice President of Finance to enhance the company's capabilities in AI data center financing, supporting commercialization efforts in Georgia and Texas, thereby boosting its competitive position in the market.
- Bitcoin Production Metrics: In May 2026, CleanSpark produced a total of 671 bitcoins, with a peak daily production of 23.16 bitcoins and an average daily production of 21.66 bitcoins, indicating the company's ongoing growth potential in the bitcoin mining sector.
- Hashrate and Power Portfolio: As of May 2026, CleanSpark's operational hashrate reached 150 EH/s, with a contracted power capacity of 21.8 GW and utilized megawatts at 3808 MW, reflecting the company's optimization in resource allocation and operational efficiency.
- Bitcoin Holdings Overview: As of May 31, CleanSpark's total bitcoin holdings amounted to 13,470, with 1,560 posted as collateral, demonstrating the company's robust strategy in digital asset management.
See More
Investment Comparison: Canaan vs CleanSpark
- Canaan Financial Performance: In FY 2025, Canaan reported revenue of nearly $529.7 million, a 96.7% increase year-over-year, despite a net loss of approximately $210.3 million, resulting in a negative net margin of 39.7%, indicating a need for improved profitability in the rapidly growing semiconductor market.
- CleanSpark Profitability: CleanSpark achieved revenue of about $766.3 million in FY 2025, up 102.2% from the previous year, successfully transitioning to profitability with a net income of approximately $364.5 million and a net margin of around 47.6%, showcasing strong performance in the bitcoin mining infrastructure sector.
- Risk Analysis: Canaan faces significant risks from rapid technological changes and the cyclical nature of the mining industry, as revenue could decline sharply if competitors develop more efficient chips or if mining demand falls; meanwhile, CleanSpark's reliance on bitcoin prices poses a risk of unprofitability during market downturns.
- Valuation Comparison: Canaan's price-to-sales ratio stands at 0.4x, significantly lower than CleanSpark's 6.3x, indicating relative undervaluation in the market, while CleanSpark's forward P/E ratio of 40.4x reflects market expectations for its future profitability.
See More
Investment Comparison Between Canaan and CleanSpark
- Canaan Financial Performance: In FY 2025, Canaan reported nearly $529.7 million in revenue, reflecting a 96.7% year-over-year growth, yet it faced a net loss of approximately $210.3 million, resulting in a negative net margin of 39.7%, indicating a need for improved profitability in the competitive semiconductor market.
- CleanSpark Profitability Shift: CleanSpark generated around $766.3 million in revenue for FY 2025, marking a 102.2% increase from the previous year, and successfully transitioned to profitability with a net income of approximately $364.5 million, achieving a net margin of 47.6%, showcasing its strong performance in the bitcoin mining infrastructure sector.
- Market Risk Analysis: Canaan is exposed to rapid technological changes and cyclical industry risks, where the emergence of more efficient chips or a decline in mining demand could severely impact revenues, while CleanSpark's profitability is closely tied to bitcoin prices, with low market prices posing a risk to its operations.
- Investor Choice Consideration: While Canaan offers innovative potential in hardware design, CleanSpark appears more attractive for future growth due to its data center expansion and profitability, prompting investors to weigh the risks and returns of both companies.
See More
