What's Going On With Bitcoin-Miner CleanSpark Stock?
Portfolio Pulse from Erica Kollmann
CleanSpark, Inc. (NASDAQ:CLSK) shares are rising as Bitcoin exceeds $45,000. CleanSpark announced the acquisition of three bitcoin mining facilities in Mississippi for $19.8 million, expecting to close the deal within 21 days. The facilities' hashrate is anticipated to reach 2.4 EH/s post-closure. CleanSpark mined 577 bitcoins in January. The stock has gained over 20% in the past five days, with investors looking forward to the Q1 financial results. Analysts predict a loss of 24 cents per share and $70.411 million in revenue. CleanSpark has an average 1-year price target of $11.20, indicating a 10.67% upside.
February 08, 2024 | 5:01 pm
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POSITIVE IMPACT
CleanSpark's stock is positively impacted by the acquisition of bitcoin mining facilities and the recent surge in Bitcoin prices. The company's proactive expansion and significant bitcoin mining in January contribute to investor optimism.
The acquisition of mining facilities and the performance of Bitcoin directly influence CleanSpark's operational capacity and market perception. The anticipation of Q1 results, coupled with a positive mining report, supports a bullish outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100