Bitcoin Miner CleanSpark Bets Big On Bull Market: 'We Could See Bitcoin Peak Just Under $200K,' Says CEO
Portfolio Pulse from Khyathi Dalal
CleanSpark (NASDAQ:CLSK) is expanding its Bitcoin mining capacity in anticipation of a potential Bitcoin price surge to nearly $200,000 within 18 months. The company is focusing on smaller, distributed mining operations and has scaled up to 1 gigawatt power contracts across five U.S. states. Bernstein analysts maintain an Outperform rating on CleanSpark with a $30 price target.
September 30, 2024 | 6:44 pm
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CleanSpark is expanding its Bitcoin mining capacity, anticipating a Bitcoin price surge to nearly $200,000. The company is focusing on smaller, distributed mining operations and has secured 1 gigawatt power contracts across five U.S. states. Bernstein maintains an Outperform rating with a $30 price target.
CleanSpark is making strategic moves to expand its mining capacity, which aligns with its CEO's bullish outlook on Bitcoin's price. The company's focus on smaller, distributed operations could offer competitive advantages. Bernstein's Outperform rating and significant price target suggest positive market sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100