Latest news with #CleanSpark
Yahoo
a day ago
- Business
- Yahoo
Mining Profitability Climbed Over 5% in June as Hashrate Fell, BTC Price Rose: Jefferies
Bitcoin (BTC) mining profitability increased 5.3% in June, buoyed by a 1.2% increase in the cryptocurrency's price and a 6.7% drop in the network hashrate, according to a report by investment bank Jefferies. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. It is measured in exahashes per second (EH/s). The profitability boost came as extreme summer heat across the U.S. drove up energy prices, prompting less efficient miners to throttle operations. So far in July, bitcoin has surged past $123,000, to set a new all-time high driven by increasingly favorable crypto regulation and a weakening U.S. dollar following tariff-related comments from President Donald Trump. The macro and regulatory backdrop has intensified investor interest and provided a fresh tailwind for mining firms, the report said. Despite the improved profitability, North American public miners saw a month-over-month decline in bitcoin production, analysts Jonathan Petersen and Jan Aygul wrote. In June, they mined a total of 3,382 BTC, down from 3,754 in May. They accounted for 25.1% of the global network, versus 26.3% the prior month, the report noted. MARA (MARA) led in output with 713 BTC mined, followed by CleanSpark with 685 tokens. MARA also maintained its lead in energized hashrate, posting 57.4 EH/s at the end of June, down slightly from May's 58.3 EH/s. CLSK held the second-highest hashrate at 45.3 EH/s, the bank said. Bitcoin mining economics improved last month. A hypothetical 1 EH/s mining fleet would have generated approximately $57,000 in daily revenue during June, up from $54,000 in May, the report added.
Yahoo
a day ago
- Business
- Yahoo
Cantor outlines how to navigate the emerging Bitcoin treasury sector
- The amount of Bitcoin owned by companies specializing in accruing more of the cryptocurrency is anticipated to rise, according to analysts at Cantor. Many firms have recently embarked on Bitcoin buying sprees, as part of a bid to capitalize on the digital coin's soaring value and hopes for a softer regulatory backdrop. In a note, the analysts led by Brett Knoblauch said these so-called "Bitcoin treasury companies," such as MicroStrategy (NASDAQ:MSTR), Marathon Digital Holdings (NASDAQ:MARA), and CleanSpark (NASDAQ:CLSK), own or have raised capital acquire roughly 904,000 of the digital tokens. "[W]e expect that number to only continue to increase given the capital market advantages these companies have," they argued. They added that "if feels like a new Bitcoin treasury play is emerging every day," fueled by a range of factors, including retail investor enthusiasm, the relative ease of buying stocks compared to cryptocurrencies, and fewer punitive tax rules equities than on digital assets. "Financial engineering" is also seen allowing Bitcoin treasury companies to continuously grow their Bitcoin positions in the future, the analysts predicted. The trend comes as firms are trying to emulate the success of Strategy, the software group formerly known as MicroStrategy, which began building up its Bitcoin stockpile in 2020 and now owns more than $63 billion worth of the world's largest cryptocurrency. Investors have seemingly celebrated the move, with Strategy's stock up by 3,000% since 2020, mirroring a surge in Bitcoin to recent all-time highs. Last week, twenty new public firms announced crypto purchases, the Cantor analysts noted. But "not all Bitcoin treasury companies are created equal" and "some offer better risk/reward than others," they flagged. Perhaps most importantly, these companies need to be able to rake in capital, as this will help facilitate further Bitcoin purchases, the analysts said. "The amount of capital a company has access to in this space is largely driven by trading liquidity. For shares to have a relatively high amount of volume, we believe they need to have a management team that carries weight in the crypto ecosystem," they argued. Buying Bitcoin is crucial for these companies, as their ability to acquire more of the asset will likely determine their long-term performance, the analysts said. "Thus, if we look at multiple of Bitcoin net asset value, a company on a higher multiple today objectively screens more expensive, but that could be entirely justified by the market's perception that it can sustain continued Bitcoin acquisitions over the long run," they wrote. Against this backdrop, the analysts named Strategy as their top pick among Bitcoin treasury names, and initiated coverage of new players Semler Scientific and Fold Holdings with "overweight" ratings. Related articles Cantor outlines how to navigate the emerging Bitcoin treasury sector Eric Trump tweets support for Ethereum amid price rally Trump-linked World Liberty Financial coin price could 'skyrocket' says analyst Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
CleanSpark (CLSK) Stock Declines While Market Improves: Some Information for Investors
CleanSpark (CLSK) closed the most recent trading day at $11.82, moving -4.21% from the previous trading session. This change lagged the S&P 500's 0.4% gain on the day. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq added 0.24%. Heading into today, shares of the company had gained 14.15% over the past month, outpacing the Finance sector's gain of 3.3% and the S&P 500's gain of 4.61%. Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. On that day, CleanSpark is projected to report earnings of $0 per share, which would represent a year-over-year decline of 100%. In the meantime, our current consensus estimate forecasts the revenue to be $196.39 million, indicating a 88.64% growth compared to the corresponding quarter of the prior year. For the full year, the Zacks Consensus Estimates project earnings of $0.62 per share and a revenue of $764.01 million, demonstrating changes of +338.46% and +101.6%, respectively, from the preceding year. Investors should also pay attention to any latest changes in analyst estimates for CleanSpark. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 53.33% higher. At present, CleanSpark boasts a Zacks Rank of #3 (Hold). Looking at its valuation, CleanSpark is holding a Forward P/E ratio of 19.82. This indicates a premium in contrast to its industry's Forward P/E of 12.78. The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 98, putting it in the top 40% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleanspark, Inc. (CLSK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Jim Cramer on CleanSpark: 'You Can Speculate With It'
CleanSpark, Inc. (NASDAQ:CLSK) is one of the stocks Jim Cramer reflected on. When a caller inquired about the stock, Cramer made a positive comment about it but noted that it is still speculative. He said: 'Okay, alright, CleanSpark is another one of these stocks that, I mean, frankly, I didn't even know JPMorgan followed that one. I'm not so sure they do. It's another one of those stocks that one headline is going to roll. So, I now say it's okay to have a speculative, look, you can speculate with it as long as you understand that it's speculation and nothing more.' Photo by Bitcoin Executium on Unsplash CleanSpark (NASDAQ:CLSK) operates as a bitcoin mining company and owns data centers that support the Bitcoin network. The company reached its mid-year goal of 50 EH/s in operational hashrate in June 2025, becoming the first Bitcoin miner to achieve this through fully self-operated infrastructure. The milestone reflects a 9.6% monthly increase and improved energy efficiency. The company's CEO commented: 'I want to express my gratitude to our team, especially our COO Scott Garrison and CTO Taylor Monnig, for their grit and leadership. Under their direction, the tireless efforts of our operations and technology teams resulted in the addition of over 10 EH/s of capacity across four states to achieve the ambitious target. With the talent, infrastructure and power contracts in place, CleanSpark is well-positioned to continue scaling.' While we acknowledge the potential of CLSK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-07-2025
- Business
- Yahoo
B. Riley Initiates Coverage of CleanSpark (CLSK) With a Buy Rating
CleanSpark, Inc. (NASDAQ:CLSK) is one of the top bitcoin mining stocks to buy amid bitcoin hike. On July 1, B. Riley initiated coverage of CleanSpark, Inc. (NASDAQ:CLSK) with a Buy rating and $16 price target. CleanSpark (CLSK) Tracks Bitcoin Rally to New High, Jumps 12.5% A hall of server racks, illuminated by blue LED lights and humming with energy. The firm told investors in a research note that CleanSpark, Inc. (NASDAQ:CLSK) should continue to meet its growth targets over the coming 12 months. The company surpassed its mid-year operating hash rate goal of 50 EH/s ahead of schedule on June 24, attaining the status of the first publicly traded bitcoin miner to achieve this scale with fully self-operated infrastructure, the firm noted. The feat represented a 9.6% month-over-month increase, which further bolstered the company's fleet's energy efficiency to 16.15 J/Th. CleanSpark, Inc. (NASDAQ:CLSK) is a bitcoin mining company that independently owns and operates data centers across the US, with locations in Georgia, Mississippi, Tennessee, and Wyoming. While we acknowledge the potential of CLSK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
