CleanSpark's Q1 results reinforce the bull case, with strong revenue, low mining costs, and improving efficiency, justifying a Strong Buy rating despite recent stock volatility.
The company is scaling efficiently, achieving 40 EH/s ahead of schedule, aiming for 50 EH/s by Q2, and maintaining a robust balance sheet.
CleanSpark's strategy of mining and holding Bitcoin offers dual paths to capital appreciation, but risks include rising mining difficulty and Bitcoin price volatility.
Despite high short interest and extreme volatility, CleanSpark's valuation appears attractive, especially if Bitcoin continues its upward trajectory in 2025.
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Bitcoin miner CleanSpark (NASDAQ:CLSK) posted first quarter earnings on February 6th, and the stock was up nicely the next trading day. I have been bullish on CleanSpark on the idea that rising Bitcoin prices would take
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Analyst’s Disclosure:I/we have a beneficial long position in the shares of CLSK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Would like to see a comparison of CleanSpark and Bitcoin price and volatility over time.. Would be especially relevant as CleanSpark is mining more and increasing efficiency in a declining source as Bitcoins have a maximum limit of availability. The large percent of shorts can be a sort of arb trade vs Bitcoin..
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