CleanSpark: Why The Shorts Have Got It Wrong
Contributor since 2024 / 24 Followers
Summary:
- CleanSpark is a bitcoin mining company that hasn’t appreciated at the rate of other bitcoin or crypto-related stocks in the short term, such as MicroStrategy Inc. or Coinbase.
- The % short float for CleanSpark is at 31% of their shares outstanding. Dilution, combined with this excessive shorting, has spooked retail investors.
- A major catalyst for CleanSpark will be their guidance for Q4 earnings as they have been HODLing a significant number of bitcoins where the appreciation in price will eventually show.
- CleanSpark is one of the few miners that has scale and is also very cost-efficient, thus making it the best mining investment opportunity on the market.
- I have a Strong Buy rating for CleanSpark with an expected price target of $45 by Q3 2025 earnings, based on my modelling for future revenue and earnings.
Olemedia
CleanSpark (NASDAQ:CLSK) is one of the many bitcoin miners that should have seen major appreciation in its stock value as Bitcoin almost reached a new high of $100,000. The stock price is up nearly 40% year to date; however, it has been tepid recently
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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