Group 1 - CleanSpark's stock closed at $11.14, reflecting a +1.64% increase, outperforming the S&P 500's gain of 0.61% [1] - Over the past month, CleanSpark's stock has risen by 2.81%, which is below the Finance sector's gain of 4.36% but above the S&P 500's gain of 2.08% [1] Group 2 - Analysts expect CleanSpark to report earnings of -$0.09 per share, indicating a year-over-year decline of 350%, while revenue is anticipated to be $151.88 million, a 105.82% increase compared to the previous year [2] - For the entire fiscal year, earnings are projected at $0.18 per share and revenue at $788.8 million, representing increases of +169.23% and +108.14% respectively from the prior year [3] Group 3 - Recent adjustments to analyst estimates for CleanSpark are crucial as they reflect changing business trends and analysts' outlook on the company's health and profitability [4] - The Zacks Rank system, which evaluates these estimate changes, indicates that CleanSpark currently holds a Zacks Rank of 3 (Hold) [6] Group 4 - CleanSpark's Forward P/E ratio is 60.89, significantly higher than the industry average of 10.47, indicating a premium valuation [7] - The Financial - Miscellaneous Services industry, to which CleanSpark belongs, has a Zacks Industry Rank of 89, placing it in the top 36% of over 250 industries [7]

CleanSpark (CLSK) shares have gained 45.3% in the trailing 12 months, outperforming the Zacks Finance sector’s appreciation of 25.2% and the Zacks Financial - Miscellaneous Services industry’s return of 23.5%.CleanSpark shares have also outperformed industry peers like Globe Life (GL) , Columbia Financial (CLBK) and Argo Blockchain (ARBK) , which have lost 3.7%, 14.8% and 71.3%, respectively, over the same time frame.CLSK’s use of renewable energy and its aggressive expansion have been major growth drivers. ...

Renewable Energy Industry Outlook - The global renewable energy capacity is expected to increase by over 5,500 gigawatts from 2024 to 2030, nearly triple the capacity added from 2017 to 2023 [2] - Investors could benefit from this expansion by investing in nuclear, wind, or solar stocks, with NuScale Power and CleanSpark highlighted as potential long-term holdings [3] NuScale Power - NuScale Power produces the only small modular reactors (SMRs) certified with a Standard Design Approval (SDA) by the U.S. Nuclear Regulatory Commission (NRC) [4] - The company's SMRs are compact, with dimensions of 9 feet wide and 65 feet tall, making them easier to deploy compared to larger nuclear reactors [4] - NuScale's modular designs are prefabricated, reducing costs and construction time, with current reactor clusters certified for up to 55 megawatts of electricity [5] - The company expects NRC certification for its first 77 megawatt reactors in 2024, which would make its SMRs more cost-effective than comparable coal-fired plants [5] - NuScale's stock surged nearly 650% over the past 12 months but remains more than 20% below its all-time high from November 2023 [6] - Revenue is projected to grow at a CAGR of 268% from 2024 to 2026, reaching $321 million, driven by reactor deployment and approvals [7] - The U.S. Department of Energy (DOE) allocated up to $900 million in cost-shared funds to develop more nuclear SMRs, with Amazon also supporting SMRs to meet energy needs [8] CleanSpark - CleanSpark develops modular microgrids for renewable energy sources, which can be deployed as stand-alone systems or integrated into existing grids [9] - The company transitioned into Bitcoin mining after acquiring ATL Data Centers in May 2021, using its technology to enhance mining efficiency with low-carbon energy [10] - In 2024, CleanSpark mined 7,024 Bitcoin, ending the year with 9,952 Bitcoins worth $947.9 million [11] - The company expanded its mining fleet by 127% year-over-year to 201,808 miners, increasing its operating hash rate by 288% to 39.1 EH/s [11] - Fiscal 2024 revenue surged 125% to $379 million, with adjusted EBITDA growing nearly tenfold to $246 million [12] - Analysts expect revenue and adjusted EBITDA to grow at a CAGR of 36% and 22%, respectively, from fiscal 2024 to fiscal 2027 [13] - With an enterprise value of $3 billion, CleanSpark's stock is valued at eight times this year's adjusted EBITDA, making it an attractive long-term investment [13]

Group 1 - CleanSpark's stock closed at $10.09, unchanged from the previous day, outperforming the S&P 500, which fell by 1.54% [1] - Over the past month, CleanSpark's shares have decreased by 18.17%, underperforming the Finance sector's loss of 3.4% and the S&P 500's loss of 2.2% [1] Group 2 - CleanSpark is expected to report an EPS of -$0.09, indicating a 350% decline year-over-year, while revenue is projected at $151.88 million, reflecting a 105.82% increase [2] - Full-year estimates predict earnings of $0.18 per share and revenue of $788.8 million, representing year-over-year changes of +169.23% and +108.14% respectively [3] Group 3 - Recent shifts in analyst projections for CleanSpark are important as they indicate changing near-term business trends, with positive revisions seen as a good sign for the company's outlook [4] - The Zacks Rank system, which includes estimate changes, currently ranks CleanSpark at 3 (Hold), with the consensus EPS estimate remaining unchanged over the last 30 days [6] Group 4 - CleanSpark's Forward P/E ratio is 56.06, significantly higher than the industry's average Forward P/E of 9.96, indicating a premium valuation [7] - The Financial - Miscellaneous Services industry, part of the Finance sector, has a Zacks Industry Rank of 57, placing it in the top 23% of over 250 industries [7]

Group 1 - Investors are observing volatile Bitcoin prices, particularly noting the recent drop below $100k as a potential buying opportunity [1] - Gary Alexander has extensive experience in technology sectors, having worked on Wall Street and in Silicon Valley, and advises seed-round startups [1] - Alexander has been a contributor to Seeking Alpha since 2017 and his insights are featured in various trading apps like Robinhood [1]

Core Insights - CleanSpark Inc. has achieved a significant milestone by surpassing 10,000 bitcoin in its treasury, all of which are self-mined from U.S.-based operations [1][2] - The company reported a 236% year-over-year increase in its bitcoin-denominated treasury, indicating strong growth in a dynamic market [2] Company Performance - The achievement reflects CleanSpark's commitment to operational excellence, strategic growth, and disciplined capital management [2] - The company emphasizes its focus on sustainable growth and innovation within the global bitcoin ecosystem, highlighting its dedication to using American energy and creating jobs [2][3] Financial Strategy - CleanSpark's financial strategy is designed to align with sound risk management principles, avoiding unfavorable counterparty exposure while leveraging bitcoin to lower capital costs [3] - The company aims to drive long-term value for stakeholders while contributing to the development of the global bitcoin and digital asset ecosystem [3] Operational Excellence - CleanSpark operates a portfolio of mining facilities across the United States, optimized for superior returns to shareholders through low-cost, high-reliability energy [4] - The company positions itself at the intersection of bitcoin, energy, operational excellence, and capital stewardship, which is crucial for success in the evolving digital asset landscape [4]

Group 1 - CleanSpark (NASDAQ: CLSK) shares were upgraded from 'hold' to 'buy' in October after a cautious outlook for most of 2024 [1] - CLSK experienced significant growth in 2023 after reaching a low point in December 2022 [1]

Core Insights - CleanSpark Inc. achieved significant growth in bitcoin mining, producing 668 bitcoin in December 2024 and a total of 7,024 bitcoin for the year [1][8] - The company reported a 287.9% increase in hashrate and a 33.3% improvement in efficiency year-over-year, reaching an operational hashrate of 39.1 EH/s and fleet efficiency of 17.59 J/Th by year-end [2][8] Mining Operations - In December 2024, CleanSpark's average hashrate was 35.52 EH/s, with an average of 21.56 bitcoin mined daily, peaking at 22.46 bitcoin in a single day [4] - The company sold 12.65 bitcoin in December at an average price of approximately $101,246 per bitcoin [4] Financial Updates - CleanSpark successfully closed a $650 million zero-coupon convertible bond offering in December to support its growth strategy, including reaching a target of 50 EH/s [5][2] - The company has a total of 9,952 bitcoin holdings as of December 31, 2024 [8] Expansion and Infrastructure - CleanSpark expanded its operations into three new states: Mississippi, Tennessee, and Wyoming, with multiple site expansions completed [2] - The Jackson, Tennessee site has an initial 12 MW of S21 XP Immersion miners, with a second phase adding 48 MW [6] - In Cheyenne, Wyoming, the company is constructing 75 MW of immersion-cooled bitcoin mining data centers, expected to contribute 5 EH/s upon completion [7]

Core Insights - CleanSpark has achieved an operating hashrate of 37.5 EH/s, exceeding its previous year-end target of 37 EH/s, with a fleet efficiency of 17.7 J/Th [3][4][8] - The company has accelerated its guidance for reaching 50 EH/s, now expected in the first half of 2025, supported by a recent $650 million zero-coupon convertible bond offering [5][8] - CleanSpark's bitcoin treasury balance is approaching 10,000 bitcoin, all of which have been mined by the company [5] Financial Performance - The company reported a nearly 300% increase in hashrate since the beginning of 2024 [4] - December has been highlighted as one of CleanSpark's strongest strategic months, with the capital raised expected to fully fund the expansion to 50 EH/s [5] Strategic Growth - The recent energization of new data centers in Tennessee and Wyoming is part of a multistage process aimed at increasing hashrate and fleet efficiency [8] - The growth strategy includes a mix of greenfield infrastructure development, organic growth through existing site expansion, and strategic mergers and acquisitions, all funded by the recent capital raise [8] Operational Excellence - CleanSpark operates a portfolio of mining facilities across the United States, leveraging globally competitive energy prices to optimize mining operations [9] - The company emphasizes its focus on bitcoin mining and operational excellence to deliver superior returns to shareholders [9]

Offering Details - CleanSpark completed a $650 million offering of 0.00% Convertible Senior Notes due 2030, including $100 million from the initial purchasers' full exercise of their option to buy additional notes [1] - The net proceeds to the company were approximately $633.6 million after deducting initial purchasers' discounts and estimated expenses [5] Use of Proceeds - Approximately $90.4 million of the net proceeds were used to pay for capped call transactions [5] - Approximately $145.0 million was used to repurchase 11.76 million shares of common stock [4][5] - The remaining proceeds will be used for repaying the company's line of credit with Coinbase, capital expenditures, potential acquisitions, and general corporate purposes [5] Capped Call Transactions - The company entered into capped call transactions with a cap price of $24.66 per share, representing a 100% premium over the December 12, 2024 closing price of $12.33 [3] - These transactions are expected to reduce potential dilution to common stock upon conversion of the Convertible Notes and offset potential cash payments in excess of the principal amount [3] Share Repurchase and Dilution Impact - The company repurchased 11.76 million shares for approximately $145 million, which will be removed from the outstanding share count [4] - The company will not have to issue additional shares (on a net basis) until the price of its common stock exceeds $33.67, considering the benefits of the capped call and share repurchase [4] Strategic Implications - The offering is expected to fully fund the company's growth through 50 EH/s and beyond [5] - The company plans to continue adding mined Bitcoin to its balance sheet and remains well-positioned for opportunistic acquisitions [5] - The offering provides greater clarity on near-term share count, with no immediate plans for another equity or equity-linked offering [5] Company Overview - CleanSpark is a market-leading, pure-play Bitcoin miner with a portfolio of mining facilities across the United States [8] - The company focuses on operational excellence, capital stewardship, and monetizing low-cost, high-reliability energy to secure Bitcoin [8]