CleanSpark's (CLSK -0.26%) stock more than tripled over the past year and outperformed all of its closest Bitcoin (BTC 0.85%) mining peers. Its top competitors, Marathon Digital (MARA -0.74%) and Riot Platforms (RIOT 0.22%), rallied 30% and declined 29%, respectively. CleanSpark's use of renewable energy to mine Bitcoin, its high growth rates, and its inorganic expansion plans seemed to impress the bulls. But can it stay ahead of its competitors and generate millionaire-maker gains over the next decade? The ...

CLSK stock has delivered a year-to-date (YTD) return of over 45%. Despite trading at a premium valuation of 9.2 times sales, analysts remain bullish, projecting a 65% upside with a 12-month median target of $26.50. Next in today's list of blockchain stocks is the iShares Blockchain and Tech ETF (NYSEARCA:IBLC). Launched in April 2022, IBLC tracks the NYSE FactSet Global Blockchain Technologies Index, primarily investing in firms advancing blockchain and crypto technologies worldwide. Source: David Cardinez ...

About CleanSpark Company mined 445 bitcoin; Exceeds 20 EH/s, doubling operating hashrate since December The Company achieved and exceeded its mid-year target of 20 EH/s in operational hashrate, a result of its previously announced acquisition of five new bitcoin mining sites in Georgia. The 60 MW of infrastructure from these sites include interruptible-load designated power purchase agreements (PPAs) with load balancing capabilities, a unique benefit for utility providers and the power grid. June Bitcoin Mi ...

With the crypto space evolving rapidly, the spotlight is on buying the best blockchain stocks to broaden your investment portfolio. Additionally, opting for blockchain stocks over direct crypto investments helps sidestep the risks of owning cryptos directly. That said, here are three blockchain stocks for early investors, offering significant exposure to this burgeoning space. These stocks are standout opportunities for those looking to tap into the potential of blockchain technology while maintaining a str ...

LAS VEGAS, June 27, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK) ("CleanSpark") and GRIID Infrastructure Inc. (Nasdaq: GRDI) ("GRIID") announced today that they have entered into a definitive merger agreement pursuant to which CleanSpark will acquire all the issued and outstanding common stock of GRIID in an all-stock transaction. The total enterprise value, including payment and assumption of debt, of the transaction is $155 million. Concurrent with the signing of the merger agreement, the companies ...

Under the terms of the merger agreement, GRIID stockholders will receive shares of CleanSpark common stock based upon an exchange ratio equal to the quotient obtained by dividing the aggregate merger consideration by the total number of shares of GRIID common stock issued and outstanding as of the closing date of the merger. The aggregate merger consideration is equal to the quotient obtained by dividing (x) the sum of (i) $155,000,000 minus (ii) the amount of GRIID's outstanding liabilities as of the closi ...

Wall Street is coming around on the technology. This year, the SEC approved spot Bitcoin and Ethereum ETFs trading in the United States. But, if you're still on the fence, here are three top blockchain stocks to buy now that we think can change your mind. The blockchain is a transparent and accurate digital ledger that is self-sustaining and does not require human intervention. This means that any transaction that takes place on the blockchain will be recorded and kept forever. Due to its decentralized stru ...

Acquisitions are expected to increase Company's operating hashrate to over 20 EH/s by month's end using already purchased hardware LAS VEGAS, June 18, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today announced it has entered into definitive agreements to acquire five turnkey bitcoin mining facilities in rural Georgia for a cash payment of $25.8 million. "Our acquisition of these five new mining sites marks a significant milestone in our strategic growth plan and represent ...

Industry Overview - The demand for crypto mining infrastructure is increasing as Bitcoin prices have risen to over $70,000, indicating potential for steady growth in the crypto markets [1] - Companies involved in building and operating specialized computing hardware for Bitcoin mining are positioned to benefit from this growth [2] Marathon Digital Holdings (MARA) - Marathon Digital is one of the largest publicly traded Bitcoin mining companies, utilizing high-performance computers to validate transactions and earn Bitcoin [4] - In Q1 2024, Marathon produced 2,811 bitcoins, generating revenues of $165.2 million and achieving a net income of $337.2 million, with adjusted EBITDA of $528.8 million, showing substantial growth year-over-year [5] - The company held 15,741 bitcoins valued at over $1 billion at the end of March 2024 [6] - Marathon also generates hosting revenue and has introduced new products like Slipstream and MARAFW to diversify income streams [7][15] Riot Blockchain (RIOT) - Riot Blockchain is another major player in the Bitcoin mining sector, with significant mining operations and plans to expand capacity [9] - The company currently has 11.7 EH/s of mining capacity and aims to reach 31 EH/s by the end of 2024, with a long-term goal of over 40 EH/s once the Corsicana Facility is fully operational [10] - In Q1 2024, Riot achieved total revenues of $79.3 million, with $74.6 million coming from Bitcoin mining, reflecting a 57% year-over-year growth [16] - Riot has proposed acquiring Bitfarms in a $950 million deal, which would create the largest publicly traded Bitcoin mining company [17] CleanSpark (CLSK) - CleanSpark operates sustainable data centers powered by low-carbon energy, positioning itself as a leading Bitcoin mining company [12] - The company expects to exceed a network hash rate of 20 EH/s in the first half of 2024 and plans to fund expansion through acquisitions and upgrades [13] - In Q1 2024, CleanSpark generated record revenue of $73.8 million, a 165% increase year-over-year, and posted a net income of $25.9 million, reversing a loss from the previous year [18]

Core Viewpoint - CleanSpark Inc. has reported strong performance in bitcoin mining, achieving significant production levels post-block reward halving and maintaining a focus on operational efficiency and expansion opportunities [2][4]. Group 1: Bitcoin Mining Performance - The company mined 417 bitcoin in May 2024, bringing total bitcoin holdings to 6,154 [4]. - Year-to-date bitcoin mined in 2024 stands at 3,169 [4]. - The average daily bitcoin mined in May was 13.45, with a peak of 15.0 [4]. Group 2: Operational Efficiency - CleanSpark achieved a hashrate of nearly 18 exahashes per second (EH/s) and improved fleet efficiency to 23.05 joules per terahash (J/Th) [2][4]. - The current hashrate is reported at 17.97 EH/s [4]. Group 3: Expansion and M&A Activities - The company is actively pursuing mergers and acquisitions, with plans to close on a new site in Wyoming soon [3]. - The Dalton expansion is underway, with building permits issued and expected to enhance the facility's capacity to 2.4 EH/s upon completion [5]. Group 4: Financial Aspects - In May 2024, CleanSpark sold 2.43 bitcoin at an average price of approximately $59,000 per bitcoin [4].