Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on CleanSpark (CLSK), and highlights the importance of using these recommendations in conjunction with other analytical tools like Zacks Rank for making informed investment decisions [1][3]. Group 1: Brokerage Recommendations - CleanSpark has an average brokerage recommendation (ABR) of 1.33, indicating a consensus between Strong Buy and Buy, with 83.3% of the six recommendations being Strong Buy [2]. - Despite the positive ABR, the article cautions against making investment decisions solely based on this metric, as studies show limited success of brokerage recommendations in predicting stock price increases [3][4]. - Analysts from brokerage firms tend to exhibit a strong positive bias in their ratings, often issuing five Strong Buy recommendations for every Strong Sell, which may mislead investors [4][8]. Group 2: Zacks Rank - Zacks Rank categorizes stocks into five groups based on earnings estimate revisions, with a strong correlation between these revisions and near-term stock price movements, making it a more reliable indicator than ABR [6][9]. - The Zacks Rank is updated more frequently than ABR, as it reflects the latest earnings estimates from analysts, providing timely insights into potential stock price movements [10]. - CleanSpark currently holds a Zacks Rank of 3 (Hold), with the consensus earnings estimate remaining unchanged at $0.52, suggesting the stock may perform in line with the broader market in the near term [11][12].

Core Viewpoint - CleanSpark's acquisition of GRIID Infrastructure for $155 million is seen as a strategic move to expand its mining capacity amid industry challenges following the Bitcoin halving event [1][2][3]. Company Summary - CleanSpark aims to increase its total planned power capacity to over 1 gigawatt (1 GW) within three years, with significant contributions from the GRIID acquisition [5]. - The acquisition allows CleanSpark to enhance its enterprise value by 14.7% and increase its power capacity by 33% [5]. - CleanSpark's Bitcoin treasury, valued at approximately $435 million, positions the company favorably for potential sales [5]. - The company has demonstrated strong operational efficiency, with a 110% increase in sales over the past year and a 15.6% reduction in operating expenses [13]. Industry Summary - The Bitcoin halving event has halved the mining reward from 6.25 BTC to 3.125 BTC, significantly impacting miners' profitability and raising concerns about the viability of weaker companies like GRIID [3][4]. - The mining industry is experiencing increased competition, with less than 6% of coins remaining for mining, leading to a peak difficulty level of 90.67 [3][4]. - Consolidation in the mining sector is ongoing, as financially troubled miners are forced to liquidate their assets, affecting supply dynamics [8][14]. - CleanSpark's aggressive expansion strategy, utilizing renewable energy, has positioned it better than competitors like Marathon Digital Holdings, which has seen a decline in performance [11][13].

Mines 494 bitcoin during the month and increases treasury by 567% compared to same prior-year period Officially expands into Wyoming and Tennessee LAS VEGAS, Aug. 2, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner®, today released its unaudited bitcoin mining and operations update for the month ending July 31, 2024. "We made significant progress in two new states this month," said Zach Bradford, CEO. "Power agreements totaling 75 MW have been secured in Wyoming along with the cl ...

Company Expansion and Operations - CleanSpark has executed 75 MW of power contracts and completed the acquisition of its first Bitcoin mining site in Wyoming, with a power capacity of 30 MW expected to add over 2 EH/s to the company's hashrate once operational [1] - The Cheyenne location will operate as a fully immersion-cooled site, deploying the all-new S21 immersion XPs, the most powerful and efficient generation of Bitcoin mining machines currently available [2] - CleanSpark is actively working to expand the available power at the Cheyenne site and is progressing on the close of the underlying real estate of a second site in Wyoming, which will bring an additional 45 MW online, expected to contribute an additional 3 EH/s to the company's hashrate [2] - The company's Bitcoin mining portfolio now includes twelve data centers in Georgia, three in Mississippi, one in Wyoming, and co-locations in Tennessee and New York [3] - CleanSpark expects to continue building upon the existing operational hashrate in Tennessee upon completion of the pending acquisition of GRIID Infrastructure [3] Industry and Regulatory Environment - The expansion in Wyoming aligns with the state's public support for the Bitcoin industry, following the University of Wyoming's launch of its Bitcoin Research Institute and Senator Lummis introducing the BITCOIN Act [4] - CleanSpark plans to grow its footprint beyond Cheyenne, throughout Wyoming, working with local, state, and national leaders [4] Company Overview - CleanSpark is America's Bitcoin Miner®, owning and operating multiple data centers that primarily run on low-carbon power, supporting Bitcoin as the world's most important digital commodity [5]

LAS VEGAS, July 31, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner®, will discuss its fiscal third quarter 2024 financial results via a live webcast beginning at 4:30 p.m. EST/ 1:30 p.m. PST on Thursday, August 8, 2024. Results will be released after the close of regular trading on August 8, 2024. Webcast Information: To view the webcast, please click here. Conference Call Information: North America Toll-Free: (888) 330-2137 International Toll: +1 (646) 960-0143 Conference ID: ...

Company Performance - CleanSpark (CLSK) closed at $18.13, reflecting a +1.63% increase from the previous day, outperforming the S&P 500's gain of 1.08% [1] - Over the past month, CleanSpark shares gained 3.18%, surpassing the Finance sector's loss of 2.72% and the S&P 500's gain of 0.43% [1] Earnings Estimates - Analysts expect CleanSpark to report earnings of $0.52 per share and revenue of $401.46 million for the full year, representing increases of +140.31% and +148.72% from the previous year, respectively [2] - For the upcoming earnings disclosure, the projected EPS is $0.04, indicating a 133.33% increase year-over-year, with revenue expected to reach $114.04 million, a 150.53% increase compared to the same quarter last year [6] Valuation Metrics - CleanSpark has a Forward P/E ratio of 34.31, which is significantly higher than its industry's Forward P/E of 11.91, indicating a premium valuation [4] Analyst Sentiment - The Zacks Rank system currently rates CleanSpark at 4 (Sell), with the consensus EPS estimate remaining stagnant over the past month [8] - Changes in analyst estimates are crucial as they reflect short-term business trends, with upward revisions indicating positive sentiment towards the company's operations [7] Industry Context - CleanSpark operates within the Financial - Miscellaneous Services industry, which currently holds a Zacks Industry Rank of 144, placing it in the bottom 43% of over 250 industries [9]

Company Overview - EHang Holdings (EH) is a leading company in the electric vertical takeoff and landing (eVTOL) vehicle market, being the only flying car stock globally that has commercialized its eVTOL vehicle [6][11][16] - The company has delivered 27 units to The Wencheng County Transportation Development Group in Zhejiang Province, China, significantly outpacing American competitors who are still in the prototype phase [2][16] Financial Performance - EHang's revenues nearly tripled in the first quarter, with expectations for continued growth in the second quarter [11] - The company delivered 26 eVTOL units in the first quarter, an increase from 11 units a year ago, indicating strong growth momentum [16] Market Position - EHang is positioned as a frontrunner in the eVTOL market, with its competitors lagging in regulatory approvals and product deliveries [2][16] - The company is seen as a prime investment opportunity due to its innovative edge and current market leadership in the flying car sector [6][11]

But First, Why Is Bitcoin Rallying? MARA started this week with a bang, surging close to 20% on Monday. This move made its stock positive yearto-date, now up close to 5%. Notably, MARA also broke out of consolidation above all major moving averages. If Bitcoin remains firm and continues its steady move, MARA might outperform in the short term due to its lengthy consolidation breakout and hefty short interest. iShares Bitcoin Trust (IBIT) Price Chart for Wednesday, July, 17, 2024 CleanSpark, Inc. (CLSK) Pric ...

Core Insights - Many hypergrowth stocks have experienced a sell-off due to rising interest rates, creating potential buying opportunities for investors [1] Company Summaries SoundHound AI - SoundHound AI is an AI-driven audio recognition company that is currently valued at nearly 30 times this year's sales, but has significant growth potential as companies upgrade their AI and voice recognition capabilities [2][3] - The company's revenue grew by 47% in both 2022 and 2023, with expectations for a CAGR of 50% from 2023 to 2025 [9] - SoundHound AI's adjusted EBITDA remains negative but is improving as the company scales its business [9] - The company has made strategic acquisitions, including SYNQ3, and is partnering with Nvidia to enhance its services [9] - SoundHound's Houndify platform is popular among companies seeking to develop customized AI-powered audio recognition tools without relying on larger tech firms [12] CleanSpark - CleanSpark is the third-largest Bitcoin miner in the U.S. by annual revenue, utilizing low-carbon energy sources for its operations [10] - The company transitioned from developing modular microgrids to Bitcoin mining, acquiring ATL Data Centers and expanding its mining facilities [6] - CleanSpark's revenue increased at a CAGR of 85% from fiscal 2021 to fiscal 2023, with the number of mined Bitcoins rising from 892 to 6,903 during the same period [11] - Analysts project CleanSpark's revenue to grow at a CAGR of 68% from fiscal 2023 to fiscal 2026, with adjusted EBITDA expected to increase at a CAGR of 100% [7]

Group 1: Market Trends and Investment Opportunities - The current market sentiment is shifting towards a 'risk off' approach, with investors advised to allocate into stocks and fixed-income assets [6] - Bitcoin has seen a 10% rally in the past five days, attracting investor attention despite its inherent risks [8] - Companies like CleanSpark, Coinbase, and MicroStrategy are highlighted as potential investment opportunities in the cryptocurrency sector [8] Group 2: CleanSpark Analysis - CleanSpark's stock price target has been raised to $28 by Cantor Fitzgerald, indicating a potential 53% upside from current levels [9] - The Vanguard Group increased its allocation in CleanSpark by 58.5%, bringing its total investment to $270.5 million, representing 6.4% of the company [10] - CleanSpark has mined 3,614 Bitcoins in 2024, valued at approximately $220 million at current prices, with June alone contributing 445 Bitcoins worth $27 million [14][15] Group 3: Coinbase Analysis - Coinbase's revenues grew by 116% year-over-year, reaching $1.6 billion in Q1 2024, with a net income of $1.1 billion compared to a net loss of $78.9 million the previous year [24] - Analysts at HC Wainwright have set a valuation of $315 per share for Coinbase, suggesting a 29.7% upside from current trading levels [20] - Short interest in Coinbase has decreased by 1.1%, allowing the Vanguard Group to increase its position by 18.4%, totaling a net investment of $4.5 billion [21] Group 4: MicroStrategy Analysis - MicroStrategy has acquired 25,250 Bitcoins since the end of Q4 2023, translating to assets worth approximately $1.5 billion at current Bitcoin prices [31] - The consensus price target for MicroStrategy is set at $2,017, indicating a 25.2% upside from current levels [33] - The company's subscription service segment saw a 22% annual revenue increase, reaching $23 million, benefiting from high margins typical of SaaS businesses [27]