Market Overview - Broad stock market indexes have reached new all-time highs, confirming the current bull market [1] - The S&P 500 experienced a ~6% pullback in April, which was seen as a typical correction before the strong recovery to new highs [1] Bitcoin and Correlation with Stocks - Bitcoin has been acting as a proxy for risk, showing a strong correlation with US equities, particularly technology stocks, with Bitcoin potentially gaining 3-5% for every 1% increase in stocks [3] - Bitcoin's price recently broke out from a bullish wedge/flag pattern, marking the third breakout since October [4] Coinbase Global (COIN) - Coinbase Global is the leading cryptocurrency brokerage in the US, benefiting from increased trading activity in Bitcoin and other cryptocurrencies [6] - Earnings estimates for Coinbase have significantly increased, with FY24 estimates rising from $1.57 to $7.18 per share, earning a Zacks Rank 1 (Strong Buy) [7] - The stock is forming a descending wedge pattern, with a breakout above $220 signaling potential new highs [8] Cleanspark (CLSK) - Cleanspark is a cryptocurrency miner showing strong performance compared to other miners like Marathon Digital and Riot Platforms, being the only one with positive returns year-to-date [12] - FY25 earnings estimates for Cleanspark have been revised from $0.04 to $1.86 per share, a remarkable increase of 4,550%, earning a Zacks Rank 2 (Buy) [13] - Cleanspark is also building a bullish technical pattern, with a breakout level at $17.70 [16] iShares Bitcoin Trust (IBIT) - The iShares Bitcoin Trust ETF offers direct exposure to Bitcoin with lower fees compared to Grayscale Bitcoin Trust ETF, making it an attractive option for investors [17] Investment Considerations - For investors seeking high-growth stocks and willing to accept volatility, Bitcoin and related stocks present a timely investment opportunity due to significant upgrades in brokerage and mining stocks, along with bullish chart setups [18]

The company is expected to earn $0.52 per share for the full year, which represents a change of +140.31% from the prior-year number. CleanSpark (CLSK) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, ...

Group 1 - CleanSpark (CLSK) closed at $15.55, with a 5.9% gain over the past four weeks, and a mean price target of $20.70 indicates a 33.1% upside potential [1] - The mean estimate consists of six short-term price targets with a standard deviation of $5.38, where the lowest estimate is $14.20 (8.7% decline) and the highest is $27 (73.6% increase) [2] - Analysts show strong agreement in revising earnings estimates higher, which correlates with potential upside in the stock [9][10] Group 2 - The Zacks Consensus Estimate for CLSK has increased by 70% due to one estimate moving higher in the last 30 days without any negative revisions [10] - CLSK holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [11] - While the consensus price target may not be a reliable indicator, the direction of price movement it implies appears to be a good guide for potential gains [11]

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about CleanSpark (CLSK) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. CleanSpark currently has an average brokerage recommendatio ...

Financial Data and Key Metrics Changes - The company reported revenue of $111.8 million for the second quarter, representing a 163% increase year-over-year and a 52% increase compared to the previous quarter [5][63] - Adjusted EBITDA for the second quarter was approximately $182 million, an improvement of 1.6 times over the preceding first quarter [13][63] - The company achieved a record net income of $126.7 million, or $0.59 earnings per share, compared to a net loss of $18.5 million, or a loss of $0.23 per share in the same quarter last year [8][63] Business Line Data and Key Metrics Changes - The total number of machines in operation increased from approximately 68,000 at the end of Q2 last year to about 134,000 at the end of Q2 this year, representing a significant increase in hashrate from 6.7 exahash to 16.7 exahash [6][8] - The average revenue per Bitcoin more than doubled year-over-year, increasing from approximately $23,000 to $55,000 [6][8] Market Data and Key Metrics Changes - The company noted that its mining economics remained healthy, with gross profit improving 21 points year-over-year and 8 points over the first quarter [7] - Wholesale power costs were as low as 1.3 cents per kilowatt hour, contributing to favorable all-in costs of 4.3 cents per kilowatt hour for wholly-owned locations [7] Company Strategy and Development Direction - The company is focused on growth through equity utilization, aiming to build long-term value and capitalize on the increasing adoption of Bitcoin [4] - The strategic approach emphasizes owning and operating facilities to maintain control over operations and costs, particularly in light of the recent Bitcoin halving [10][19] - The company plans to reach 50 exahash per second by 2025, with a target of 32 exahash per second coming online by the end of this year [45] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of operational efficiency and strategic positioning in navigating the challenges posed by the Bitcoin halving and market fluctuations [30][42] - The company anticipates significant consolidation in the Bitcoin mining industry, which will create opportunities for well-positioned miners like CleanSpark [42] Other Important Information - The company has a strong balance sheet with total liquidity of $681 million, including $323 million in cash and 5,021 Bitcoin valued at $358 million [18] - The company adopted fair value accounting for Bitcoin, recognizing a gain of almost $120 million in the second quarter [50] Q&A Session Summary Question: What are the expected construction and energization timelines for the newly acquired sites in Wyoming? - Management indicated that one site is partially ready and expects to complete the 45 megawatt site within 120 days, while the 30 megawatt site will take longer due to being a greenfield project [25][26] Question: How has the M&A landscape evolved since the halving? - Management noted an increase in opportunities as less efficient miners struggle, and they are open to various sizes of acquisitions, leveraging their access to capital [28][29] Question: Can you provide details on the relationship with the utility in Wyoming? - The company highlighted strong political support for Bitcoin in Wyoming and access to low-cost power, which were key factors in choosing the site for expansion [88]

UNITED STATES FORM 10-Q TABLE OF CONTENTS Item 4: Controls and Procedures 19 Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share CLSK The Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suc ...

CLEANSPARK, INC. CLEANSPARK, INC. RECONCILIATION OF ADJUSTED EBITDA (Unaudited, in thousands) Investor Relations Contact Brittany Moore 702-989-7693 ir@cleanspark.com FY2024 Second Quarter Revenue of $111.8 million, net income of $126.7 million and Adjusted EBITDA of $181.8 million Current hashrate surpasses 17 EH/s CleanSpark Reports Second Quarter FY2024 Financial Results Revenue grows 163% YoY "We've achieved remarkable milestones this past quarter, ultimately becoming what we believe to be the top opera ...

After dropping to a low of $59,117.50, Bitcoin (BTC-USD) is back above $63,000, creating big opportunity for some of the best crypto mining stocks to buy.Even better, the digital currency could race even with two nearing catalysts.For one, according to CoinDesk.com, “May 15 marks the deadline for institutional investment managers to file form 13-F with the Securities and Exchange Commission. If more firms are shown to have purchased the newly approved spot bitcoin exchange-traded funds during the first quar ...

Scott Garrison and Taylor Monnig promoted to new C-suite positions LAS VEGAS, May 8, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today announced the appointments of Scott Garrison as chief operating officer and Taylor Monnig as chief technology officer. Garrison, previously SVP of growth, and Monnig, previously SVP of mining technology, have been critical in CleanSpark's remarkable growth. Garrison has led business development and construction of the Company's data centers ...

These Bitcoin miners are seeing major upside today amid strength in the price of Bitcoin and spot ETF inflows.Cryptocurrency miners are seeing incredible interest in today's session. Shares of Marathon Digital (MARA 17.58%), CleanSpark (CLSK 8.72%), and TeraWulf (WULF 10.07%) are up 19.2%, 10.7%, and 10.4%, respectively, as of 1:15 p.m. ET.Of course, the moves in these top Bitcoin miners have a lot to do with Bitcoin's price action in recent days. Since dropping below the $57,000 mark to start this month, B ...