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].

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about CleanSpark (CLSK) . CleanSpark currently has an average brokerag ...

Market Overview - The cryptocurrency market experienced a significant decline in April following a strong rally over the previous 15 months, with Bitcoin (BTC) reaching an all-time high of 73,750.07 on March 14, before falling nearly 17% [1][2] - Bitcoin gained over 67% in Q1 2024 after a 157% increase in 2023, currently trading 10% below its all-time high [1][2] Factors Influencing Bitcoin Price - The recent decline in Bitcoin's price is attributed to the halving event that occurred last month, which happens every four years, and concerns over the Federal Reserve maintaining higher interest rates due to persistent inflation and a strong labor market [2] - Higher interest rates negatively impact high-growth sectors, including technology, consumer discretionary, and cryptocurrency [2] Future Price Speculation - Following the halving event, there is speculation that reduced Bitcoin supply will lead to a price increase driven by scarcity [3] - The halving reduces miners' block rewards by half, aiming to cap Bitcoin's total circulation at 21 million, which increases demand for new Bitcoins and potentially drives up prices [3] Bitcoin ETFs Impact - Since the launch of the first Bitcoin ETFs on January 11, Bitcoin has surged over 50%, providing a regulated investment avenue for both retail and institutional investors, enhancing liquidity and contributing to price stability [4] Optimistic Price Predictions - Research firms have optimistic forecasts for Bitcoin, with Standard Chartered predicting a price of $100,000 by the end of 2024, while Fundstrat estimates a range of $116,000 to $137,000 for this year [5] - Hedge fund SkyBridge anticipates Bitcoin reaching $170,000 by April 2025, and VanEck has a medium-term target of $350,000 [6] Company Highlights - Coinbase Global Inc. (COIN) is a leading provider of financial infrastructure for the crypto economy, with an expected earnings growth rate of over 100% for the current year and a Zacks Rank of 1 [8][9] - NVIDIA Corp. (NVDA), a major player in the semiconductor industry, has a strong correlation with the crypto market due to its GPU production, with an expected earnings growth rate of 87.4% [10][11] - Robinhood Markets Inc. (HOOD) offers a platform for investing in various assets, including cryptocurrencies, with an expected earnings growth rate of over 100% [12][13] - CleanSpark Inc. (CLSK) operates as a Bitcoin miner with a focus on low-carbon power, also expecting over 100% earnings growth [13][14] - Hut 8 Corp. (HUT) is involved in digital asset mining and aims to increase its total hash rate to 9.8 EH/s, with an expected earnings growth rate of over 100% [14][15]