CleanSpark Is A High Conviction Name In Bitcoin Mining Sector: Analyst

Core Viewpoint - CleanSpark, Inc. is expected to perform strongly in 2025, with a Buy rating and a price forecast of $27 from H.C. Wainwright analyst Mike Colonnese [1][2]. Financial Performance - CleanSpark reported first-quarter revenue of $162.3 million, exceeding analyst estimates of $150.87 million [1]. - The revenue estimate for 2025 is maintained at $854.9 million, while the adjusted EBITDA forecast has been raised to $663.2 million from $411.2 million [4]. Hashrate and Efficiency - CleanSpark's hashrate surpassed 40 EH/s in January, with expectations to reach 50 EH/s in the first half of 2025 [1][2]. - The impressive results are attributed to a significant increase in deployed hash rate, improved fleet efficiency, reduced production costs, and lower operating expenses [3]. Market Outlook - The analyst remains optimistic about Bitcoin prices in 2025, with estimates based on a Bitcoin price of $98,866 and an average network hash rate of 837 EH/s [4]. - CleanSpark is considered one of the top Bitcoin miners, supported by an excellent management team [3]. Stock Performance - CLSK shares have increased by 15.3%, trading at $11.96 [5].