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Stock Market Today, Jan. 14: CleanSpark Shares Jump After Texas Land Deal for AI Data Center Expansion
Yahoo Finance· 2026-01-14 22:54
Core Viewpoint - CleanSpark, a Bitcoin mining and AI infrastructure operator, has seen a significant increase in its stock price following a land purchase for AI data centers and an analyst upgrade, indicating potential growth opportunities in high-performance computing and AI sectors [1][2][4]. Group 1: Company Performance - CleanSpark closed at $13.34, up 6.29%, with trading volume reaching 59.7 million shares, approximately 89% above its three-month average of 31.5 million shares [1]. - The company has experienced an 87% decline in stock price since its IPO in 2016 [1]. Group 2: Market Reactions - Investors reacted positively to CleanSpark's recent land acquisition in Texas, which is aimed at supporting its data center ambitions [2][5]. - Northland Capital Markets upgraded CleanSpark to a "strong buy" with a price target of $22.50, suggesting an upside of roughly 80% [4]. Group 3: Strategic Developments - CleanSpark purchased 447 acres of land near Houston, Texas, marking its second land acquisition in the state, following a purchase of 271 acres in October 2025 [5]. - The company aims to diversify its operations beyond Bitcoin mining into high-performance computing and AI data center infrastructure [4].