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Northland Initiates CleanSpark (CLSK) at Outperform with $22.50 PT on Strategic AI Pivot
Yahoo Finance· 2026-01-19 13:02
Core Viewpoint - CleanSpark Inc. (NASDAQ:CLSK) is recognized as a promising long-term investment, particularly due to its strategic pivot towards AI data centers and its strong position in Bitcoin mining [1][2][3]. Group 1: Company Overview - CleanSpark operates as a Bitcoin mining company in the Americas, owning, leasing, and managing data centers and power assets [4]. - The company currently has approximately 50 EH/s of mining capacity in the US [1]. Group 2: Strategic Developments - Northland initiated coverage of CleanSpark with an Outperform rating and a price target of $22.50, emphasizing the company's diversification into HPC and AI data centers [1][3]. - Maxim Group also initiated coverage with a Buy rating and a price target of $22, highlighting CleanSpark's shift from Bitcoin mining to AI data centers to meet rising infrastructure demand [2]. - The company has acquired a 285MW site in Texas and secured approximately 1.5GW of contracted power by November 2025, providing a competitive edge over rivals facing approval delays [3].