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CleanSpark, Inc. (CLSK)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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15.69+1.85 (+13.37%)
At close: 4:00PM EDT
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Previous Close13.84
Open14.41
Bid15.52 x 900
Ask15.69 x 1200
Day's Range14.30 - 15.73
52 Week Range1.55 - 42.60
Volume1,858,539
Avg. Volume2,652,690
Market Cap533.739M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.81
Earnings DateAug 02, 2021 - Aug 06, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est47.50
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Tesla’s Elon Musk Reveals Bitcoin’s Dirty Secret. Can Cleanspark Clean It Up?
    TipRanks

    Tesla’s Elon Musk Reveals Bitcoin’s Dirty Secret. Can Cleanspark Clean It Up?

    Three months ago, Tesla (TSLA) CEO Elon Musk dropped a bombshell: Tesla would buy $1.5 billion worth of Bitcoin as an investment, and furthermore allow car buyers to use Bitcoin to buy their new Teslas from the company. Three months later... at least the second part of that is no longer true. "Cryptocurrency is a good idea on many levels," explained Musk, "and we believe it has a promising future, but this cannot come at a great cost to the environment." Accordingly, "Tesla has suspended vehicle purchases using Bitcoin [because] we are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel." As for Tesla's own $1.5 billion worth of Bitcoin, already purchased, "Tesla will not be selling any" of it. Furthermore, Tesla does still "intend" to permit car-buying with Bitcoin at some point in the future, once "mining transitions to more sustainable energy." In the meantime, the company is exploring allowing car buyers to use "other cryptocurrencies " (Dogecoin, anyone?) "that use <1% of Bitcoin's energy/transaction." Here's the problem in a nutshell: Bitcoin is created, and Bitcoin transactions are tracked, on computers that use electricity. As in... a lot of electricity -- on the order of 150 terawatt-hours annually. Researchers at Cambridge University estimate that creating Bitcoins and supporting Bitcoin transactions around the globe consumes roughly enough power annually to power "entire countries" the size of Argentina, Egypt, or Ireland. Globally, it's said that nearly 0.7% of all energy consumption is now devoted exclusively to Bitcoin mining and support. That's a lot of power, and when you consider that some of the easiest-to-produce power in most countries comes from burning coal ... well, you can see why a "green" advocate like Musk might see that as a problem. So what's the solution? Not all cryptocurrencies are as energy-hungry as Bitcoin. Ethereum, for example, is said to be working to make its operation more efficient. Stellar, Cardano, and Ripple cryptocurrencies are already believed to be a lot less energy-intensive than Bitcoin. As for cleaning up Bitcoin itself, H.C. Wainwright analyst Amit Dayal noted that one of his picks, energy software and control technology solutions provider CleanSpark (CLSK), is engaged in the mining of Bitcoins, and doing so "at 95% carbon-neutral levels, with ongoing efforts to approach 100% carbon-neutral levels." If true, this would put it well along a path to meet Musk's goal of allowing Bitcoin purchases of Teslas to resume at a level of "<1% of Bitcoin's [current] energy/transaction." With or without this catalyst, Dayal believes CleanSpark could grow its sales from $48.7 million to $381.8 million over the next nine years -- an annual growth rate of nearly 26%, with "positive annual EBITDA" arriving as early as this year. With a share price of $15 today, but a price target of $50, he's predicting that CleanSpark will turn into a three-bagger in under a year. (To watch Dayal's track record, click here) Judging from the consensus breakdown, it has been relatively quiet when it comes to other analyst activity. Over the last three months, only 2 analysts have reviewed CLSK. Both of which, however, were bullish, making the consensus a Moderate Buy. On top of this, the $47.50 average price target puts the upside potential at 214%. (See CLSK stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • CleanSpark Acquires Additional S19-Pro Bitcoin Mining Rigs to Further Enhance Energy Initiative
    PR Newswire

    CleanSpark Acquires Additional S19-Pro Bitcoin Mining Rigs to Further Enhance Energy Initiative

    CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or "the Company"), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, today announced the purchase of 2,400 additional S19-Pro rigs for delivery in the coming month to increase the overall hashrate efficiency of its mining fleet. The replacement of older-generation equipment is a strategic step in the Company's efforts to maximize energy efficiency in conjunction with its ESG focused approach to Bitcoin mining.

  • CleanSpark, Inc. Reports Quarterly Financial Results for the Quarter Ended March 31, 2021
    PR Newswire

    CleanSpark, Inc. Reports Quarterly Financial Results for the Quarter Ended March 31, 2021

    CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for the three and six months ended March 31, 2021.