Bitcoin Miner CleanSpark Has ‘Solid, Albeit Relatively Quiet’ Quarter, Ready For Growth, Says Analyst
CleanSpark Inc (NASDAQ:CLSK) shares were down on Tuesday, even after the company reported upbeat fourth-quarter results.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
HC Wainwright On CleanSpark
Analyst Mike Colonnese reiterated a Buy rating and price target of $27.
CleanSpark, a Bitcoin mining company that offers investors “pure-play exposure” to the world’s largest crypto, reported “solid” results for the fourth quarter and fiscal 2024, Colonnese said in a note.
“FY2024 was another strong year of execution for CLSK,” with the company growing total deployed capacity by 187% year-on-year to 27.6 EH/s at the end of September versus an average of around 75% for its peers, the analyst stated. CleanSpark also improved its overall fleet efficiency …