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crypto.news 2025-01-28 21:24:00

CleanSpark celebrates growth at investor day, analysts reiterate ‘buy’ rating

CleanSpark is a strong buy and ‘top option’ for investors this year, according to a report by H.C. Wainwright & Co. CleanSpark, a Bitcoin ( BTC ) mining company, hosted an investor day in New York City on January 27, celebrating its fifth anniversary on the Nasdaq. The company, which entered the Bitcoin mining sector in December 2020, has grown rapidly into a leading player in the industry, leveraging its expertise in energy and microgrid development, according to an H.C. Wainwright note shared with crypto.news. During the event, CleanSpark’s management outlined its key strategy for success, which includes a counter-cyclical investment approach—expanding during market downturns—and focusing on rural communities with access to low-cost energy. Currently, CleanSpark operates 31 data centers with over 900 megawatts of contracted power and a deployed hash rate of 39 exahashes per second (EH/s), a critical metric for Bitcoin mining capacity, according to H.C. Wainwright analysts. CleanSpark ranks in the top three among its peers in metrics like hash rate , Bitcoin production, and operational efficiency. You might also like: Ripple case present on SEC site despite speculation CleanSpark’s ‘buy’ rating Looking ahead, the company reiterated its goal of reaching 50 EH/s by mid-2025, a milestone achieved by only one other publicly traded North American miner. CleanSpark’s leadership highlighted steps to meet this target, including recent funding through a $650 million convertible note issuance, development projects in Tennessee and Wyoming, and favorable deals for mining equipment. With a stock price target of $27, analysts see CleanSpark as a strong option for investors seeking exposure to Bitcoin’s potential upside. Cleanspark’s stock is currently trading at $10.25 at the time of writing. You might also like: Investors’ ultimate bull run guide to navigate the 2025 crypto explosion

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