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LAS VEGAS - CleanSpark, Inc. (NASDAQ:CLSK), a prominent U.S.-based Bitcoin mining company with a market capitalization of $2.08 billion, reported significant growth in its mining operations for March 2025, according to a recent press release. InvestingPro analysis indicates the company is currently trading slightly below its Fair Value, suggesting potential upside opportunity. The company achieved a 13% increase in bitcoin production compared to the previous month, mining a total of 706 bitcoins. CleanSpark’s operational hashrate also saw a rise, reaching 42.4 exahash, marking a 4.2% month-over-month improvement.
The company’s bitcoin treasury has grown to 11,869, reflecting its strategic holding policy. In March, CleanSpark sold 14.23 bitcoins at an average price of approximately $87,742 per unit. The company’s impressive gross margin of 55.74% and revenue growth of 118.07% over the last twelve months underscore its operational efficiency. (InvestingPro subscribers have access to 10+ additional key metrics and insights about CleanSpark’s financial health.) Over the course of the month, the company maintained an average hashrate of 40.2 EH/s and fleet efficiency of 17.03 joules per terahash, allowing for an average daily production of 22.78 bitcoins, with a peak single-day production of 23.52 bitcoins.
CleanSpark’s CEO and President, Zach Bradford, highlighted the company’s commitment to operational excellence and scalable growth, noting the addition of nearly 2 exahash per second (EH/s) of computing power from new facilities in Wyoming during March. Despite the introduction of new tariffs that could increase industry-wide costs, Bradford expressed confidence in CleanSpark’s preparedness and competitive advantages, such as lower cost of capital and superior purchasing power, which he believes will allow the company to maintain its momentum and industry leadership.
The company is actively expanding its operations across multiple states, including Mississippi, Georgia, Wyoming, and Tennessee. These expansions are expected to contribute significantly to CleanSpark’s total hashrate, with upcoming projects in Tennessee alone projected to add nearly 4 EH/s. According to InvestingPro data, analysts anticipate continued sales growth this year, with the company maintaining strong liquidity ratios to support its expansion plans. For detailed analysis of CleanSpark’s growth prospects and financial health, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
CleanSpark operates a portfolio of mining facilities across the United States, leveraging competitive energy prices to optimize its mining operations. The company’s strategic approach to Bitcoin mining, focusing on energy efficiency and capital stewardship, aims to deliver superior returns to shareholders.
This article is based on a press release statement and presents the factual information regarding CleanSpark’s recent operational achievements and growth initiatives.
In other recent news, CleanSpark, Inc. has reported strong first-quarter earnings, with earnings per share (EPS) of $0.83, significantly surpassing analyst expectations of $0.17. The company’s revenue for the quarter reached $162.3 million, exceeding the consensus estimate of $153.06 million and marking a 120% increase from the previous year’s same quarter. CleanSpark’s net income rose to $246.8 million, a substantial increase from $25.9 million in the prior year, and its adjusted EBITDA increased to $321.6 million from $69.1 million year-over-year. Additionally, CleanSpark announced a nearly 6% increase in its bitcoin holdings, reaching a total of 11,177 bitcoins by the end of February. The company also highlighted operational advancements, including a 42% quarter-over-quarter increase in deployed hash rate and a 20% improvement in fleet efficiency. CleanSpark is set to join the S&P SmallCap 600 index, a move expected to enhance its visibility among investors. Furthermore, Cantor Fitzgerald adjusted its price target for CleanSpark to $17, maintaining an Overweight rating, citing confidence in the company’s strategic focus on Bitcoin mining. Lastly, at its recent Annual Meeting, CleanSpark shareholders elected six directors and approved executive compensation, reflecting support for the company’s leadership and direction.
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