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LAS VEGAS - CleanSpark, Inc. (NASDAQ:CLSK), a bitcoin mining company with a market capitalization of $4.26 billion and impressive revenue growth of 85% over the last twelve months, announced it has grown its bitcoin holdings to over 13,000 BTC while achieving year-over-year increases of more than 27% in monthly production and 26% in fleet efficiency, according to an unaudited update released Friday. InvestingPro analysis shows the company maintains strong financial health with a current ratio of 4.37, indicating robust liquidity management.
The company produced 629 bitcoin in September with an average daily production of 20.95 BTC. CleanSpark’s operational hashrate reached 50.0 EH/s, with an average operating hashrate of 45.6 EH/s for the month. This operational excellence has contributed to the company’s strong market performance, with the stock delivering a return of 104% over the past six months according to InvestingPro data.
The fiscal year 2025 marked significant developments for the bitcoin mining company, including the expansion of its Bitcoin-backed credit line by $200 million in capacity and several key leadership appointments. CEO Matt Schultz, who was promoted as part of a leadership restructuring, stated the company is positioned "to thrive at the intersection of energy, Bitcoin, and compute."
CleanSpark reported it became the first publicly traded Bitcoin miner to achieve hashrate milestones of 30 EH/s in October 2024 and 50 EH/s in June 2025 using fully self-operated data centers. The company also expanded regionally through the acquisition of GRIID Infrastructure, adding mining sites and a development pipeline in Tennessee.
To support growth initiatives, CleanSpark executed multiple financing transactions during the fiscal year, including a $650 million convertible note offering with a 0% interest rate in December 2024 and secured $400 million in Bitcoin-backed credit facilities.
As of September 30, the company had 241,934 miners deployed with a peak efficiency rate of 16.07 J/Th. CleanSpark sold approximately 445 bitcoin during the month at an average price of $109,568, generating proceeds of about $48.8 million.
The information is based on a press release statement from the company.
In other recent news, CleanSpark Inc. has made significant strides in its financial and operational strategies. The company announced the expansion of its Bitcoin-backed credit facility with Coinbase Prime by $100 million, bringing its total collateralized lending facilities to $400 million. This additional financing is set to support strategic capital expenditures, including scaling CleanSpark’s Bitcoin mining operations and enhancing its energy portfolio. Additionally, CleanSpark secured another $100 million Bitcoin-backed credit facility with Two Prime, further bolstering its capital strategy.
On the analyst front, JPMorgan has downgraded CleanSpark’s stock rating from Overweight to Neutral, citing valuation concerns and adjusting the price target to $14.00 from $15.00. This move reflects a cautious stance on the company’s current market valuation. In leadership developments, CleanSpark announced a strategic realignment with four key executive promotions. Gary A. Vecchiarelli has been appointed President while retaining his role as Chief Financial Officer, and Scott Garrison has transitioned to Chief Development Officer and Executive Vice President. These changes are aimed at enhancing infrastructure expansion and strategic data center development.
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