CleanSpark (CLSK) is a $4 billion technology enterprise that call's itself "America's Bitcoin Miner."
I ran a year-to-date look at CLSK shares vs some other prominent miners. While CLSK is up nearly 20%, the big dog Marathon Digital (MARA) is flat for the year, despite their big Bitcoin acquisitions.
Meanwhile Iris Energy (IREN) is up over 90% while Riot Platforms (RIOT) is down over 20%.
Here's how CleanSpark describes their mission...
CleanSpark responsibly develops infrastructure for Bitcoin, an essential tool for financial independence and inclusion. We strive to leave the planet better than we found it by investing in communities that we operate in. Bitcoin is a watershed moment, not only in the history and invention of money, but in how we relate to each other.
Why CleanSpark is a Zacks #5 Rank
CLSK topline growth looks strong, with a projected jump this fiscal year (ends September) to $637 million for a 68% advance.
The problem is that the same analysts took down EPS estimates for the same period from +12 cents to -30 cents in the past two months.
I don't know all the details of why they made that move. But considering how revolutionary the Bitcoin mining business is becoming, there is definitely some re-modeling that Wall Street analysts must do with their revenue and profit projections.
The "spreadsheet jockeys" who also had to drop coverage of MicroStrategy (MSTR) because they couldn't figure it out, will be doing their homework over the coming quarters and finding their way back to Bitcoin-centric stocks.
To learn more, see my recent essay which explains the mania and the math over Bitcoin...
The Bitcoin Heist and Bailout: Cyber Manhattan
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MicroStrategy Incorporated (MSTR) : Free Stock Analysis Report
Marathon Digital Holdings, Inc. (MARA) : Free Stock Analysis Report
Riot Platforms, Inc. (RIOT) : Free Stock Analysis Report
Iris Energy Limited (IREN) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
