All these add to the long-term growth potential for bitcoin miners, including CleanSpark.ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. Also, the regulations will ensure that investors’ interests are protected and less fraud and manipulation occur. With a regulation for cryptocurrency markets coming into effect sooner or later, the volatility in the crypto market is expected to stabilize. The August bitcoin mining numbers prove that the company is making positive efforts to increase its hashrate and bitcoin mining capacity. Ending ThoughtsĬleanSpark is ranked among the top five publicly traded bitcoin miners in North America. TipRanks’ Stock Investors tool shows that investor sentiment is currently Neutral on CleanSpark, with 0.4% of portfolios tracked by TipRanks increasing their exposure to CLSK stock in the past seven days. On the other hand, retail investors are cautious about buying CleanSpark stock amid the uncertainty revolving around the bitcoin market. The average CleanSpark price forecast of $10.33 implies a massive 154.4% upside potential to current levels. On TipRanks, CLSK stock has a Strong Buy consensus rating based on three unanimous Buys. Is CleanSpark a Good Stock to Buy?Īnalysts are highly optimistic about CleanSpark. With its latest acquisition, CleanSpark now has three fully owned and operated facilities. Once all the 86MW of carbon-free power is fully operational at the site in 2023, it is expected to add 2.6 EH/s to CleanSpark’s hashrate. On August 19, CLSK completed the acquisition of an active bitcoin mining site in Washington, Georgia. CleanSpark Adds the Third Facility in Georgia Moreover, the company increased its full-year 2023 hashrate guidance to 22.4 EH/s. Nonetheless, the revenue increased significantly from $9.1 million in Q2FY21. Similarly, the revenue of $31.03 million came in lower than analysts’ estimate of $34.5 million. However, the loss was lower than the comparative prior year’s loss of $0.41 per share. The adjusted loss of $0.39 per share came in much higher than the analyst’s estimated loss of $0.15 per share. In its latest results for the third quarter ending in Fiscal 2022, CleanSpark missed both earnings and revenue expectations. CleanSpark generated proceeds of approximately $8.9 million from the sale of BTC in August. However, the average sale price of $23,088 per BTC was 11% higher than July’s average price per BTC. The company sold 388 bitcoins for growth and operations in August, down 9% from July 2022. A high hashrate implies that a machine can process more data in a single second.Īs of August 31, CleanSpark had total BTC holdings of 526. The higher the hashrate, the better it is. Simply put, it is the machine’s speed of mining and is measured in units of hash/second. Hashrate refers to a measure of the computational power per second used when mining. This was achieved by a fleet of over 36,800 latest-generation bitcoin miners. CleanSpark reached a record hashrate of 3.4 EH/s in August, jumping 19% from July 2022 and skyrocketing 331% over August 2021 figures. Notably, the company’s hashrate tripled over the last year to cross 3 EH/s (exahashes per second) in August. Similarly, year-to-date bitcoin mining totaled 2,642 bitcoin. The average daily bitcoin mining in August reached a high of 13.39. Robust Hashrate and Bitcoin Mining Statistics for AugustĬleanSpark mined 395 bitcoins in August 2022, jumping 109% over August 2021. So far this year, CLSK stock has lost 57.7%, amid plunging cryptocurrency prices. The company uses a sustainable energy mix including nuclear, hydroelectric, solar, and wind power for bitcoin mining. ( CLSK) is a sustainable bitcoin ( BTC-USD) mining and energy technology company.
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