Clean Spark, Inc. (NASDAQ:CLSK) recently shared its unaudited update on bitcoin mining and activity for the month ended June 30, 2023. Remarkably, the company managed to mine a total of 1,624 bitcoins in this quarter, proving their impressive capabilities in the crypto space. What’s even more impressive is that their bitcoin holdings have grown by a whopping 170% quarter after quarter.
To drive their growth and business, CleanSpark, Inc. in June 2023 a strategic move. They decided to sell 413 bitcoins at an average price of about $27,200 per BTC, resulting in revenue of about $11.2 million. This move not only helped them secure the necessary funds, but also showed their astute business acumen.
Throughout June, CleanSpark, Inc. a consistent mining rate, averaging 16.4 bitcoins per day. At their peak, they even reached an impressive daily mining rate of 17.4 bitcoins. This level of productivity highlights their commitment to staying ahead of the curve in the ever-evolving cryptocurrency industry.
The July 3, 2023 update from CleanSpark, Inc. undoubtedly shows their remarkable progress and success in the bitcoin mining sector. With their significant growth in bitcoin holdings and consistent mining rates, it is clear that they are poised for continued success in the future.
Clean Spark, Inc.
Updated on: 03/07/2023
9:00 am (UTC)
Date: July 3, 2023
Reviews from analysts
|Analyst / firm||Judgement|
CLSK Stock Analysis: Mixed Performance and Declining Earnings Growth for CleanSpark, Inc.
On July 3, 2023, CLSK (CleanSpark, Inc.) stock showed mixed performance, with price swings throughout the trading day. The stock opened at $4.37, slightly higher than the previous day’s close of $4.30. Throughout the day, the stock price fluctuated between a low of $4.34 and a high of $4.76. Trading volume for the day was 73,556 shares, significantly lower than the average volume of 7,418,098 shares over the past three months.
Clean Spark, Inc. has a market cap of $483.4 million. The company’s financials show a decline in earnings growth over the past year, with a drop of 81.16%. In addition, earnings growth for this year has fallen significantly at 182.48%.
Despite the decline in earnings growth, CleanSpark, Inc. experienced a substantial increase in sales growth over the past year, with a growth rate of 166.04%.
The P/E ratio for CleanSpark, Inc. is not available (NM). The price/sales ratio is 1.03, indicating that the stock is trading at a relatively low multiple of annual turnover. The price-to-book ratio is 0.59, suggesting that the stock may be undervalued by book value.
Clean Spark, Inc. is active in the technology services sector, in particular in the data processing services sector. The company’s headquarters is located in Henderson, Nevada.
Looking ahead, CleanSpark, Inc. reporting its next earnings on August 8, 2023. The current EPS forecast for this quarter is -$0.27, indicating a potential loss for the company. In the previous year, CleanSpark, Inc. annual revenue of $131.5 million, with a net loss of -$57.3 million. The net profit margin for the company is -30.48%.
Investors should closely monitor the company’s financial performance and future earnings reports to make informed investment decisions.
CleanSpark Inc (CLSK) stock shows promising performance: potential growth and positive analyst ratings
On July 3, 2023, CleanSpark Inc (CLSK) stock showed promising performance based on the information provided by CNN Money. The company had four analysts offer 12-month price forecasts, with a median target of $7.00. The high estimate was $12.00, while the low estimate was $6.00. This indicates a potential increase of 51.19% from the last recorded price of $4.63.
The consensus among the four investment analysts surveyed was to buy shares of CleanSpark Inc. to buy. This rating has remained stable since February, indicating continued positive sentiment about the company’s outlook. Investors seem confident in the future growth and potential of CleanSpark Inc.
CleanSpark Inc’s earnings per share in the current quarter were -$0.27, indicating a loss for the company. However, keep in mind that earnings per share can fluctuate from quarter to quarter and it’s important to assess the company’s performance over a longer period of time.
In terms of sales, CleanSpark Inc reported revenue of $51.8 million for the current quarter. This indicates that the company is generating revenue and potentially growing its business.
Investors should keep an eye out for CleanSpark Inc’s upcoming reporting date, which is scheduled for August 8. This report can provide more insight into the company’s financial performance and future prospects.
In conclusion, based on the information provided, the stock performance of CleanSpark Inc as of July 3, 2023 appeared promising. The positive price forecasts, buy recommendations from analysts and reported sales indicate potential growth for the company. However, investors should conduct further research and consider additional factors before making investment decisions.