{"id":19739,"date":"2023-04-11T19:41:00","date_gmt":"2023-04-11T19:41:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miner-stock-cleanspark-has-upside-to-12-analyst-say\/"},"modified":"2023-04-11T19:41:00","modified_gmt":"2023-04-11T19:41:00","slug":"bitcoin-miner-stock-cleanspark-has-upside-to-12-analyst-say","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miner-stock-cleanspark-has-upside-to-12-analyst-say\/","title":{"rendered":"Bitcoin miner stock CleanSpark has upside to $12, analyst say"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/Xd-YLIbM-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/Xd-YLIbM-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/Xd-YLIbM-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/Xd-YLIbM-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>H.C. Wainwright reiterates CleanSpark Inc its top pick for 2023.<\/li>\n<li>Analyst Mike Colonnese explained why in a research note today.<\/li>\n<li>CleanSpark stock is already up more than 50% for the year.<\/li>\n<\/ul>\n<p>Shares of CleanSpark Inc (NASDAQ: CLSK) are up nearly 15% this morning after an H.C. Wainwright analyst named the bitcoin miner his top pick for 2023.<\/p>\n<h2>CleanSpark stock could quadruple from here<\/h2>\n<p>On Tuesday, Mike Colonnese reiterated his \u201cbuy\u201d rating on the crypto company and said its shares could climb to $12 \u2013 about a 300% upside from here.<\/p>\n<p>The bullish call on Clean Spark stock arrives only hours after it <a href=\"https:\/\/www.coindesk.com\/business\/2023\/04\/11\/cleanspark-buys-1449m-of-bitcoin-mining-rigs-to-double-its-hashrate\/?outputType=amp\" target=\"_blank\" rel=\"noopener\">revealed<\/a> to have bought 45,000 new Antminer S19 XPs from Bitmain for about $145 million.<\/p>\n<blockquote>\n<p>CLSK secured machines for a very attractive $23\/TH, the lowest we\u2019ve seen for these rigs, and 12% below the going rate for high efficiency ASICs based on Luxor\u2019s Bitcoin ASIC Price Index.<\/p>\n<\/blockquote>\n<p>With this purchase, the analyst added, CleanSpark will be able to improve its hash rate to 16 EH\/s in line with the company\u2019s year-end target.<\/p>\n<h2>CleanSpark stock is significantly undervalued<\/h2>\n<p>CleanSpark is expected to report its Q2 financial results next month. Consensus is for it to lose 37 cents a share this quarter versus 5 cents of EPS a year ago.<\/p>\n<p>For the year, CleanSpark stock is up more than 50% at writing. Still, Colonnese is convinced that it\u2019s significantly undervalued. His <a href=\"https:\/\/hcwco.bluematrix.com\/sellside\/EmailDocViewer?encrypt=a087daff-366c-4907-80b9-5ca0a62636f7&amp;mime=pdf&amp;co=Hcwco&amp;id=jayson.derrick@investoogroup.com&amp;source=mail\" target=\"_blank\" rel=\"noopener\">research note<\/a> reads:<\/p>\n<blockquote>\n<p>It\u2019s trading at 46% discount to peers on market cap to deployed hash rate, which we view as unwarranted. Today\u2019s announcement should give investors more visibility and conviction into CLSK.<\/p>\n<\/blockquote>\n<p>In terms of fleet efficiency, CleanSpark is ahead of everyone else in the industry following today\u2019s deal with Bitmain, the analyst concluded.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/buy-bitcoin-miner-stock-cleanspark-h-c-wainwright\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) H.C. Wainwright reiterates CleanSpark Inc its top pick for 2023. Analyst Mike Colonnese explained why in a research note today. CleanSpark stock is already up more than 50% for the year. Shares of CleanSpark Inc (NASDAQ: CLSK) are up nearly 15% this morning [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":19740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19739"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19739"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19740"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}