Needham starts coverage on CleanSpark on growth potential

Investing.com

02-13

Investing.com -- Needham initiated coverage of bitcoin miner CleanSpark Inc (NASDAQ:CLSK) with a "Buy" rating and a $20 price target, citing the company’s strong operational efficiency, attractive valuation, and solid balance sheet.

CleanSpark, the second-largest bitcoin miner by hash rate, is expected to expand its capacity to 50 exahashes per second (EH/s) by the second quarter of 2025 and 63 EH/s by mid-2026, Needham noted. The firm highlighted CleanSpark's low general and administrative costs per EH and projected increasing operational leverage as capacity scales.

Needham also pointed to CleanSpark's valuation discount relative to peers, which it expects to narrow as the company reduces reliance on equity issuance. With approximately $660 million in net cash and bitcoin holdings, CleanSpark has financial flexibility to grow while potentially generating additional returns from its BTC stack.

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The firm highlighted CleanSpark's low general and administrative costs per EH and projected increasing operational leverage as capacity scales.</p>\n<p>Needham also pointed to CleanSpark's valuation discount relative to peers, which it expects to narrow as the company reduces reliance on equity issuance. With approximately $660 million in net cash and bitcoin holdings, CleanSpark has financial flexibility to grow while potentially generating additional returns from its BTC stack.</p>\n<p>Related Articles</p>\n<p>Needham starts coverage on CleanSpark on growth potential</p>\n<p>Surge in cost of trading coffee heats up record price rally</p>\n<p>Republican senators call for $1,000 tax on new EV sales to pay for road repairs</p>\n<div class=\"bt-text\">\n<p> 來源：<a href=\"https://finance.yahoo.com/news/needham-starts-coverage-cleanspark-growth-174631943.html\">Investing.com</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4516","symbol_name":"特朗普概念","start_time":0,"source_url":"https://finance.yahoo.com/news/needham-starts-coverage-cleanspark-growth-174631943.html","article_id":"2511588003","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2511588003","pubTimestamp":1739382391,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Investing.com --Needham initiated coverage of bitcoin miner CleanSpark Inc  with a \"Buy\" rating and a $20 price target, citing the company’s strong operational efficiency, attractive valuation, and solid balance sheet.CleanSpark, the second-largest bitcoin miner by hash rate, is expected to expand its capacity to 50 exahashes per second  by the second quarter of 2025 and 63 EH/s by mid-2026, Needham noted. The firm highlighted CleanSpark's low general and administrative costs per EH and projected increasing operational leverage as capacity scales.Needham also pointed to CleanSpark's valuation discount relative to peers, which it expects to narrow as the company reduces reliance on equity issuance. With approximately $660 million in net cash and bitcoin holdings, CleanSpark has financial flexibility to grow while potentially generating additional returns from its BTC stack.Surge in cost of trading coffee heats up record price rally. Republican senators call for $1,000 tax on new EV sale","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4516":"特朗普概念","BK4588":"碎股","BK4595":"比特币概念","BK4023":"应用软件","CLSK":"CleanSpark, Inc.","BK4600":"加密货币概念","BK4608":"AI应用概念股","CLSKW":"CLEANSPARK INC C/WTS 29/12/2028 (TO PUR COM)","BK4585":"ETF&股票定投概念"},"translate_title":"Needham开始报道CleanSpark的增长潜力","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLSK":1,"CLSKW":0.9},"content_text":"Investing.com -- Needham initiated coverage of bitcoin miner CleanSpark Inc (NASDAQ:CLSK) with a \"Buy\" rating and a $20 price target, citing the company’s strong operational efficiency, attractive valuation, and solid balance sheet.\nCleanSpark, the second-largest bitcoin miner by hash rate, is expected to expand its capacity to 50 exahashes per second (EH/s) by the second quarter of 2025 and 63 EH/s by mid-2026, Needham noted. The firm highlighted CleanSpark's low general and administrative costs per EH and projected increasing operational leverage as capacity scales.\nNeedham also pointed to CleanSpark's valuation discount relative to peers, which it expects to narrow as the company reduces reliance on equity issuance. With approximately $660 million in net cash and bitcoin holdings, CleanSpark has financial flexibility to grow while potentially generating additional returns from its BTC stack.\nRelated Articles\nNeedham starts coverage on CleanSpark on growth potential\nSurge in cost of trading coffee heats up record price rally\nRepublican senators call for $1,000 tax on new EV sales to pay for road repairs","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0}}}