CleanSpark Earnings Set to Test Bitcoin Margin Amid AI Pivot
CleanSpark, a miner of Bitcoin, is set to report its fiscal fourth-quarter results after market close on Thursday. The company's pivot towards AI data center infrastructure will be under scrutiny as investors await the first earnings since the announcement.
Analysts expect a loss of 35 cents per share on revenue of $155.36 million for the quarter ended June 30, which would mark a sequential improvement from the prior quarter's $1.52-per-share loss and $136.4 million in revenue.
Despite near-term headwinds, Wall Street remains bullish on CleanSpark. All 13 analysts covering the stock rate it a buy, with a mean price target of $23.73, implying 76% upside from the current $13.50 share price.
The company's strategic evolution tops the agenda, particularly its 20-year triple-net lease with a top-tier global technology tenant at its Sandersville, Georgia campus, which will generate approximately $6.6 billion of contracted revenue starting in 2027.