CleanSpark Stock Soars on $6.6B Lease Deal and Shift Away from Bitcoin Mining

CleanSpark Inc.'s stock has been trading up by 8.21% after upbeat coverage of its expanding Bitcoin mining operations.

The company's 20-year triple-net lease at its Sandersville, GA campus is expected to generate $6.6B in contracted revenue, or $11.6B with extensions, at nearly 100% NOI margins from Q4 2027.

Although the company posted a large EPS beat of -$0.89 versus -$0.33 expected in its recent Q3 report, its gross margin remains near 14.9%, and net margins are deeply negative.

CleanSpark is steering towards a diversified digital infrastructure platform focused on grid-connected power assets and commercialization options, away from pure bitcoin mining exposure.