Analyst Reaffirms CleanSpark Stock as ‘Buy’ with $27 Target Price!

CleanSpark, a leading Bitcoin mining firm, has received a renewed "buy" rating from H.C. Wainwright analyst Mike Colonnese, who set a target price of $27 for its shares. Despite mixed Q3 2024 results, Colonnese highlighted the company's 129% year-over-year revenue growth and its achievement of a 20 exahashes per second (EH/s) hashrate by June 2024. according to Crypto.

CleanSpark's expansion plans include reaching 32 EH/s by year-end, aided by the acquisition of GRIID Infrastructure, which will add over 400 megawatts of power. The company's $50 million credit deal with Coinbase also bolsters its growth potential. However, CleanSpark's stock has seen a recent pullback, down 13% in the past week and 30.9% in the past month. Despite this, the analyst remains optimistic, raising revenue estimates to $679 million for FY 2025, based on a projected Bitcoin price of $81,513. CleanSpark's consistent performance in exceeding guidance targets contributes to its positive outlook, even amid market volatility.#BTTcReward #MtGoxJulyRepayments #BinanceTurns7 #BlackRockETHOptions #CryptoMarketMoves $BTC $ETH $BNB

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