CleanSpark Stock Falls, Then Bounces Back: What's Happening?

CleanSpark Inc (NASDAQ:CLSK) shares are trending Wednesday on the heels of the company’s fourth-quarter financial results. Here’s everything you need to know.

• CLSK shares are advancing steadily. Track the latest developments here.

What Happened: CleanSpark reported fourth-quarter revenue of $223.65 million, missing analyst estimates of $236.97 million, according to Benzinga Pro. The Bitcoin miner said fiscal 2025 revenue totaled $766.3 million, up from $379 million last year.

CleanSpark reported a fourth-quarter loss of 1 cent per share, missing estimates for positive earnings of 38 cents per share. On a full-year basis, the company posted earnings of $1.25 per share, improved from a loss of 69 cents per share in the prior year.

CleanSpark said it had $1.2 billion in Bitcoin as of Sept. 30. The company also highlighted 43% growth in contracted power, setting the stage for its planned AI expansion.

"We are evolving into a comprehensive compute platform that is prepared to optimize value from both AI and bitcoin workloads,” said Matt Schultz, chairman and CEO of CleanSpark.

CleanSpark shares initially popped on the report before pulling back and settling lower. The stock has turned positive again Wednesday morning. Following the company’s report, multiple analysts maintained Buy ratings and updated price targets well above current levels, which appears to be sparking some momentum.

Needham analyst John Todaro maintained CleanSpark with a Buy and raised the price target from $23 to $25. Chardan Capital maintained a Buy and kept a price target of $30, while HC Wainwright & Co. lowered its target from $30 to $27, but also stuck to a Buy rating.

CLSK Price Action: CleanSpark shares were up 2.88%, trading at $12.16 at the time of publication, per Benzinga Pro.

Read Next:

• CleanSpark Executive Says Company Will Keep Buying Bitcoin But Is ‘Very Strategic’ About It: ‘We’re Not Ideological’

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