Another Bitcoin Mining Stock Winner: CLSK Surges 66.53% Profit in Only 1 Week

Apr 17, 20237 min read

CLSK stock recommendation yields an impressive 66.53% profit in only 1 week's time, credited to the expansion of CleanSpark's mining capacity by purchasing the Antminer S19 XP units.

By analyzing massive volumes of data, finding patterns, and spotting trends in real-time, AI-powered technologies help investors make wise judgments. Our AI-driven analytics recently recognized CleanSpark, Inc. (CLSK) stock potential and suggested it to investors. CleanSpark is a cutting-edge technology company, with its headquarters situated in San Diego, California. The company is primarily focused on developing advanced software solutions that cater to energy management systems. The innovative technological solutions provided by the company ensure that customers can manage their energy resources effectively and in an environmentally sustainable manner. The company is actively engaged in doing business with various energy-related industries, including utility companies, commercial, and industrial clients. CLSK's financial performance, industry standing, and future prospects are highly promising. The company's innovative technology solutions, combined with its commitment to environmental sustainability, place it in a strategic position for growth in the energy sector.

CleanSpark is taking a strategic approach to mining bitcoin by utilizing low-carbon energy sources and selling a portion of its mined bitcoins to reinvest in growth. This balanced capital management strategy, coupled with the company's proprietary mining model, has been successful in allowing CleanSpark to achieve one of the highest hashrate realization rates among its peers. Overall, CleanSpark's Q1 2023 Bitcoin mining results are impressive, with the company continuing to grow and expand its operations. The company's focus on proprietary mining and careful management of resources has enabled them to maintain profitability even in a challenging environment.

As a result, our AI analytics recognized this and in only 1-week, our CLSK recommendation resulted in an outstanding 66.53 % return on investment (ROI), highlighting the importance of AI in producing effective investment decisions. We are providing a momentary chance to benefit from the power of AI analytics with a no-obligation 7-day free trial for the Top 5 Starter Kit. This company CLSK has been recently recommended several times over and over again in several time horizons. For the 1 week time horizon, CLSK was the number 4 stock pick on April 4th, 2023. as well as the number 6th stock pick on April 6th. This is one of the advantages of having a larger forecast, as it allows you to follow the AI prediction trends with more certainty.

Our main goal at growthtech.ai is to use artificial intelligence to create a trustworthy stock analysis platform. To find interesting stocks, our platform uses a data-driven methodology that prioritizes earnings predictions and estimate revisions. In addition to adhering to this strategy, we closely monitor the most recent value, growth, and momentum trends to identify the most promising investment possibilities . Value investing is the most well-liked of these trends since it has a track record of success in a variety of market circumstances. To find equities with a high likelihood of long-term growth, investors employ a range of techniques, including tried-and-true valuation criteria.

Our cutting-edge stock prediction system uses cutting-edge AI algorithms to pinpoint stocks with particular characteristics that value investors will find interesting. Our approach is built to identify long-term bullish situations, assisting investors in choosing the ideal time to make an investment. One of the best-value stocks on the market right now is one of our most recent recommendations. Recently, our AI-powered predictions also found another crypto-related stock winner called RIOT, which also is in the business of mining this precious cryptocurrency called bitcoin. You can read about that very recent winning stock prediction here: "RIOT Stock Prediction Yields 20.71% ROI in Just One Week."

AI-Powered Stock Prediction for CLSK

The emergence of artificial intelligence (AI) has caused a great deal of disruption across almost every industry including the financial sector. In the contemporary digital era, the potential of artificial intelligence (AI) to give real-time information has totally transformed the investment sector. Using AI-powered tools, investors may review massive amounts of data, identify patterns and trends, and make informed decisions in real-time. Below is the signal for the stock pick CLSK for the one-week stock projection on April 6th, 2023.

The opening price on the date of the forecast was $2.48 and closed at $4.13 making a rounded profit of 70% for subscribers which is outstanding for a 1 week's ROI.

Utilizing stock forecasting software has a number of benefits, one of which is its capacity to continuously and impartially analyze a wide range of assets. Big data analytics can help us improve decision-making, forecasting, outcome modeling, and market comprehension by working together with our AI prediction system, referred to as a Decision Support System (DSS). Its purpose is to support you in making decisions with more accuracy, speed, objectivity, and adaptability. However, instead of serving as your single deciding factor, these signals should be used as a powerful instrument to significantly shorten the time it takes to identify new market opportunities.

For the 1-week time frame, this stock's prediction for CLSK Signal Confidence (SC) is 37%. Along with AI-based stock recommendations, the stock prediction system offers SC to assist you to evaluate the likelihood that each prediction will be correct. Shorter-term forecasts might be helpful for identifying patterns even though they increase risk. The AI engine considers current market conditions affecting stock prices as well as the accuracy of previous financial forecasts when computing the SC. Longer-term projections typically have a higher SC and are more precise.

Remember that this is a very powerful technology that has had a tremendous amount of success however, past outcomes are not always indicative of future yields. Take note that these Ai-powered stock predictions do not take into account elements like your trading background, individual aims, and ambitions, financial situation, or risk tolerance. So for example, here the AI is recommending CLSK, and now you would do your own due diligence to come to your own conclusions based on your own personal considerations.

March Bitcoin Mining Operational Results

The company has reported mining 598 bitcoins in the month of March, bringing the total number of bitcoins mined in Q1 2023 to 1,871. This represents a significant 22% increase from the prior quarter. The company's 50MW Washington expansion is also on schedule, with machines already purchased and shipping expected to commence this month. CleanSpark's proprietary mining approach has given them substantial control and flexibility over their destiny. The company expects to increase its hashrate to about 8.7 EH/s once the expansion is energized, which will help them achieve its calendar year-end goal of 16 EH/s. In this environment, a miner that is not growing is falling behind, and as hashrate grows, so must the company. CleanSpark intends to use all capital levers available to them, including equity and Bitcoin, to provide the highest rate of return for shareholders.

CleanSpark's March Bitcoin mining update reveals impressive numbers. The company mined 598 bitcoins in March and a total of 1,871 bitcoins in Q1 2023. The company currently has a fleet of about 67,700 latest-generation Bitcoin miners with a hashrate of 6.7 EH/s. The company funded growth and operations through the sale of 502 bitcoins in March 2023 at an average of approximately $24,800 per BTC. Sales of BTC equated to proceeds of approximately $12.4 million.

CleanSpark's Bitcoin mining operations have been profitable due to the company's careful management of resources. The company has a total of 196 BTC holdings as of March 31, which they have been using for operations and growth. The company's daily BTC mined in March averaged 19.29 and reached a high of 20.25.

CLSK Recent Investment in Improved Mining Capacity

This leading Bitcoin mining company CleanSpark has recently announced a significant expansion of its mining capacity. The company has purchased 45,000 units of the Antminer S19 XP bitcoin mining machines for a total price of $144.9 million. These machines are expected to add over 6.3 exahashes per second (EH/s) of computing power to CleanSpark's current hashrate of 6.7 EH/s, resulting in a 95% increase. All units are expected to be ready for delivery by the manufacturer before September end. CleanSpark's CEO, Zach Bradford, highlighted that the Antminer S19 XP is the most power-efficient bitcoin mining machine available in the market today and a key component in the company's efforts to build some of the most efficient bitcoin mining facilities in the country.

“As bitcoin’s halving draws closer, our focus on operational efficiency, our technical expertise, and our treasury management strategy, will all play a crucial role in solidifying CleanSpark’s position among the top bitcoin mining companies in America.”

- Zach Bradford, CEO of Cleanspark

The company plans to deploy all the acquired units at its bitcoin mining facility in Sandersville, Georgia, which is currently undergoing a planned 150-megawatt expansion. The machines will be deployed in multiple batches as they arrive on site, and new rack-space becomes available, with all machines expected to be fully operational before year-end. This expansion is in addition to the 20,000 machine purchase announced by the company in February, which is fully paid for and in the process of being delivered to the Company's Washington facility. They are expected to be energized later this quarter, adding an additional 2.44 EH/s of machines to CleanSpark's operational hashrate. With the recent purchase of the Antminer S19 XP units, CleanSpark now has approximately 15.9 EH/s of machines on hand or under contract for delivery this year, edging closer to its year-end guidance of 16 EH/s.

CleanSpark has demonstrated a balanced capital management strategy by selling a portion of its mined bitcoins to reinvest in growth. This strategy, coupled with the company's proprietary mining model, has allowed CleanSpark to achieve one of the highest hashrate realization rates among its peers since January 2022. The company mines bitcoin predominantly with low-carbon energy sources, which account for over 90% of its energy mix. CleanSpark's CFO, Gary Vecchiarelli, emphasized that this recent miner purchase, in addition to securing the majority of ASICs needed to reach their guidance, demonstrates the company's ability to make timely purchases based on ROI metrics. This ability is premised on a capital strategy that maintains flexibility as its core tenant and allows CleanSpark to capitalize on accretive opportunities in the marketplace.

If you are wondering whether there is still a large enough potential profit margin to buy CLSK stock now then you should consider subscribing to growthtech.ai right now.