Maxim Group analyst Matthew Galinko has maintained their bullish stance on CLSK stock, giving a Buy rating yesterday.
Meet Samuel – Your Personal Investing Prophet
High conviction CLSK bulls now have this Tradr ETFMatthew Galinko has given his Buy rating due to a combination of factors tied to both Cleanspark’s current operations and its strategic transition. He acknowledges that the latest quarterly results came in below his and the Street’s expectations, largely due to weaker network share and recent pressure on Bitcoin prices. However, he views the company’s sizeable and growing contracted power capacity—now approaching 1.8 GW, including a newly acquired 285 MW Texas site and the Brazoria County land with up to 600 MW potential—as a key differentiator that positions Cleanspark to capitalize on rising demand for AI data center infrastructure. He highlights that the near-term availability of this power, while competitors face lengthy power build-out timelines, strengthens the company’s competitive edge.
Galinko also points to the company’s substantial Bitcoin holdings of more than 13,500 BTC and associated options strategies as an important source of balance sheet strength and incremental income. While he reduces his forward estimates and trims his 12‑month price target to $18 to reflect the lower assumed Bitcoin price, he still sees meaningful upside from the current share price. His valuation framework combines a revenue multiple on the core Bitcoin mining business with an added component for the emerging AI infrastructure pipeline and net cash/BTC value, which together support the continued Buy recommendation. Overall, he believes that Cleanspark’s strategic pivot toward AI infrastructure, backed by tangible power assets and a sizable digital asset base, outweighs near-term earnings volatility tied to Bitcoin price swings.
According to TipRanks, Galinko is a 5-star analyst with an average return of 20.4% and a 41.25% success rate. Galinko covers the Technology sector, focusing on stocks such as Ondas Holdings, Strategy, and Adeia.
In another report released yesterday, Macquarie also maintained a Buy rating on the stock with a $18.00 price target.