JPMorgan downgraded CleanSpark (CLSK) to Neutral from Overweight with a price target of $14, down from $15. The firm updated bitcoin miner ratings and price targets to reflect changes in bitcoin mining profitability, and upside from high performance compute colocation and cloud services. CleanSpark shares are fully pricing in the company’s recent expansion to 50 EH/s, and investors will likely need more clarity around its latest thinking on high performance compute to drive further upside from current levels, the analyst tells investors in a research note.
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