Cantor Fitzgerald analyst Brett Knoblauch lowered the firm’s price target on CleanSpark (CLSK) to $23 from $24 and keeps an Overweight rating on the shares. CleanSpark mined 612 Bitcoin in October, down from 629 Bitcoin in September, and Cantor estimates CleanSpark generated $69.6M in Bitcoin mining revenue in October, down -2.5% month over month from $71.4M in September, the analyst tells investors in a research note. The firm lowered its price target citing the decline in value of CleanSpark’s Bitcoin position, partially offset by incorporating AI/HPC optionality into its valuation framework.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CLSK:
- CleanSpark announces October bitcoin mining update
- Crypto Currents: Bitcoin miners soar on Microsoft and Amazon AI deals
- CleanSpark price target raised to $24 from $20 at Bernstein
- Crypto Currents: Crypto firms report Q3 earnings
- Cleanspark Files Prospectus for Share Resale