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.
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