Maxim raised the firm’s price target on CleanSpark (CLSK) to $22 from $18 and keeps a Buy rating on the shares. The company’s Q2 results saw adjusted EBITDA and revenue come in below estimates, though the firm is citing the company preparing to diversify into AI infrastructure, the analyst tells investors in a research note. Near-term availability of power and a track record of expanding power access at existing sites differentiate CleanSpark as an AI datacenter developer while its competitors struggle under long power authority approval delays, the firm added.
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