H.C. Wainwright reiterates a Buy rating on CleanSpark (CLSK) with a $30 price target after the company announced the acquisition of a 271-acre site in Austin County, Texas, and executed long-term power agreements totaling 285 MW to develop an artificial intelligence data center. The firm believes the site in Texas could unlock over $3.8B of shareholder value by 2027. “We are not surprised to see the stock outperform today on the bullish announcement,” the analyst tells investors in a research note. H.C. Wainwright views the news as a “major step forward” in CleanSpark’s AI data center strategy. The stock in morning trading is up 1% to $19.43.
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Read More on CLSK:
- CleanSpark Expands with Texas Data Center Acquisition
- CleanSpark acquires 271 acres in Austin and executes power supply agreements
- CleanSpark price target raised to $30 from $25 at H.C. Wainwright
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