Chardan lowered the firm’s price target on CleanSpark (CLSK) to $20 from $26 and keeps a Buy rating on the shares following a transfer of coverage. The firm believes the company “has a great deal of financial strength and flexibility” and will be able to self-fund its mining operations and expansion with the sale of mined bitcoins and still grow its bitcoin holdings. The shares are off over 50% from their 52-week high and trade at the low-end of the peer group, the analyst tells investors in a research note.
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