CleanSpark solidifies position as large bitcoin miner, says H.C. Wainwright

H.C. Wainwright reiterates a Buy rating on CleanSpark with a $14 price target after the company entered into purchase agreements with Bitmain to purchase up to 160,000 S21 model miners with a combined 32 EH/s of total computing power. The firm, which says this is one of the largest purchase agreements it has seen to date, feels the terms of the deal are favorable to CleanSpark. The company’s position as one of the largest and most efficient bitcoin miners is now further solidified, the analyst tells investors in a research note. The firm reiterates CleanSpark as a top pick for 2024.