However, it remains primarily an energy company that provides technology solutions for microgrids. Get all the CLSK ratings here.ĬLSK has continued to procure and deploy mining equipment as part of its strategic growth initiative. Of the 107 stocks in the D-rated Software – Application industry, CLSK is ranked #101.īeyond what I stated above, we also have given CLSK grades for Growth, Momentum, Sentiment, and Quality. Among these categories, CLSK has a Value Grade of F, consistent with its higher-than-industry valuation multiples.ĬLSK has a grade of F for Stability as well, indicating that the stock is highly volatile compared to its peers. Our proprietary rating system also evaluates each stock based on eight different categories. The POWR Ratings are calculated by considering 118 different factors with each factor weighted to an optimal degree. Further, Culper Research report alleges that CLSK “appears to have purchased the side business of its CFO, with zero relevance to the company’s supposed clean energy mission.” The Culper Research report shocked the market and shares of CLSK fell by approximately 9.2% on the report’s publication date last month.ĬLSK has an overall rating of F, which equates to Strong Sell in our POWR Ratings system. According to the lawsuit’s allegations, CLSK has “fabricated key elements of its business, including purported customers and contract figures.” The company is also “rife with undisclosed related party transactions” with respect to its February 2020 acquisition of p2k Labs, Inc. It expects to have more than 315 PH/s of Bitcoin mining capacity deployed by the end of this month, representing a greater than 65% increase in capacity.ĬLSK has been targeted by short sellers in recent weeks, with Culper Research accusing the company of fraudulent reports. But the company noted that it has continued to procure and deploy mining equipment as part of its strategic growth initiative. ATL Data centers owned and operated a fleet of Bitcoin miners producing over 200 PH/s in mining capacity at the time of acquisition. Let’s take a closer look at the factors that could influence CLSK’s performance in the near term:ĬLSK recently issued a 60-day post-acquisition update on its Bitcoin mining operations. The company recently entered the Bitcoin business with the acquisition of ATL Data Centers, a Mining as a Service (MaaS) company. ( CLSK), an energy software and control technology company is an example. This has sparked increased interest from players in different industries in expanding into Bitcoin mining operations.ĬleanSpark, Inc. ![]() ![]() Investors are now considering factoring cryptocurrencies into their asset allocations to hedge against inflation and to store value.īitcoin’s wider acceptance as a bona fide currency has been given a boost by large strategic investments in it by companies like Tesla ( TSLA). Consequently, since its lows last March, Bitcoin has rallied sharply, recently crossing the $58,000 mark. dollar enhanced the appeal of cryptocurrencies to both retail and institutional investors. In addition to the public health crisis, the struggling global economy, a dovish monetary policy stance and weak U.S. During the onset of the COVID-19 pandemic last March, the most popular cryptocurrency, Bitcoin, traded below $4,000.
0 Comments
Leave a Reply. |