Cleanspark, Inc. (CLSK)

CleanSpark's stock experienced significant movements over the past six months. The stock price increased by 54.30% between October 28, 2024, and October 24, 2025, and was up 87% year-to-date as of October 22, 2025, reaching a new 52-week high of $23.61 on October 15, 2025. Institutional investors saw a 32% increase in the stock price in the week prior to September 20, 2025. The announcement of the company's expansion into AI computing infrastructure on October 20, 2025, caused shares to surge by nearly 12%. Analyst firms like BTIG and Needham raised their price targets, while JP Morgan downgraded its outlook. The resignation of CEO Matt Schultz in August 2025 was also a notable event.

For CleanSpark's Bitcoin mining operations, demand seasonality is tied to factors influencing the profitability and efficiency of mining, such as managing through "summer heat." The broader Bitcoin market can exhibit seasonal trends, indirectly affecting the "demand" for mining services. Demand for its new AI compute services is driven by the "booming demand for AI computing power" generally, which is described as a high-growth trend rather than a seasonally fluctuating one.

CleanSpark, Inc. operates in the Blockchain & Cryptocurrency sector, primarily focusing on Bitcoin mining. The company designs, owns, and operates data centers across the United States, concentrating on self-mining infrastructure. CleanSpark is diversifying into AI compute and HPC infrastructure, leveraging its existing power infrastructure and data center expertise to capitalize on the growing demand for AI computing power.

CleanSpark operates a portfolio of data centers across the United States, including sites in Georgia, Mississippi, Tennessee, and Wyoming. Georgia, particularly College Park, is a strategic region for its AI operations, with plans for expansion to serve the Atlanta metropolitan area.

CleanSpark's brand reputation has been largely positive due to its strategic pivot into AI and HPC. This move has been met with enthusiasm from investors and analysts, leading to stock surges and analyst upgrades. The company's strong financial performance, with fiscal Q3 2025 being its most profitable quarter, further bolsters its reputation. CleanSpark's focus on owning and scaling its mining infrastructure has also contributed to a positive perception.

CleanSpark, Inc. has a diverse ownership structure. Institutional shareholders hold a significant portion, ranging from 60.39% to 61% of the company's shares. Insiders own 23.82%, and retail investors hold 15.78%. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, iShares Core S&P Small-Cap ETF, Susquehanna International Group, Llp, and State Street Corp. Key individual owners (insiders) include Munson Family Limited Partnership, S. Matthew Schultz, Burkeley J. Priest, Bruce Lybbert, and Zachary Bradford.