On June 24, 2025, CleanSpark (NASDAQ: CLSK) experienced a stock increase of 13% following the achievement of a 50 EH/s hashrate milestone, which enhances the firm’s capacity to earn Bitcoin rewards. The company aims to scale operations to reach 60 EH/s.
Financially, CleanSpark reported a revenue growth of 90.1% over the last year, climbing from $283 million to $537 million, while the latest quarterly revenue surged 62.5% year-over-year. Despite an operating loss of $93 million in the past four quarters, CleanSpark holds $934 million in cash—equating to a Cash-to-Assets Ratio of 35.1%—and has a market cap of $2.8 billion with a manageable Debt-to-Equity Ratio of 23.1%. Analysts suggest a potential price target of $20 for CLSK, indicating possible upside of 2x from current trading levels.
Historically, CLSK has faced volatility, plummeting 95.6% during the 2022 Inflation Shock and 80.0% during the 2020 COVID-19 crash, whereas the S&P 500 dropped 25.4% and 33.9%, respectively. Despite these downturns, CleanSpark’s adjusted EBITDA margin for 2024 is solid at 65%, indicating potential profitability.
