On Tuesday, the company announced that it has now surpassed 4 EH/s of hash rate, a 30% increase in less than one month. However, among these peers it is last in market capitalization, primary because it is punished for having the lowest level of retained digital assets on its balance sheet. Of the eight largest and producing, Nasdaq listed Bitcoin (BTC-USD) miners, CleanSpark is solidly in fourth in deployed, operational and producing hash rate. When doing any ground level miner comparisons, CleanSpark (CLSK) immediately jumps out for its high level of production relative to its market capitalization. This discounting is somewhat arbitrary as they also have a low level of carried debt with only $34 million in total liabilities.Ī recent executive branch report prepared for the White House suggested the possibility to "eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining." Of the eight largest, listed and producing Bitcoin miners, CleanSpark is the best value from a market cap to hash rate share perspective.ĬleanSpark is enabling growth in its total network hash rate share through recent power supply acquisitions in Georgia, including 230 MW of capacity in Sandersville.ĬleanSpark has purchased some Bitmain S19 XPs, but is generally looking to acquire earlier models from the S19 Series on the spot market at depressed prices.ĬleanSpark has been punished for its relatively low level of retained crypto assets. Past results do not guarantee a similar outcome.Be Ready To Add CleanSpark When Fed Signals Pivot settles or to receive free alerts about corporate executives engaged in wrongdoing, sign up for Stock Watch today.Īttorney Advertising. To be notified if a class action against CleanSpark, Inc. Robbins LLP is a nationally recognized leader in shareholder rights law. (CLSK) Shareholders Have OptionsĪll representation is on a contingency fee basis. The stock now trades at just around $16.00.ĬleanSpark, Inc. On January 14, 2021, Culper Research published a report alleging that CleanSpark had "fabricated key elements of its business, including purported customers and contracts" and that it is "rife with undisclosed related party transactions." Specifically, the report alleged that the acquisition of ATL Data Centers, LLC "is another Gutless Promotion Attempt" and that the Company's acquisition of p2k Labs was "an undisclosed related party transaction that apparently fabricated its customers." On this news, the Company's share price fell $3.63, or 9%, to close at $35.71 per share on January 14, 2021. On December 31, 2020, CleanSpark issued a press release touting its achievements and "a number of significant wins for the Company." As for outlook, the Company "forecast that our second and third fiscal quarters will again be our strongest" and projected it would "generate $20 million in revenue related to our current business segments and we expect the recent acquisition of ATL Data Center to contribute a minimum of $10 million in additional Bitcoin-based (BTC-USD) revenues for 2021." (CLSK) May Have Misled Investors About its Related Party Transactions and its Customer and Contract Figures If you suffered a loss due to CleanSpark, Inc.'s misconduct, click here.ĬleanSpark, Inc. CleanSpark provides advanced software and controls technology solutions, including end-to-end microgrid energy modeling, energy market communications, and energy management solutions. (NASDAQ: CLSK) to determine whether certain CleanSpark officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. SAN DIEGO & WOODS CROSS, Utah-( BUSINESS WIRE)-Shareholder rights law firm Robbins LLP is investigating CleanSpark, Inc.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |