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CleanSpark (CLSK) Soars as Bitcoin Miner Expands OperationsCleanSpark Inc. (NASDAQ: NASDAQ:CLSK ) has captured the attention of investors with its remarkable performance in the past year, driven by bullish market sentiments and strategic acquisitions in the Bitcoin mining sector. As the company continues to expand its data center portfolio and operations, coupled with the anticipated growth in Bitcoin prices, NASDAQ:CLSK stands poised for further gains in 2024. The Rise of CleanSpark: CleanSpark ( NASDAQ:CLSK )has witnessed an impressive surge of 172.22% over the past year, a testament to its solid fundamentals and strategic moves within the burgeoning Bitcoin mining industry. The recent announcement of the company's acquisition of four mining facilities further solidifies its position as a key player in the market. Strategic Acquisitions: The acquisition of four mining facilities, including three turnkey sites in Mississippi and one in Dalton, Georgia, for a total of $23.2 million, underscores CleanSpark's ( NASDAQ:CLSK ) commitment to expanding its operational footprint. These acquisitions not only bolster the company's data center portfolio but also position it favorably amidst the ongoing consolidation within the Bitcoin mining sector. Market Expectations and Bullish Momentum: CleanSpark's ( NASDAQ:CLSK ) stock has been buoyed by favorable market expectations, with investors showing increasing interest in the company's growth prospects. Technical indicators suggest a building bullish momentum, supported by recent price dynamics and a strengthening trend channel in the medium to long term. Bitcoin Price Projection: As Bitcoin prices are projected to strengthen in 2024, CleanSpark ( NASDAQ:CLSK ) stands to benefit from higher mining revenues, further bolstering its position in the market. With Bitcoin's anticipated growth trajectory and CleanSpark's ( NASDAQ:CLSK ) expanding operations, the stock is poised for sustained gains in the coming year. Outlook and Potential: CleanSpark's ( NASDAQ:CLSK ) current gains may see further momentum as the stock clears crucial resistance levels, particularly at $9.72 With a strong foundation in place and favorable market dynamics, NASDAQ:CLSK has the potential to emerge as one of the top-performing crypto stocks in 2024. Investors are advised to keep a close watch on key resistance levels, with $13 serving as a potential catalyst for further surges. Conclusion: CleanSpark's ( NASDAQ:CLSK ) strategic acquisitions, coupled with bullish market sentiments and the projected growth in Bitcoin prices, paint a compelling picture for the company's prospects in 2024. As it continues to ride the wave of positive momentum, NASDAQ:CLSK stands poised to deliver substantial returns for investors seeking exposure to the burgeoning cryptocurrency sector. In summary, CleanSpark's ( NASDAQ:CLSK ) ascent in the Bitcoin mining industry reflects not only its solid fundamentals but also its strategic vision for expansion and growth. With favorable market conditions and a bullish outlook, NASDAQ:CLSK presents a compelling opportunity for investors looking to capitalize on the potential of the cryptocurrency market in 2024 and beyond.
NASDAQ:CLSKLong
by DEXWireNews
Bitcoin Miners Update - CIPH, CLSK, MARA & RIOT Cleanspark Inc - NASDAQ:CLSK $1.5 Billion Market Cap ✅Trade remains open in 39% unrealized profit (average DCA of $5.85) ✅ The Volume on this chart is exceptional and really adds to my conviction. I may double down with another buy if we get down to the 200 day MA. 🚨 I have raised the stop from $4.50 turning it into a 23:1 risk reward. Raising as 23% below current 200 day MA is enough IMO. A lot people see the recent pull back as a reason to deleverage, this is where I trade differently, its a long term position. The short term volatility will either allow me to get another decent discount buy in or sink deep enough to cancel out the trade. This is how we can gain a full long term bullish trending move with exponential upside. The risk is 23% or not taking the risk and not remaining patient having taken it. Cipher Mining - NASDAQ:CIFR $0.83 billion market cap ✅Trade remains open in 9% unrealised profit ✅ Look at that volume increase. It’s a beautiful thing. It reassures us that there is significant green buying rushing into this stock & hints that we on the right side of the trade 🚨 I have raised the stop from $1.77 to $2.16 turning it into a 7:1 risk reward. - Raising the stop as there is plenty of support above it that should hold from recent lows, H&S baseline and diagonal support line. If all these are lost, cutting losses would be ideal. Like most of my trades, they require a little more patience and a distain for intermittent short term volatility. Marathon Digital - NASDAQ:MARA $4.22 Billion Market Cap ❌Our stop was triggered on the last trade at @ $7.66 with a notable 30% loss. Subsequently this was exactly were price bounced. The original position size was very small so its not end of the world stuff. In the end the stop was too high, we should have place it just a tad lower but…this happens and that’s trading. All the other trades are in profit and fully cater for this loss. Without these rules id be broke. I consider it a necessary loss. I didn’t want more than the 30% limit lost so, that was my risk tolerance for the position size. Onto the front foot what do we do next? ✅ I set a bid at $14.31 where i think we may get a bounce from the 200 day SMA ✅ You could enter right here for the potential head and shoulders baseline bounce. I could consider that but if but it would be watched like a day trade. I'll just see how tomorrow goes first. The bid is at $14.31 for now. 🚨 I am allowing for a 30% loss again with a stop @ $4.41 however I am starting with what was left after the last loss, 70% of my original position and I'll be watching this a lot closer. I actually love these trades because they teach you something, you realize the small position size and the 30% loss was within your tolerance, enough so that you can come back at the trade again and with exponential potential returns the prospect draws you in once again. The risk reward is there. Alternatively, you could just DCA into these and for years through thick and thin, BUT again, position size should be tolerable for you to patiently sit on your hands and let the trend take shape. Riot Platforms NASDAQ:RIOT $2.42 Billion Market Cap ▫️ No position open in RIOT yet as it appears to be the weaker of the charts we have looked at. ▫️ In our last post we noted volume is declining which is negative and the RSI was not yet oversold. We noted both of these could mean more sideways or price declining action. Since then we have actually increased and hold a 30% higher position from $9.13 - $11.73 however price is dropping fast and has not managed to break out of the pennant. I believe this demonstrates relative weakness to the other charts noted. ▫️ We are still forming midterm pennant (dashed lines). A break out of this pennant would be an a good signal on direction. ▫️ Strong Historic Price Support between $8.50 and the POC at $7.40 (green bar). If you were going to risk a trade here, Id be playing off the lower end with a tight stop. ▫️ We are falling below the 200 day SMA (Not Ideal with pennant over head resistance). Now don't get me wrong, RIOT will likely rise like the other miners, however at present NASDAQ:CLSK is showing significant relative strength having broken out of its pennant , well above its 200 day MA and sitting in 40% profit. On the contrary, we have strong support for NASDAQ:RIOT at c. $9.00 which could present an opportunity. We noted $8.50 as a good level last post, in the end price bounced from $8.61. We cant be too greedy. Summary The clear winner is Cleanspark NASDAQ:CLSK with a moderate market cap of $1.5 billion and a chart demonstrating relative strength with us sitting in approx. 40% profit. The MARA chart is demonstrating strength and may provide a great opportunity as instructed above however the market cap of $4.22 Billion clearly out sizes CLSK and may mean a slower rise or growth potential. MARA actually mined a record 1,852 BTC in Dec 2023 and have increased BTC Reserves have increased from 12,964 to 15,174 as of Dec 2023. Theses are incredible numbers. Tomorrow I will look at a comparison of how each of these miners are performing in terms of rigs active, reserves held and BTC being mined. PUKA
NASDAQ:CLSKLong
by PukaCharts
Pigeon is long CleanSpark $CLSKCleanspark is on pace to reach 10eh/s in the next 30-40 days. That is late july early august. They have the miners on site and racking. They also have the miners already purchased and being delivered to reach or possibly exceed 16eh/s by the end of the year. This is a miner that has been lagging against all others. As book value goes they are severely undervalued and have positioned themselves to become a top 2-3 miner. Retail investors aren't liking the dilution but it looks like to me they won't need to use all of the ATM as the stock price has increased. Retail and even analysts have low price targets because there is uncertainty they can pull off the targets they've set out. They have diluted 57% over the last 2 quarter to get 2.5x in hashrate, from 6.6eh/s to 16eh/s. I am fine with this as as they are growing before the halving as miners need to be aggressive and also efficient as possible. Pigeon sees this as an opportunity to buy value and have a calculated asymmetrical bet on the books. There is no such thing as a 'quad top', this is making LH's into resistance. Expecting pace of move to be speed up as that resistance is snaped. Would like to see that zone labeled to hold tho. Pigeon is long sparky.
NASDAQ:CLSKLong
by Pigeon941
15
$CLSK cleaning mining 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management My team purchased shares of digital mining bitcoin company CleanSpark $CLSK today at $5.35 per share. Our take profit is set at $9 Hello guys! This week a new crypto bill has been the main topic of focus inside of the crypto world. NY has also passed a crypto bill which will ban crypto mining via fossil fuels. $CLSK is way ahead of other bitcoin miners and has been building grids which will allow crypto to be mined without using fossil fuels. Our entry: $5.35 Target: $9.00 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:CLSKLong
by SimplyShowMeTheMoney
2
$CLSK sold our shares with a 21% gain 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management Recap: My team purchased shares of digital mining bitcoin company CleanSpark $CLSK at $10.30 per share on March 3, 2022. We sold our $CLSK shares today at $12.50 for a gain of 21%. Thank you all for sticking with us through this trade despite us hitting our stop loss on this trade early on. We held through and have been rewarded nicely! Congrats to those of you who took this trade! Our entry: $10.30 Target (HIT): $12.50 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:CLSK
by SimplyShowMeTheMoney
2
$CLSK target reached with an 18% gain 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management Recap: My team purchased shares of clean-energy software and bitcoin mining company $CLSK at $7.40 per share on 1/19/22 My team adjusted our previous take profits today 8 hours ago because we figured that $CLSK may jump after earnings, but we weren't too sure whether or not it could hold those gains. We set the take profit to $8.75, and we are happy to announce that the target has been reached! Congrats to those of you who took this trade! We exited $CLSK with a total gain of 18.24%! OUR ENTRY: $7.40 TAKE PROFIT(HIT): $8.75 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:CLSK
by SimplyShowMeTheMoney
2