12/16/2023 0 Comments Cleanspark price targetWe are modelling for 1.0 EH/s mining capacity and around 6.0 bitcoins mined per day by the December 2021 quarter.” “Given the current mining difficulty rates,” the 5-star analyst noted, “The company expects to result in the production of 6.0-9.0 bitcoins per day. The March quarter will see a full quarter of Bitcoin input, with production bringing in between 1.5 to 2 bitcoins per day as the hash rate has increased from 200 PH/s in December to over 315 PH/s in February.īy early 2H21, the company expects to have an extra 800 to 880 PH/s of processing capacity which should grow the total Bitcoin mining capacity to between 1.0 and 1.3 EH/s. The Bitcoin contribution to CleanSpark’s balance sheet is set to increase. “With bitcoin prices trading in a range between $28,000 and $49,000 over the last month,” Dayal noted, “We believe our assumptions are overly conservative.” Dayal notes how prudent the forecast appears considering Bitcoin’s moves, even before the latest surge. However, this estimate is based the assumption Bitcoin’s price hovers around the 46,000 mark by then. However, the problem with trying to estimate projected revenues for any company involved in Bitcoin related endeavors is extremely difficult due to the constantly moving goalposts, especially when looking several years ahead.įor instance, Dayal revised his FY2030 revenue and EBITDA estimates from the prior $273 million and $129.9 million, respectively, to $355 million and $221.8 million. The microgrid software specialist has been growing its Bitcoin mining capacity and with the rising Bitcoin price, CleanSpark will be raking in additional revenue. The reason for the new bullish target is easy to explain. (To watch Dayal’s track record, click here) The analyst boosted his price target from $24 to $50, suggesting upside of 72% from current levels. Wainwright analyst Amit Dayal thinks the surge merits a rethink for his CleanSpark (CLSK) model. ![]() The crypto king has surged past $50,000 for the first time, on the latest leg of a rally which is showing no signs of exhaustion.īitcoin believers are reaping the rewards and H.C.
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