Cleanspark Inc. (CLSK) Ramps up Bitcoin Production amid AI infrastructure Expansion Spree

CleanSpark Inc (NASDAQ:CLSK) is one of the best cryptocurrency and blockchain stocks to buy now. On January 6, CleanSpark Inc. (NASDAQ:CLSK) affirmed strong performance across its mining operations and digital asset management groups. The company achieved a 10% year-over-year increase in Bitcoin production in December amid network difficulties.

The Bitcoin miner ended up producing 622 Bitcoin in December, averaging 20.07 Bitcoin per day. The 10% year-over-year increase resulted in production for the whole year reaching 7,746 at a hashrate of 150.0 EH/s. Consequently, it ended the year with 13,099 Bitcoin, after selling 577 Bitcoin at an average price of 89,210 during the month.

Amid robust Bitcoin mining operations, CleanSpark also expanded its footprint into artificial intelligence compute infrastructure. It has already acquired a 271-acre site in Texas and inked power agreements totaling 285 megawatts. It also boasts 31.45 GW under contract in its power portfolio and leverages 480MW to support mining operations.

“Our operational strength and active monetization strategies are creating a durable foundation as we advance AI infrastructure plans in Georgia, Texas, and beyond. We are making strong progress with potential tenants and will continue pursuing strategic energy opportunities to support long-term portfolio growth,” said Matt Schultz, CleanSpark Chief Executive Officer and Chairman.

Meanwhile, on January 8, Maxim initiated coverage of the stock with a Buy rating and a $22 price target.

Cleanspark Inc. (NASDAQ:CLSK) is focused on Bitcoin mining and developing high-performance computing infrastructure, utilizing its portfolio of energy assets and data centers for both activities. It also builds and operates data centers, initially leveraging low-cost, reliable energy to enable efficient Bitcoin mining.

While we acknowledge the potential of CLSK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.