10 Best Stocks For Day Trading

3. CleanSpark, Inc. (NASDAQ:CLSK)

5-year Beta (monthly): 4.19

Average Volume: 25,300,855

Number of Hedge Fund Holders: 20

One of the best stocks for day trading, CleanSpark, Inc. (NASDAQ:CLSK) is a leading sustainable Bitcoin mining and energy technology company. Often referred to as “America’s Bitcoin Miner,” it stands out for its emphasis on using low-carbon energy sources, such as solar, nuclear, hydroelectric, and wind power, to fuel its Bitcoin mining operations across various data centers.

On September 11, the company announced a significant move to expand its footprint by entering into agreements to acquire seven Bitcoin mining facilities in Knoxville, Tennessee, for a total of $27.5 million, translating to about $324,000 per megawatt. The acquisition is part of the company’s strategy to secure top-tier infrastructure at competitive prices.

The anticipated operational hashrate from these facilities is expected to reach 5 exahashes per second (EH/s) once the latest S21 pro miners are installed. The seven sites, which collectively amount to 85 megawatts, range in size from 10 to 20 megawatts, adding significant capacity to CleanSpark’s (NASDAQ:CLSK) operations.

Additionally, on the same day, the company finalized its acquisition of a 45 MW site in Wyoming, which is projected to contribute another 3 EH/s to its hashrate. The facility will incorporate immersion-cooled Bitcoin mining data centers, designed to support the latest generation of S21 immersion XPs, which improves the efficiency and effectiveness of its mining efforts.

Further strengthening its portfolio, the company announced the acquisition of two more Bitcoin mining sites near Clinton, Mississippi, on September 17. With a combined purchase price of $5.775 million, these sites will support 16.5 MW and are currently partially completed.

The deal includes funding for the final stages of site construction, with delivery expected by December 1, 2024. Upon completion, the Mississippi sites will house S21 pro miners, yielding an additional combined operating hashrate of approximately 1 EH/s, which will bring the company’s total capacity in the state to 60.5 MW.

With these strategic acquisitions, CleanSpark’s (NASDAQ:CLSK) operational capacity has significantly increased, totaling 211.5 MW of new capacity. This represents a nearly 38% jump and sets the company on track to meet its ambitious targets of 37 EH/s by the end of 2024 and 50 EH/s by 2025. The company is not only advancing its capabilities in the Bitcoin mining sector but is also setting a strong example in sustainable energy practices.