We recently compiled a list of the 10 Stocks Lead Wednesday’s Charge, Mirror Broader Gains. In this article, we are going to take a look at where CleanSpark, Inc. (NASDAQ:CLSK) stands against the other stocks.
US shares stayed firmer on Wednesday, with all major indices finally eking out gains as President Donald Trump softened on trade restrictions for three large automakers, reviving hopes that the trade war may not be as bad as it seemed.
The Dow Jones grew 1.14 percent, the S&P 500 rose by 1.12 percent, while the tech-heavy Nasdaq jumped 1.46 percent.
On Wednesday, the White House granted three large automakers a one-month exemption from tariffs after a call with the president, sending their share prices higher during the session.
Ten firms also mirrored the broader optimism, posting strong gains during the day. In this article, we have listed the 10 names and detailed the reasons behind their performance.
To come up with Wednesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A hall of server racks, illuminated by blue LED lights and humming with energy.
CleanSpark, Inc. (NASDAQ:CLSK)
CleanSpark, Inc. (NASDAQ:CLSK) surged by 10.18 percent on Wednesday to finish at $8.55 each as investors cheered news of higher Bitcoin mining produced last month.
According to CleanSpark, Inc. (NASDAQ:CLSK)’s monthly report, it mined a total of 624 bitcoins, pushing its total ownership to 11,177 as of February 28. It also sold 2.73 bitcoins during the month and operated at 40.7 EH/S.
“As we look ahead, we are on schedule to reach 50 EH/s by June 30, 2025, and continue to invest in the power pipeline required to support 60 EH/s and beyond,” said CLSK President and CEO Zach Bradford.
“February demonstrated the value of our pure play Bitcoin mining strategy. We focus exclusively on bitcoin and continuously improve on our leading operational excellence as we continue to add to our treasury,” he added.
Overall CLSK ranks 6th on our list of Wednesday’s top gainers. While we acknowledge the potential of CLSK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CLSK but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.