CleanSpark Inc.'s stock rallied 5.4% to close at $10.35 on February 24, 2026, rebounding from recent pressure as investors focused on the company's strategic shift toward high-performance computing (HPC) and AI infrastructure, even after reporting a wider-than-expected net loss in fiscal first-quarter 2026 results released earlier in February.

CleanSpark Inc
CleanSpark Inc

As of February 24, 2026, CleanSpark (NASDAQ: CLSK) traded in a session range of $9.59 to $10.60 with volume exceeding 25.9 million shares, reflecting heightened activity amid the recovery. Pre-market trading on February 25 pushed shares higher to around $10.56-$10.63, suggesting continued interest. The shares have shown volatility year-to-date in 2026 but remain elevated from 2025 lows, with a 52-week range spanning lower levels to recent peaks near $23 in prior periods. Market capitalization hovers around $2.5 billion to $3 billion, depending on intraday moves.

The February 24 gain came despite a challenging Q1 fiscal 2026 earnings report on February 5, 2026 (for the quarter ended December 31, 2025). CleanSpark posted revenue of $181.2 million, up 11.6% year-over-year but missing analyst estimates of around $194 million. The company reported a net loss of $378.7 million—significantly wider than prior periods—and an EPS of -$1.35, far below consensus forecasts of $0.09 to $0.26. Gross margins contracted to 47% from 57% year-over-year, reflecting higher operational costs during the transition.

Management attributed the miss to reduced Bitcoin mining contributions amid price volatility and investments in HPC infrastructure. However, executives emphasized progress in securing AI data center leases, with the first expected soon. The pivot positions CleanSpark to capitalize on surging demand for compute power, leveraging its sustainable energy model and existing facilities.

Analysts maintain a cautiously optimistic view. Consensus among 12-14 firms rates CLSK a Moderate Buy to Strong Buy, with average 12-month price targets around $19.19 to $20.60—implying 85-100% upside from the February 24 close. Sanford C. Bernstein raised its target to $24 from $20 in late 2025, maintaining an Outperform rating. Other updates include Chardan Capital lowering to $16 from $30 in early February 2026 while keeping a Buy, and Keefe, Bruyette & Woods reducing to $14 from $18 but staying Outperform. Wall Street Zen shifted to Sell in November 2025, citing execution risks.

The company continues expanding its fleet, with operational updates highlighting increased hashrate and energy efficiency. January 2026 metrics showed progress toward targets, though Bitcoin exposure remains a volatility driver. CleanSpark's focus on low-cost, sustainable power differentiates it in the competitive mining and HPC landscape.

Upcoming catalysts include the next earnings report for fiscal Q2 2026, estimated around May 7, 2026. Analysts project an EPS of around -$0.25 to -$0.38 and revenue near $164 million. Investors will scrutinize HPC lease announcements, margin trends, cost controls, and guidance revisions amid the AI infrastructure boom.

CleanSpark navigates a transitional phase, balancing legacy Bitcoin mining with emerging HPC opportunities. While Q1 results highlighted profitability challenges during the shift, the AI pivot and analyst upside targets support optimism for recovery. With shares rebounding and trading at levels offering substantial potential if execution improves, CleanSpark remains a high-beta play in the digital asset and compute sector.