10 Stocks With 10-60% Upside

6. CleanSpark, Inc. (NASDAQ:CLSK)

Shares of CleanSpark recovered by 14.74 percent on Monday to finish at $14.87 apiece, bolstered by strong optimism for the Bitcoin industry.

CleanSpark, Inc. (NASDAQ:CLSK) rallied alongside its Bitcoin mining firms on Monday, namely MARA Holdings, Riot Platforms, and Galaxy Digital, after the latter’s chief executive said that he expects the price of Bitcoin to propel past the $200,000 level if a new dovish chairman takes over the Federal Reserve.

The rally suggested strong confidence for the company even after getting a rating downgrade from JPMorgan.

Over the weekend, JPMorgan downgraded CleanSpark, Inc. (NASDAQ:CLSK) to “neutral” from “overweight” previously, while maintaining its price target of $14.

According to the investment firm, CleanSpark, Inc. (NASDAQ:CLSK) is currently fully priced after announcing expansion to 50 EH/s in June. It is currently the 7th largest Bitcoin mining firm in terms of market capitalization.

In other news, CleanSpark, Inc. (NASDAQ:CLSK) last week raised $100 million in fresh funds through tapping a credit facility with Two Prime. Proceeds will be used to support Bitcoin mining hashrate deployment, invest in high-performance computing (HPC) capabilities, and fund its evolving digital asset management strategies.