CleanSpark (CLSK) Moves into AI With Ambitious Expansion Plans

CleanSpark, Inc. (NASDAQ:CLSK) is among the best US stocks to buy under $20. On November 25, CleanSpark, Inc. (NASDAQ:CLSK) reported its third-quarter results, in which it delivered revenue of $766.3 million, an impressive 102% increase from last year. Additionally, the company achieved a net income of $364.5 million, a strong rebound from the previous year’s net loss. Looking ahead, the company will focus on developing AI data center capabilities while winning new tenants for sites in Sandersville, Georgia, and Texas.

Entering 2026, management anticipates an EPS of $0.18 in Q1 2026 and $0.23 in Q2 2026, with annual guidance of $0.91 for 2026. To support the accelerating growth, CleanSpark, Inc. (NASDAQ:CLSK) will expand its power and land offerings.

With an emphasis on AI, CleanSpark, Inc. (NASDAQ:CLSK) is uniquely positioned in its market. As stated by CFO Gary Vecchiarelli,

“We are one of the first, if not the only company, which has a scaled cash-flowing business that is also using Bitcoin as a productive capital asset.”

According to TheFly, JPMorgan upgraded CleanSpark, Inc. (NASDAQ:CLSK) to Overweight from Neutral, with an unchanged $14 price target on November 24, right before the company’s third-quarter results. The firm highlighted the company’s latest share pullback while praising it for 200 MW of “critical IT capacity” at the 285 MW facility it recently acquired in Texas. What’s even more interesting is that the “flurry of deal activity” in high-performance computing is strengthening JPMorgan’s confidence in the bitcoin miners.

CleanSpark, Inc. (NASDAQ:CLSK) is a Nevada-based bitcoin mining company specializing in data centers. Incorporated in 1987, the company’s infrastructure supports Bitcoin.

While we acknowledge the potential of CLSK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CLSK and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.