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CleanSpark (CLSK) Solidifies Spot Among Top Bitcoin Miners, HC Wainwright remains bullish

CleanSpark Inc. (NASDAQ:CLSK) is one of the 20 undervalued momentum stocks that are taking off. In an industry where scale and speed are everything, CleanSpark has just hit a major milestone that investors shouldn’t overlook.

On Tuesday, June 24, CleanSpark announced that it had reached a total operating capacity of 50 exahashes per second (EH/s), meaning the company has achieved its mid-year 2025 target on schedule. The update caught the attention of H.C. Wainwright analyst Mike Colonnese who reiterated his bullish view on CleanSpark following the company’s update.

A close up view of a final mining equipment used in bitcoin mining.

To benchmark this performance versus the last year, we note that throughout December 2024, the Company’s average hashrate was 35.52 EH/s, and it reported a hashrate of 39.1 EH/s at the end of the last year. Although, in comparison, the top player, MARA Holdings Inc. (NASDAQ:MARA), reported a hashrate of 58.3 EH/s at the end of May and held 49,179 bitcoin (BTC).

According to Colonnese, this milestone makes CleanSpark only the second public Bitcoin miner in their coverage to achieve this scale. The analyst emphasized that CleanSpark remains their top pick in the crypto mining sector.

He pointed to the company’s 145% year-over-year growth in hash rate since June 2024, which he attributes to a blend of solid organic expansion, targeted acquisitions, and disciplined capital allocation. In his view, as the company continues to expand its infrastructure and focus on capital efficiency, it appears well-positioned to build on its current momentum.

CleanSpark (NASDAQ:CLSK), is a pure-play Bitcoin miner with a portfolio of mining facilities across the United States.

While we acknowledge the potential of CLSK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Harvard University Stock Portfolio: Top 10 Stock Picks and 10 Best Tech Stocks to Buy According to Billionaires.

Disclosure: None.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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