Clear Street Trims Price Target on CleanSpark (CLSK) to $22, as Bitcoin Prices Fall

CleanSpark Inc. (NASDAQ:CLSK) is one of the 13 High-Risk High-Reward Growth Stocks to Invest In.

On February 9, Clear Street trimmed its target price on CleanSpark by 18.5% to $22 (from $27) but retained its Buy recommendation on the stock. The firm likes CLSK fundamentally, citing positive trends in high-performance compute demand. However, the recent slide in Bitcoin prices offset this positive sentiment.

This target price update comes right after CleanSpark released its Q1-FY2026 financial results on February 5 and its January 2026 operational metrics on February 4. The release showed Q1-FY2026 revenues growing 11.6% YoY to $162.3 million. As for the operational metrics, the company mined 1,821 units of Bitcoin, of which it sold 1,732 for total proceeds of $168.4 million (at an average price of $97,205).

Despite revenue growth, net income for the quarter swung to a loss of $378.7 million (vs. $246.8 million in Q1-FY2025), driven by mark-to-market losses on the company’s Bitcoin holdings (as of 31 December 2025, CLSK held 13,099 units of Bitcoin worth $1.15 billion). For reference, Bitcoin prices fell 23.3% to $87,509 (from $114,056) from 30 September to 31 December 2025.

Clear Street Trims Price Target on CleanSpark (CLSK) to $22, as Bitcoin Prices Fall

CleanSpark Inc. (NASDAQ:CLSK) is a Bitcoin mining company with exposure to the data center industry. The company is based in Henderson, Nevada, and was founded in October 1987 by S. Matthew Schultz and Bryan Huber.

While we acknowledge the risk and 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 and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.