Ladenburg Thalmann Initiates “Buy” on CleanSpark (CLSK) with $20.25 Target for Hashrate Growth

CleanSpark, Inc. (NASDAQ:CLSK) is one of the best performing crypto stocks so far in 2025. On July 28, Ladenburg Thalmann began coverage on CleanSpark Inc. with a Buy rating and a $20.25 price target.

The firm highlighted CleanSpark’s anticipated hashrate expansion beyond 60 EH/s by fiscal 2026 as a major growth driver, alongside its 89.47% revenue surge over the past year, rising Bitcoin holdings, and increasing presence in crypto mining. They also noted the stock’s volatility, reflected in its 4.25 beta.

Looking ahead, Ladenburg expects CleanSpark to generate $1.14 billion in revenue and $521 million in adjusted EBITDA by 2026, backing its optimistic valuation. The report emphasizes the company’s strengthening market position and argues that its stock should be valued in line with peers showing similar earnings growth potential.

CleanSpark, Inc. (NASDAQ:CLSK) is a bitcoin mining company. It develops and operates data centers across the United States that support cryptocurrency mining and high-performance computing (HPC) workloads. The company’s primary facilities include sites in Georgia, Tennessee, and Wyoming. CleanSpark’s main product is bitcoin, generated through proprietary mining infrastructure and immersion-cooled rigs.

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