Why CleanSpark, Inc. (CLSK) Went Down On Wednesday

We recently published a list of 10 Stocks Crash Harder Than Wall Street. In this article, we are going to take a look at where CleanSpark, Inc. (NASDAQ:CLSK) stands against other worst-performing stocks.

Shares of CleanSpark declined by 7.61 percent on Wednesday to finish at $9.11 apiece as investors sold off positions in line with the drop in Bitcoin prices.

As of 6:07 PM EST, the price of Bitcoin was down by 1.43 percent at the $107,000 level, as investors continued to book profits after reaching a record high last week. The weakness dribbled into CleanSpark, Inc. (NASDAQ:CLSK), alongside its cryptocurrency mining counterparts such as Riot Platforms Inc. and MARA Holdings Inc.

A hall of server racks, illuminated by blue LED lights and humming with energy.

In the second quarter of fiscal year 2025, CleanSpark, Inc. (NASDAQ:CLSK) swung to a net loss attributable to shareholders of $138.8 million from a net income of $123.89 million in the same period last year.

Revenues, on the other hand, increased by 62 percent to $181.7 million from $111.8 million year-on-year.

Last month, CleanSpark, Inc. (NASDAQ:CLSK) was able to mine 633 Bitcoins, and sold 401.39, bringing its total holdings to 12,101 as of end-April.

Overall, CLSK ranks 10th on our list of worst-performing stocks. While we acknowledge the potential of CLSK, 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 10,000x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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