Latest news with #CLSK
Yahoo
3 days ago
- Business
- Yahoo
Crypto Currents: Trump signs executive order to allow crypto in 401(k) plans
As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the 'Crypto Currents' weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. TRUMP SIGNS ORDER TO ALLOW CRYPTO IN 401K PLANS: President Donald Trump signed (CLSK) reported third quarter earnings per share of 90c on a revenue of $198.6M, which compared to a loss per share of ($1.03) last year and analyst revenue consensus of $200.34M. 'This was the most successful quarter in CleanSpark's history, and it reflects the strength of our strategy, the discipline of our execution, and the tireless commitment of our team,' said CEO Zach Bradford. 'We reached 50 EH/s of operational hashrate in June, becoming the first public company to do so exclusively with American infrastructure, while achieving record basic EPS of 90c and nearly $200M in revenue. We also grew our bitcoin treasury to over $1B in value, all without raising capital through equity offerings since November 2024. Having achieved 5.8% of global hashrate under management and over one gigawatt of power contracted, CleanSpark is proving that our vertically integrated model is built not just for growth, but for leadership. We believe the future of Bitcoin will be defined by those who build with purpose, and CleanSpark is setting the standard'. On Friday, B. Riley raised the firm's price target on CleanSpark to $17 from $16 and kept a Buy rating on the shares. The firm updated the company's model post the fiscal Q3 report. On Tuesday, Galaxy Digital (GLXY) reported Q2 EPS of 8c on a revenue of $9.06M, which compared to analyst estimates of 23c and $19.83M, respectively. The company said, 'July marked the strongest monthly financial performance for our Digital Assets operating business in the firm's history, with record results in Global Markets and steady progress in Asset Management & Infrastructure Solutions.' Following the report, BTIG raised the firm's price target on Galaxy Digital to $35 from $26.50 and kept a Buy rating on the shares. Galaxy Digital's Q2 operating income was significantly higher than Q1 as BTC rallied 40% since the end of Q1, the analyst said. Galaxy's current BTC balance makes them the eighth largest BTC holder among U.S. public companies and positions the company as a diversified play on the secular growth in digital assets, the firm said. Meanwhile, Rosenblatt lowered the firm's price target on Galaxy Digital to $35 from $36 and kept a Buy rating on the shares. The firm said that while the company reported weaker than expected Q2 results, its remains bullish on the shares. clear progress and encouraging trends. Although the company's trading volumes and blockchain activity fell sharply last quarter, they are off to a record start in Q3, the analyst said. Benchmark raised the firm's price target on Galaxy Digital to $40 from $38 and kept a Buy rating on the shares. The Q2 report, Galaxy Digital's first quarterly print since redomiciling in the U.S. and listing its shares on Nasdaq, 'offered a clear signal that the company is entering a new era,' the analyst said. The firm believes the downdraft post-earnings was a 'sell-the-news' reaction after shares had almost tripled since early April, but added that the report 'reflected the company's accelerated evolution as a hybrid digital asset/AI data center platform.' Canaccord also raised the firm's price target on Galaxy Digital to $34 from $33 and kept a Buy rating on the shares. The firm said Galaxy remains a solid portfolio play across two of the most exciting growth sectors out there, crypto-related financial services combined with what is evolving as one of the best data center portfolios out there, focused on AI hosting. Additionally on Thursday, DDC Enterprise (DDC) a collaboration with Galaxy. The partnership with Galaxy will provide DDC with seamless trading access and a secure, regulated platform to manage DDC's corporate bitcoin holdings. Also on Thursday, Mill City Ventures III (MCVT) announced a strategic partnership with Galaxy. Galaxy Asset Management will serve as the asset manager for the $450M SUI treasury strategy at Mill City. On Wednesday, Hut 8 (HUT) reported Q2 EPS of $1.18 on revenue of $41.3M, which compared to analyst views of a loss per share of (14c) and revenue of $49.83M. 'In Q2, we delivered strong revenue and margin performance while advancing a fundamental shift in our asset commercialization profile,' said CEO Asher Genoot. 'Strategic wins across our Power and Digital Infrastructure segments increased the share of energy capacity under management commercialized under executed agreements with terms of one year or longer to nearly 90% at quarter-end, up from less than 30% a year ago, driving a meaningful shift from merchant exposure to long-term, contracted fees. These milestones build on the restructuring of our mining business with the launch of American Bitcoin. In addition to completing an oversubscribed private placement and advancing toward a Nasdaq listing, American Bitcoin is now a dedicated anchor tenant for our Power and Digital Infrastructure segments…As we work to commercialize AI data center opportunities, we continue to apply the power-first, innovation-driven approach that has long defined our strategy and enabled us to build such partnerships. Initially energized during the quarter, Vega is a clear expression of that strategy: designed in-house and increasingly viewed by prospective partners as a prototype for next-generation AI infrastructure.' Following the report, B. Riley raised the firm's price target on Hut 8 to $26 from $25 and kept a Buy rating on the shares. The company reported a soft Q2 but has a strong development pipeline, the analyst said. Riley cited Hut's expanded power pipeline for the target increase. CORPAY, CIRCLE TO COLLABORATE ON STABLECOIN PAYMENTS: Corpay (CPAY) announced Thursday a new (CRCL), to expand stablecoin access across global payment channels. They will work together to embed USDC across Corpay's cross-border pay-in and pay-out rails allowing companies to access blockchain's 24/7 settlement and programmability. Corpay will integrate Circle Mint and related APIs, enabling clients to access and manage USDC directly through Corpay's platform. Clients will be able to fund Corpay-branded digital wallets, powered by Circle Wallets, instantly, enabling onchain settlement and seamless currency conversion alongside traditional fiat balances. 'Working with Corpay represents the next evolution of how businesses move money globally, faster, more transparently, and with the power of blockchain infrastructure,' said Kash Razzaghi, Chief Business Officer at Circle. 'By embedding USDC into Corpay's robust network, we're delivering enterprise-grade stablecoin utility across card payments and cross-border FX, all while upholding the compliance and reliability standards that global businesses demand.' COINBASE DOWNGRADE: Compass Point downgraded Coinbase (COIN) on Sunday to Sell from Neutral with a price target of $248, down from $330. The firm remains constructive on the current crypto cycle but expects a 'choppy' Q3 with weak August and September seasonality along with waning retail interest in crypto treasury stocks. In addition, increasing stablecoin competition will weigh on both Coinbase and Circle Internet's valuations in the second half of 2025, the analyst said, Compass Point believes Coinbase's Q2 and Q3 trends show weakening earnings despite the ongoing crypto bull market. The firm sees limited valuation support for Coinbase if crypto markets sell off further. Additionally on Sunday, BofA lowered the firm's price target on Coinbase to $369 from $383 and kept a Neutral rating on the shares. The firm updated models in the brokers, asset managers and exchanges group to reflect the Q2 reports. It reduced estimates for Coinbase following the earnings miss. Meanwhile on Monday, Keefe Bruyette lowered the firm's price target on Coinbase to $335 from $355 and kept a Market Perform rating on the shares. Coinbase also announced on Tuesday that Canadian users can now select PayPal (PYPL) as a payment option, making it easier to buy and sell cryptocurrencies. The company said, 'With nearly 10 million active PayPal accounts across the country, Canadians have long trusted PayPal for their financial needs – whether its shopping, running their business, sending money or managing their funds online. We're now adding another layer of convenience for Canadian crypto holders by integrating PayPal with Coinbase, allowing users to buy and sell using PayPal. This collaboration supports our global goal of onboarding one billion people to the cryptoeconomy and marks a meaningful step in our continued expansion across priority markets like Canada. The timing reflects growing momentum, with more than five million Canadians owning crypto.' MICROSTRATEGY BUYS MORE BITCOIN: In a Monday regulatory filing, Strategy (MSTR) disclosed that the company acquired 21,021 bitcoin for an aggregate purchase price of $2.46B during the period of July 28 to August 3. The company's aggregate bitcoin holdings amount to 628,791 as of August 3, the filing stated. Additionally on Monday, Clear Street raised the firm's price target on Strategy to $537 from $508 and kept a Buy rating on the shares. The firm's 'more constructive view' reflects stronger bitcoin yield expectations as well as expectations for continued 'robust' demand for Strategy securities offerings, the analyst said. OTHER CRYPTO NEWS: Riot Platforms (RIOT) initiated with a Neutral at Citi, upgraded to Buy from Hold at JonesResearch Bakkt (BKKT) to acquire 30% of MarushoHotta Semler Scientific (SMLR) reports Q2 EPS $5.04 vs. $0 last year TeraWulf (WULF) reports Q2 EPS (5c), consensus (7c) Block (XYZ) reports Q2 bitcoin revenue $2.144B CRYPTO STOCK PLAYS: Publicly traded companies in the space include Bit Digital (BTBT), Coinbase, Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Strategy, Riot Platforms and TeraWulf. PRICE ACTION: As time of writing, bitcoin rose roughly 1% this week to $116,909 in U.S. dollars, according to CoinDesk. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on BTBT: Disclaimer & DisclosureReport an Issue Trump signs order to allow 401(k) investors to access alternative assets Mixed options sentiment in Bit Digital with shares down 15.7% WhiteFiber opens at $25, IPO priced at $17 per share WhiteFiber indicated to open at $25.50, IPO priced at $17 per share 3 Best Crypto Stocks to Buy with Over 100% Upside, According to Analysts Sign in to access your portfolio
Yahoo
7 days ago
- Business
- Yahoo
CleanSpark Set to Report Q3 Earnings: What's in the Cards for the Stock?
CleanSpark CLSK is scheduled to report third-quarter fiscal 2025 results on Aug. Zacks Consensus Estimate for fiscal third-quarter 2025 revenues is pegged at $195.1 million, suggesting a 87.4% year-over-year consensus mark for earnings is pegged at break-even, narrower by 2 cents over the past 30 days. CLSK reported earnings of 1 cent in the year-ago earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the remaining one, delivering a negative earnings surprise of 59.29%, on average. Cleanspark, Inc. Price and EPS Surprise Cleanspark, Inc. price-eps-surprise | Cleanspark, Inc. Quote Let us see how things have shaped up for the upcoming announcement. Key Factors to Note for CLSK's Q3 CleanSpark's fiscal third-quarter performance is expected to have benefited from its strategic investments in energy-efficient infrastructure. As of March 31, the company had a total contracted power capacity of approximately 915 megawatts ('MW') across the United States, spanning over 30 locations in Georgia, Mississippi, Tennessee and Wyoming. As of March 31, 2025, the company's operating mining units could produce more than 42.4 exahash per second ('EH/s') of computing power. Hashrate is a measure of the computing and processing power and speed by which a mining computer mines and processes transactions on the Bitcoin network. CLSK hit 50 EH/s in the to-be-reported April, May, and June, CleanSpark produced 633, 694 and 685 Bitcoins, respectively. As of June 30, 2025, CleanSpark's total Bitcoin holding was 12,608. CleanSpark's transition from a nearly 100% HODL (hold-on-for-dear-life) Bitcoin treasury approach to a more balanced monetization strategy through selling a portion of mined Bitcoin to fund operations has been a key catalyst. The company sold 578.51 bitcoins in the to-be-reported quarter. CLSK's focus on achieving low marginal cost per Bitcoin is expected to have benefited profitability in the fiscal third quarter. What Our Model Says Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the exact case currently has an Earnings ESP of +2000.02% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Other Stocks to Consider Here are some companies worth considering, as our model shows that these, too, have the right combination of elements to beat on earnings in their upcoming releases:Lumentum LITE currently has an Earnings ESP of +5.12% and a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks shares are up 32.3% year to date. Lumentum is set to report its fourth-quarter fiscal 2025 results on Aug. Technologies PGY has an Earnings ESP of +2.19% and has a Zacks Rank of #1 at present. Pagaya shares have surged 246.7% year to date. Pagaya is set to report its second-quarter 2025 results on Aug. G presently has an Earnings ESP of +0.78% and a Zacks Rank #2. Genpact shares have dropped 1% year to date. Genpact is scheduled to report its second-quarter 2025 results on Aug. 7. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Genpact Limited (G) : Free Stock Analysis Report Lumentum Holdings Inc. (LITE) : Free Stock Analysis Report Cleanspark, Inc. (CLSK) : Free Stock Analysis Report Pagaya Technologies Ltd. (PGY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
05-08-2025
- Business
- Globe and Mail
CleanSpark Set to Report Q3 Earnings: What's in the Cards for the Stock?
CleanSpark CLSK is scheduled to report third-quarter fiscal 2025 results on Aug. 7. The Zacks Consensus Estimate for fiscal third-quarter 2025 revenues is pegged at $195.1 million, suggesting a 87.4% year-over-year rise. The consensus mark for earnings is pegged at break-even, narrower by 2 cents over the past 30 days. CLSK reported earnings of 1 cent in the year-ago quarter. CleanSpark's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the remaining one, delivering a negative earnings surprise of 59.29%, on average. Cleanspark, Inc. Price and EPS Surprise Cleanspark, Inc. price-eps-surprise | Cleanspark, Inc. Quote Let us see how things have shaped up for the upcoming announcement. Key Factors to Note for CLSK's Q3 CleanSpark's fiscal third-quarter performance is expected to have benefited from its strategic investments in energy-efficient infrastructure. As of March 31, the company had a total contracted power capacity of approximately 915 megawatts ('MW') across the United States, spanning over 30 locations in Georgia, Mississippi, Tennessee and Wyoming. As of March 31, 2025, the company's operating mining units could produce more than 42.4 exahash per second ('EH/s') of computing power. Hashrate is a measure of the computing and processing power and speed by which a mining computer mines and processes transactions on the Bitcoin network. CLSK hit 50 EH/s in the to-be-reported quarter. In April, May, and June, CleanSpark produced 633, 694 and 685 Bitcoins, respectively. As of June 30, 2025, CleanSpark's total Bitcoin holding was 12,608. CleanSpark's transition from a nearly 100% HODL (hold-on-for-dear-life) Bitcoin treasury approach to a more balanced monetization strategy through selling a portion of mined Bitcoin to fund operations has been a key catalyst. The company sold 578.51 bitcoins in the to-be-reported quarter. CLSK's focus on achieving low marginal cost per Bitcoin is expected to have benefited profitability in the fiscal third quarter. What Our Model Says Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the exact case here. CleanSpark currently has an Earnings ESP of +2000.02% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Other Stocks to Consider Here are some companies worth considering, as our model shows that these, too, have the right combination of elements to beat on earnings in their upcoming releases: Lumentum LITE currently has an Earnings ESP of +5.12% and a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here. Lumentum shares are up 32.3% year to date. Lumentum is set to report its fourth-quarter fiscal 2025 results on Aug. 12. Pagaya Technologies PGY has an Earnings ESP of +2.19% and has a Zacks Rank of #1 at present. Pagaya shares have surged 246.7% year to date. Pagaya is set to report its second-quarter 2025 results on Aug. 7. Genpact G presently has an Earnings ESP of +0.78% and a Zacks Rank #2. Genpact shares have dropped 1% year to date. Genpact is scheduled to report its second-quarter 2025 results on Aug. 7. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Genpact Limited (G): Free Stock Analysis Report Lumentum Holdings Inc. (LITE): Free Stock Analysis Report Cleanspark, Inc. (CLSK): Free Stock Analysis Report Pagaya Technologies Ltd. (PGY): Free Stock Analysis Report
Yahoo
02-08-2025
- Business
- Yahoo
CleanSpark (CLSK) Declines More Than Market: Some Information for Investors
CleanSpark (CLSK) closed the most recent trading day at $10.44, moving -8.22% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.6%. At the same time, the Dow lost 1.23%, and the tech-heavy Nasdaq lost 2.24%. The stock of company has fallen by 7.18% in the past month, lagging the Finance sector's gain of 0.8% and the S&P 500's gain of 2.25%. The upcoming earnings release of CleanSpark will be of great interest to investors. The company's earnings report is expected on August 7, 2025. The company is predicted to post an EPS of $0, indicating a 100% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $195.09 million, up 87.39% from the prior-year quarter. For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.82 per share and a revenue of $769.59 million, signifying shifts of +415.38% and +103.08%, respectively, from the last year. Investors might also notice recent changes to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 106.25% higher. At present, CleanSpark boasts a Zacks Rank of #2 (Buy). Investors should also note CleanSpark's current valuation metrics, including its Forward P/E ratio of 13.93. This indicates a premium in contrast to its industry's Forward P/E of 12.03. The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 29% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleanspark, Inc. (CLSK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-07-2025
- Business
- Yahoo
Cantor outlines how to navigate the emerging Bitcoin treasury sector
- The amount of Bitcoin owned by companies specializing in accruing more of the cryptocurrency is anticipated to rise, according to analysts at Cantor. Many firms have recently embarked on Bitcoin buying sprees, as part of a bid to capitalize on the digital coin's soaring value and hopes for a softer regulatory backdrop. In a note, the analysts led by Brett Knoblauch said these so-called "Bitcoin treasury companies," such as MicroStrategy (NASDAQ:MSTR), Marathon Digital Holdings (NASDAQ:MARA), and CleanSpark (NASDAQ:CLSK), own or have raised capital acquire roughly 904,000 of the digital tokens. "[W]e expect that number to only continue to increase given the capital market advantages these companies have," they argued. They added that "if feels like a new Bitcoin treasury play is emerging every day," fueled by a range of factors, including retail investor enthusiasm, the relative ease of buying stocks compared to cryptocurrencies, and fewer punitive tax rules equities than on digital assets. "Financial engineering" is also seen allowing Bitcoin treasury companies to continuously grow their Bitcoin positions in the future, the analysts predicted. The trend comes as firms are trying to emulate the success of Strategy, the software group formerly known as MicroStrategy, which began building up its Bitcoin stockpile in 2020 and now owns more than $63 billion worth of the world's largest cryptocurrency. Investors have seemingly celebrated the move, with Strategy's stock up by 3,000% since 2020, mirroring a surge in Bitcoin to recent all-time highs. Last week, twenty new public firms announced crypto purchases, the Cantor analysts noted. But "not all Bitcoin treasury companies are created equal" and "some offer better risk/reward than others," they flagged. Perhaps most importantly, these companies need to be able to rake in capital, as this will help facilitate further Bitcoin purchases, the analysts said. "The amount of capital a company has access to in this space is largely driven by trading liquidity. For shares to have a relatively high amount of volume, we believe they need to have a management team that carries weight in the crypto ecosystem," they argued. Buying Bitcoin is crucial for these companies, as their ability to acquire more of the asset will likely determine their long-term performance, the analysts said. "Thus, if we look at multiple of Bitcoin net asset value, a company on a higher multiple today objectively screens more expensive, but that could be entirely justified by the market's perception that it can sustain continued Bitcoin acquisitions over the long run," they wrote. Against this backdrop, the analysts named Strategy as their top pick among Bitcoin treasury names, and initiated coverage of new players Semler Scientific and Fold Holdings with "overweight" ratings. Related articles Cantor outlines how to navigate the emerging Bitcoin treasury sector Risks Rising? Smart Money Dodged 46%+ Drawdowns on These High-Flying Names After soaring 149%, this stock is back in our AI's favor - & already +25% in July Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
