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Author: Admin | 2025-04-28
Data Centers and optimized its mining operations with its microgrids. It subsequently expanded that business by acquiring and upgrading several more Bitcoin mining facilities. Its hash rate, which gauges the efficiency of its mining operations, rose from 1.01 EH/s (exahashes per second) at the end of fiscal 2021 (which ended in September 2021) to a whopping 20.4 EH/s at the end of June. It mined 3,614 Bitcoins in the first half of calendar 2024.CleanSpark's future is tightly tethered to the future of Bitcoin. Assuming the cryptocurrency's price continues to rise, analysts expect the company's revenue to grow at a CAGR of 68% from fiscal 2023 to fiscal 2026. If it meets those expectations and continues expanding at a CAGR of 25% over the following eight years, it could generate $4.7 billion in revenue by fiscal 2034. That would be 26 times higher than its $168 million in revenue in fiscal 2023.That might sound like a lofty target, but the bulls believe Bitcoin's price could still rise from about $61,000 today to over $1 million over the next few years. If that happens, CleanSpark would be well-positioned to generate millionaire-making gains, and it might be an undervalued growth play right now at less than six times this year's sales. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Bitcoin, and Volkswagen Ag. The Motley
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