CleanSpark Inc. NASDAQ：CLSK是一家比特幣採礦公司，在整個美國東南部和西南部都有業務。

儘管許多公司專注於加密貨幣開採，但CleanSpark的獨特背景是一家能源資源公司，然後在進入加密貨幣空間之前已經有多年的清潔微電網能源公司脫穎而出。

CleanSpark Inc (NASDAQ:CLSK) is a Bitcoin mining firm with operations throughout the Southeastern and Southwestern United States. While many companies focus on cryptocurrency mining, CleanSpark's unique background, which was an energy resource firm and then a clean microgrid energy company for many years before entering the crypto space, helps it to stand out.

CleanSpark Inc（NASDAQ：CLSK）是一家比特幣礦業公司，在整個美國東南部和西南部都有業務。儘管許多公司專注於加密貨幣開採，但CleanSpark的獨特背景是一家能源資源公司，然後在進入加密貨幣領域之前已經有多年的清潔微電網能源公司有助於其脫穎而出。

The firm has no shortage of enthusiasts. Despite shares declining about 15% so far in 2025, it is the recipient of seven Buy ratings from analysts across Wall Street. These include ratings provided in recent weeks by firms including Chardan Capital and Needham & Co.

該公司不乏發燒友。儘管股票在2025年到目前為止下降了約15％，但它是華爾街分析師的七位購買評級的接收者。其中包括最近幾週提供的評級，包括Chardan Capital和Needham＆Co.。

Further, analysts have set a consensus price target of $21.57 for CLSK shares, approaching triple the current share price.

此外，分析師的共識目標價為21.57美元的clsk股票，接近當前股價三倍。

Investors will want to know if CleanSpark can live up to the hype amid the latest Bitcoin rally, particularly those investors reluctant to enter a position in a firm linked with the volatile cryptocurrency space.

投資者將想知道，在最新的比特幣集會上，CleanSpark是否可以升至炒作，尤其是那些不願在與揮發性加密貨幣領域聯繫在一起的公司中的投資者。

While CleanSpark does exist in a turbulent and ever-changing industry, it has noted numerous achievements that help to set it apart from other firms attempting similar operations.

儘管CleanSpark確實存在於動盪且不斷變化的行業中，但它注意到許多成就，有助於將其與其他嘗試類似運營的公司區分開來。

Bitcoin and No HPC or AI

比特幣，沒有HPC或AI

CleanSpark's advantage over some of its competitors is that it has focused primarily on Bitcoin mining for the last several years, forgoing a broader approach that might also include high-performance computing (HPC) or AI applications.

CleanSpark比其某些競爭對手的優勢在於，它主要集中在過去幾年中，它放棄了更廣泛的方法，該方法可能還包括高性能計算（HPC）或AI應用程序。

This is evidenced by CleanSpark's modest decline YTD compared to that of other competitors, even mining operations like MARA Holdings Inc (NASDAQ:MARA), which has fallen by about 23% in the same period.

與其他競爭對手相比，CleanSpark的YTD中等下降，即使是Mara Holdings Inc（NASDAQ：MARA）等採礦業務，這一點證明了這一點，該行動在同一時期下降了約23％。

This efficiency of operations is reflected in CleanSpark's costs associated with mining. The company said its costs to mine a Bitcoin in the final quarter of 2024 were roughly $34,000, lower than those of many competitors with a broader range of operations and services.

這種操作效率反映在與採礦相關的CleanSpark的成本中。該公司表示，其在2024年最後一個季度開採比特幣的費用約為34,000美元，低於許多運營和服務範圍更廣泛的競爭對手的費用。

Growing Capacity While Maintaining Energy Efficiency

增長的能力同時保持能效

CleanSpark has grown its computing capacity to allow it to maintain or even grow its mining rates. For April 2025, the company achieved an average hash rate of over 40 EH/s, or exahash per second (reflecting one quintillion hashes per second). The higher a miner's hash rate, the greater the number of computations they complete per second, and the better their chances of successfully mining Bitcoin become.

CleanSpark已增強其計算能力，使其能夠維持甚至提高其採礦率。在2025年4月，該公司的平均哈希速率超過40 eh/s，或每秒exahash（反映了每秒100億哈希斯）。礦工的哈希速率越高，他們每秒完成的計算數量越大，成功採礦比特幣的機會就越大。

This growth has been possible thanks to CleanSpark's background as a clean energy firm, allowing it to improve its mining capacity while maintaining efficiency. The company mined 633 Bitcoin in April 2025, reaching a total Bitcoin holding of more than 12,000 by the end of the month.

由於CleanSpark作為一家清潔能源公司的背景，這種增長是可能的，從而使其能夠在保持效率的同時提高其採礦能力。該公司於2025年4月開采了633個比特幣，到本月底，總比特幣持有超過12,000。

In March, the company set a record production of more than 700 Bitcoin. It plans to continue increasing output by close to 20% this year.

3月，該公司創建了創紀錄的700多個比特幣。它計劃今年繼續增加產出近20％。

Financials Provide Stability Despite Coin Fluctuations

儘管硬幣波動，財務仍可以穩定

Even as Bitcoin's price swings up and down, sometimes wildly, CleanSpark's financial standing provides it with some key stability. First, its low costs-to-mine give it an advantage over competitors in terms of gross margin. As production levels increase, this should only help to strengthen CleanSpark's position.

即使比特幣的價格上下波動，有時甚至是瘋狂的，CleanSpark的財務狀況也為其提供了一些關鍵的穩定性。首先，它的低成本成本使它比競爭對手的毛利率具有優勢。隨著生產水平的提高，這只能有助於加強CleanSpark的位置。

The company has also been largely successful in maintaining market discipline regarding its Bitcoin sales. In April, CleanSpark sold more than 401 Bitcoin at an average price above $90,000, even as Bitcoin's price hovered below that figure for more than two-thirds of the month.

該公司還取得了很大的成功，以維持有關比特幣銷售的市場紀律。 4月，CleanSpark以平均價格以上的價格售出了401多個比特幣，即使比特幣的價格徘徊在該數字以下的三分之二以上。

CleanSpark has also taken steps to ensure its budget remains viable, recently securing a $200-million revolving credit facility with Coinbase Global Inc (NASDAQ:COIN), which should allow it to continue successfully managing its liquidity and operational expenses.

CleanSpark還採取了措施，以確保其預算保持可行，最近與Coinbase Global Inc（NASDAQ：COIN）獲得了耗資2億美元的循環信貸額度，這應該使其能夠繼續成功管理其流動性和運營費用。

At current price levels, CleanSpark's Bitcoin reserves total about $1.2 billion, while its total market capitalization is $2.3 billion. The company is not the best value prospect among Bitcoin miners—its price-to-sales ratio of 4.86 is not as compelling, for example, as that of Hut 8 Corp (NASDAQ:HUT), as the latter firm comes in at 1.98.

在目前的價格水平下，CleanSpark的比特幣儲量總計約12億美元，而其總市值為23億美元。該公司並不是比特幣礦工的最佳價值前景，它的價格與銷售比率為4.86並不像Hut 8 Corp（NASDAQ：HUT）那樣令人信服，因為後一家公司的價格為1.98。

However, CleanSpark's unique efficiency, its savvy handling of its Bitcoin reserves and sales, and the prospect of increased production going forward all lend credence to widespread analyst optimism around this company.

但是，CleanSpark的獨特效率，對比特幣儲備和銷售的精明處理以及生產增加的前景都使人們對這家公司的廣泛分析師樂觀。