CleanSpark Inc. NASDAQ：CLSK是一家比特币采矿公司，在整个美国东南部和西南部都有业务。

尽管许多公司专注于加密货币开采，但CleanSpark的独特背景是一家能源资源公司，然后在进入加密货币空间之前已经有多年的清洁微电网能源公司脱颖而出。

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）是一家比特币矿业公司，在整个美国东南部和西南部都有业务。尽管许多公司专注于加密货币开采，但CleanSpark的独特背景是一家能源资源公司，然后在进入加密货币领域之前已经有多年的清洁微电网能源公司有助于其脱颖而出。

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.

该公司不乏发烧友。尽管股票在2025年到目前为止下降了约15％，但它是华尔街分析师的七位购买评级的接收者。其中包括最近几周提供的评级，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，分析师的共识目标价为21.57美元的clsk股票，接近当前股价三倍。

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.

投资者将想知道，在最新的比特币集会上，CleanSpark是否可以升至炒作，尤其是那些不愿在与挥发性加密货币领域联系在一起的公司中的投资者。

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.

尽管CleanSpark确实存在于动荡且不断变化的行业中，但它注意到许多成就，有助于将其与其他尝试类似运营的公司区分开来。

Bitcoin and No HPC or AI

比特币，没有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比其某些竞争对手的优势在于，它主要集中在过去几年中，它放弃了更广泛的方法，该方法可能还包括高性能计算（HPC）或AI应用程序。

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.

与其他竞争对手相比，CleanSpark的YTD中等下降，即使是Mara Holdings Inc（NASDAQ：MARA）等采矿业务，这一点证明了这一点，该行动在同一时期下降了约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.

这种操作效率反映在与采矿相关的CleanSpark的成本中。该公司表示，其在2024年最后一个季度开采比特币的费用约为34,000美元，低于许多运营和服务范围更广泛的竞争对手的费用。

Growing Capacity While Maintaining Energy Efficiency

增长的能力同时保持能效

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已增强其计算能力，使其能够维持甚至提高其采矿率。在2025年4月，该公司的平均哈希速率超过40 eh/s，或每秒exahash（反映了每秒100亿哈希斯）。矿工的哈希速率越高，他们每秒完成的计算数量越大，成功采矿比特币的机会就越大。

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.

由于CleanSpark作为一家清洁能源公司的背景，这种增长是可能的，从而使其能够在保持效率的同时提高其采矿能力。该公司于2025年4月开采了633个比特币，到本月底，总比特币持有超过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，该公司创建了创纪录的700多个比特币。它计划今年继续增加产出近20％。

Financials Provide Stability Despite Coin Fluctuations

尽管硬币波动，财务仍可以稳定

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.

即使比特币的价格上下波动，有时甚至是疯狂的，CleanSpark的财务状况也为其提供了一些关键的稳定性。首先，它的低成本成本使它比竞争对手的毛利率具有优势。随着生产水平的提高，这只能有助于加强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.

该公司还取得了很大的成功，以维持有关比特币销售的市场纪律。 4月，CleanSpark以平均价格以上的价格售出了401多个比特币，即使比特币的价格徘徊在该数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还采取了措施，以确保其预算保持可行，最近与Coinbase Global Inc（NASDAQ：COIN）获得了耗资2亿美元的循环信贷额度，这应该使其能够继续成功管理其流动性和运营费用。

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.

在目前的价格水平下，CleanSpark的比特币储量总计约12亿美元，而其总市值为23亿美元。该公司并不是比特币矿工的最佳价值前景，它的价格与销售比率为4.86并不像Hut 8 Corp（NASDAQ：HUT）那样令人信服，因为后一家公司的价格为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的独特效率，对比特币储备和销售的精明处理以及生产增加的前景都使人们对这家公司的广泛分析师乐观。