The implication for investors? Upside of 55%. Lewis rates CLSK a Buy along with a $45 price target.
#Cleanspark stock offering software#
Over the past 12 months, the stock is up by 2320% But would you believe it has even further to run? Lewis does. (Nasdaq: CLSK), a diversified software and services company, today (Oct 6) announced that it intends to offer and sell shares of its common stock in an underwritten registered public offering. Bottom line,” Lewis summed up, “We are bullish on CLSK as a way to invest in increasing demand for microgrids.”Īlong with the soaring Bitcoin price, shares of CLSK have ripped higher. “As the core of the business is microgrid solutions, we would not be surprised to see CLSK monetize the Bitcoin mining business longer-term. A stock split allows publicly traded companies to alter their share price and outstanding share count without having any. Mining is a prosperous business right now, and in the near-term, Cleanspark plans to scale up its mining efforts.Īlthough Lewis sees the Bitcoin business as secondary, it has the potential to power other ventures. A company offering integrated microgrid solutions such as Cleanspark. The company got its hands on ATL’s 3,471 Bitcoin mining rigs, a timely addition, considering the surging Bitcoin price. The last one is important due to ATL being a Bitcoin miner, the purchase has added another dimension to Cleanspark. The deal followed last July’s acquisition of GridFabric and the December addition of ATL Data Centers. In February, Cleanspark added commercial/residential solar and energy storage developer Solar Watt Solutions to its roster, in a deal worth roughly $4 million in cash and 500,000 CLSK shares. The company has been focused on growth and raised $40 million last October to make several acquisitions. was incorporated in 1987 and is headquartered in Henderson, Nevada.BTIG analyst Gregory Lewis counts three reasons why the demand for microgrids is approaching an inflection point: 1) the combination of increasing demand for electricity security, 2) improved microgrid economics as the costs of energy storage systems and solar have improved, and 3) energy cost optimization as electricity prices become volatile owing to the intermittency of renewables.Ī company offering integrated microgrid solutions such as Cleanspark ( CLSK), says Lewis, is well-positioned to benefit.Ĭleanspark’s solution encompasses everything from the design and construction of microgrids, to support and maintenance (largely software). The company was formerly known as Stratean Inc. In addition, it provides design, software development, and other technology-based consulting services data center services, including rack space, power, and equipment and various cloud services, such as virtual, virtual storage, and data backup services. This segment also offers microgrid energy modeling, energy market communications, and energy management solutions comprising mPulse and mVoult, which are control platforms that enables integration and optimization of multiple energy sources Canvas, a middleware for grid operators and aggregators to administrate load shifting programs Plaid, a middleware for controls and Internet-of-Things products companies to participate in load shifting programs and mVSO, an energy modeling software for internal microgrid design, as well as owns gasification energy technologies for various applications, such as feedstock for the generation of di-methyl ether. The energy segment provides engineering, design and software, custom hardware, open automated demand response, solar, and energy storage solutions for microgrids and distributed energy systems to military, commercial, and residential customers and develops platforms that enables designing, building, operating, and managing of energy assets. The Digital Currency Mining segment engages in mining of bitcoin. It operates in two segments, Digital Currency Mining and Energy. provides bitcoin mining and energy technology solutions worldwide.
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