CleanSpark Stock Pulls In Bigger Bet From Situational Awareness Hedge Fund

Leopold Aschenbrenner's Situational Awareness hedge fund significantly boosted its CleanSpark Inc. (NASDAQ:CLSK) position in the first quarter as the Bitcoin (CRYPTO: BTC) miner pushes deeper into AI infrastructure. The fund's latest 13F, filed May 18 for the quarter ended March 31, shows Situational Awareness held 12.28 million CleanSpark shares, up from 1.64 million shares at the end of 2025, a 7.48-fold increase. CLSK stock is up on heavy volume. See the price action here. The position's reported value rose to $104.5 million from $16.6 million, while its portfolio weight increased to 0.76% from 0.30% of the fund's reported book. Read Also: Nvidia Options Traders Bet On A Big Move As Earnings Loom Other miner and neocloud-related holdings moved the other way as a percentage of the fund's book. Applied Digital Corp. (NASDAQ:APLD), IREN Limited (NASDAQ:IREN), Riot Platforms, Inc. (NASDAQ:RIOT), Core Scientific, Inc. (NASDAQ:CORZ) and CoreWeave, Inc. (NASDAQ:CRWV) all declined as portfolio weights, while the fund closed its positions in Cipher Mining Inc. (NASDAQ:CIFR) and Hut 8 Corp. (NASDAQ:HUT). CleanSpark stock was trading at $15.75, up 7.15% on Wednesday, according to Benzinga Pro data. The buying comes as CleanSpark leans into a transition from bitcoin mining toward AI and high-performance computing infrastructure. The company said it had more than 1.8 gigawatts of power, land and data centers, 585 megawatts of ERCOT-approved capacity and 18% year-over-year average monthly hashrate growth in its Q2 update. "This quarter, we accelerated our digital infrastructure evolution across four key areas: land and power development, with ERCOT approval of 300 MW in Brazoria; leasing, with further progress in Georgia and beyond; financing, as market conditions remain constructive; and construction, as we continue developing the new parcel in Sandersville," Matt Schultz, CEO of CleanSpark, stated in the company's latest earnings release. CleanSpark has not yet announced its first hyperscaler lease, but Schultz said the company continues to make "meaningful headway toward securing our first hyperscale customer." CLSK Technical Analysis CleanSpark stock is currently positioned above all key moving averages, indicating strong bullish momentum. The 20-day SMA is notably 21.4% above the price, while the 50-day and 100-day SMAs are 42.6% and 44.5% above, respectively, suggesting a solid upward trend. The RSI is currently at 69.53, according to Benzinga Pro data, which is approaching overbought territory but remains neutral for now. This level indicates that while momentum is strong, traders should be cautious of a potential pullback if the RSI crosses above 70. Read Also: Space Stocks Are Back In Orbit As SpaceX IPO Hype Builds CleanSpark has not experienced a golden cross or death cross recently, but the current moving average relationships indicate a strong bullish trend. The 50-day SMA is below the 200-day SMA, which suggests that while the short-term trend is positive, the long-term outlook may still be cautious. Over the past 12 months, CleanSpark stock has gained 64.16%, reflecting a strong upward trajectory. This performance highlights the stock’s resilience and potential for continued growth, making it an attractive option for traders looking for longer-term opportunities. Photo: Shutterstock