CleanSpark

$CleanSpark(CLSK.US) | H.C. Wainwright 𝗿𝗲𝗶𝘁𝗲𝗿𝗮𝘁𝗲𝘀 𝗕𝘂𝘆 on 𝗖𝗹𝗲𝗮𝗻𝗦𝗽𝗮𝗿𝗸 𝗜𝗻𝗰., PT $𝟮𝟮

Analyst sees Sandersville execution de-risking and near-term HPC/AI opportunities as compelling and not priced into the stock.

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $CleanSpark(CLSK.US) CleanSpark Signs $𝟲.𝟲 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 AI Data Center Lease With Global Technology Company

👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:

➤ 𝗖𝗹𝗲𝗮𝗻𝗦𝗽𝗮𝗿𝗸 signed a 𝟮𝟬-𝘆𝗲𝗮𝗿 triple-net (NNN) data center lease.

➤ Lease is expected to generate $𝟲.𝟲 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in contracted revenue.

➤ Contract value could reach $𝟭𝟭.𝟲 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 with extension options.

➤ Agreement covers 𝟭𝟳𝟱 𝗠𝗪 of critical IT load in Sandersville, Georgia.

➤ Infrastructure deliveries are expected to begin in 𝗤𝟰 𝟮𝟬𝟮𝟳.

➤ Tenant is a 𝗵𝗶𝗴𝗵 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁-𝗴𝗿𝗮𝗱𝗲 global technology company.

➤ Expected cumulative 𝗡𝗢𝗜 contribution margin is nearly 𝟭𝟬𝟬%.

➤ Average annual 𝗡𝗢𝗜 contribution is projected at approximately $𝟯𝟯𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻.

➤ July Bitcoin production totaled 𝟱𝟴𝟲 𝗕𝗧𝗖, bringing 2026 production to 𝟰,𝟯𝟭𝟬 𝗕𝗧𝗖.

➤ Bitcoin holdings increased to 𝟭𝟯,𝟵𝟯𝟭 𝗕𝗧𝗖 as of July 31, 2026.

👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:

➤ Marks CleanSpark's first major 𝗛𝗣𝗖 data center leasing agreement.

➤ Diversifies revenue beyond Bitcoin mining into long-term AI infrastructure.

➤ Provides highly visible, recurring cash flows through a multi-decade contract.

➤ Highlights accelerating enterprise demand for AI-ready data center capacity.

👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁:

𝗠𝗮𝘁𝘁 𝗦𝗰𝗵𝘂𝗹𝘁𝘇, CEO and Chairman of CleanSpark:

"July was a transformative month for CleanSpark with the execution of our first HPC data center lease at our Sandersville campus. This was a 20-year true triple-net lease directly with a high investment-grade leading global technology company resulting in $6.6 billion in contracted revenue with a nearly 100% NOI margin. Our business is executing on parallel paths as we focus on commercialization and continue expanding our power and land portfolio while driving mining productivity."

$IREN(IREN.US) +19.69% after revising ARR target to $4B+ from new AI cloud contracts. Its customer base now includes Microsoft, Nvidia, Perplexity, and Figure.

$Hut 8 Mining(HUT.US) +10.45% off a 15Y $9.8B AI DC lease

$Cipher Digital(CIFR.US) +16.76%

$CleanSpark(CLSK.US) +13.7%

$Whitefiber(WYFI.US) +9.18%

$Nebius(NBIS.US) and $Coreweave(CRWV.US) are taking their time in the shower.

But does look like Neoclouds/Colo players are sharply recovering following new catalysts, such as Kimi compute shortage news and new contracts.

🏆 TOP 10 WEEKLY ANALYST RATINGS:

$Hut 8 Mining(HUT.US) $Palo Alto Networks(PANW.US) $Unitedhealth(UNH.US) $Intel(INTC.US) $CleanSpark(CLSK.US) $AMC ENT(AMC.US) $Aerovironment(AVAV.US) $Arm(ARM.US) $Circle(CRCL.US) $Apple(AAPL.US)

$CleanSpark(CLSK.US) | Cantor Fitzgerald reiterates 𝐎𝐯𝐞𝐫𝐰𝐞𝐢𝐠𝐡𝐭 on 𝐂𝐥𝐞𝐚𝐧𝐒𝐩𝐚𝐫𝐤, 𝐫𝐚𝐢𝐬𝐞𝐬 𝐏𝐓 𝐭𝐨 $𝟐𝟔 𝐟𝐫𝐨𝐦 $𝟏𝟕

Analyst sees the first signed AI data center lease as a pivotal step, de-risking the company's transition away from Bitcoin mining.

$CleanSpark(CLSK.US) | Needham maintains 𝐁𝐮𝐲 on 𝐂𝐥𝐞𝐚𝐧𝐒𝐩𝐚𝐫𝐤, 𝐫𝐚𝐢𝐬𝐞𝐬 𝐏𝐓 𝐭𝐨 $𝟐𝟑 𝐟𝐫𝐨𝐦 $𝟏𝟖

Analyst sees a new 20-year lease and potential for more as near-term catalysts, prompting higher estimates and an increased PT.

⚡ 𝐔𝐏𝐃𝐀𝐓𝐄: $CleanSpark(CLSK.US) CleanSpark Signs $6.6 Billion 20-Year Data Center Infrastructure Lease

👉 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

➤ 𝐂𝐥𝐞𝐚𝐧𝐒𝐩𝐚𝐫𝐤 signs a 𝟐𝟎-𝐲𝐞𝐚𝐫 𝐍𝐍𝐍 lease with a global technology company.

➤ Initial lease expected to generate approximately 𝐒𝟔.𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 in contracted revenue.

➤ Total contract value could reach 𝐒𝟏𝟏.𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 with extension options.

➤ Agreement covers 𝐒𝟏𝟕𝟓 𝐌𝐖 of critical IT load at Sandersville, Georgia.

➤ Infrastructure deliveries are expected to begin in 𝐐𝟒 𝟐𝟎𝟐𝟕.

➤ Tenant signed exclusivity covering CleanSpark's 𝐓𝐞𝐱𝐚𝐬 𝟖𝟖𝟓 𝐌𝐖 portfolio.

➤ Texas portfolio spans 𝐒𝟕𝟏𝟖 𝐚𝐜𝐫𝐞𝐬 with secured and planned power capacity.

➤ Lease includes annual escalators and nearly 𝐒𝟏𝟎𝟎% cumulative NOI contribution margin.

➤ Expected average annual 𝐍𝐎𝐈 contribution is approximately 𝐒𝟑𝟑𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧.

👉 𝐄𝐱𝐩𝐞𝐫𝐭 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭𝐬:

𝐌𝐚𝐭𝐭 𝐒𝐜𝐡𝐮𝐥𝐭𝐳, CleanSpark CEO and Chairman:

"This lease is a transformational moment for CleanSpark as we complete our evolution into a diversified digital infrastructure platform and begin monetizing our power portfolio at institutional scale. A 20-year commitment from a high-investment-grade global technology company with a market-leading commercial profile and exclusivity across our nearly 900 MW of additional capacity in Texas is a tremendous validation of our land-and-power strategy. We have long believed in the second-mover advantage in this sector: grow our portfolio as the market matures, then execute with excellent terms and velocity. Today's announcement validates our thesis."

𝐉𝐢𝐦𝐦𝐲 𝐀𝐧𝐝𝐫𝐞𝐰𝐬, Mayor of Sandersville:

"CleanSpark has been a pillar of the Sandersville community for many years, providing job market stability, tax revenue, and broad support for what makes our part of the world special. We are excited to see CleanSpark embark on this new chapter and stand shoulder to shoulder with them to support this incredible infrastructure project."

📢 𝐉𝐔𝐒𝐓 𝐈𝐍: $CleanSpark(CLSK.US) CleanSpark Mined 614 Bitcoin in June, Holdings Rise to 13,924 BTC

👉 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

➤ 𝐂𝐥𝐞𝐚𝐧𝐒𝐩𝐚𝐫𝐤 mined 𝟔𝟏𝟒 𝐁𝐓𝐂 in June, averaging 𝟐𝟎.𝟒𝟔 BTC per day.

➤ Peak daily production reached 𝟐𝟐.𝟓𝟕 𝐁𝐓𝐂 during the month.

➤ Total 𝐁𝐓𝐂 holdings increased to 𝟏𝟑,𝟗𝟐𝟒 as of June 30.

➤ CleanSpark produced 𝟑,𝟕𝟐𝟒 𝐁𝐓𝐂 during the first six months of 2026.

➤ Operational hashrate reached 𝟓𝟎 𝐄𝐇/𝐬, with an average of 𝟒𝟐.𝟔 𝐄𝐇/𝐬.

➤ Fleet totaled 𝟐𝟐𝟓,𝟏𝟑𝟕 miners with peak efficiency of 𝟏𝟔.𝟎𝟕 J/TH.

➤ CleanSpark sold 𝟏𝟕𝟗 BTC at spot and 𝟐𝟓𝟎 BTC through call options.

➤ Company acquired 𝟐𝟔𝟗 BTC through put exercises and basis trading strategies.

➤ Average selling price was 𝐔𝐒$𝟔𝟗,𝟎𝟓𝟔 per Bitcoin.

👉 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬:

➤ Growing 𝐁𝐓𝐂 holdings strengthen CleanSpark's digital asset balance sheet.

➤ Higher hashrate supports increased 𝐦𝐢𝐧𝐢𝐧𝐠 capacity and future production growth.

➤ Texas expansion and HPC development could diversify 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 beyond Bitcoin mining.

👉 𝐄𝐱𝐩𝐞𝐫𝐭 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭:

➤ "We're making strong progress toward energization in Texas while continuing to advance our HPC campus portfolio alongside monetization efforts." — 𝐌𝐚𝐭𝐭 𝐒𝐜𝐡𝐮𝐥𝐭𝐳, CEO and Chairman of CleanSpark.