CleanSpark Inc. (NASDAQ: CLSK) has been covered by Northland with an Outperform rating and a $22.50 price target as of January 13. The firm noted the company's current operation of about 50 EH/s of capacity in the United States.
Northland stated that CleanSpark is diversifying its infrastructure by expanding into high-performance computing and artificial intelligence data centers. The firm believes this shift creates opportunities for the company to secure HPC lease agreements on favorable terms in the near to medium term.
Earlier, on January 8, Maxim Group initiated coverage of CleanSpark with a Buy rating and a $22 price target. Maxim observed that the company is pivoting from Bitcoin mining assets to AI data centers to capitalize on rising infrastructure demand.
This expansion is supported by the acquisition of a 285-megawatt site in Texas, completed earlier in October 2025, and a total of approximately 1.5 gigawatts of contracted power secured by November 2025. The firm highlighted that CleanSpark's immediate access to power provides a competitive advantage, allowing it to move faster than rivals facing significant approval delays.
CleanSpark Inc. operates as a Bitcoin mining company in the Americas. The company owns, leases, and operates data centers and power assets.