CleanSpark's 2,300 petahash/second hashrate means they perform 2,300 quadrillion calculations in one second, giving them a leading edge when solving the complex computational problems needed to create a block and earn the Bitcoin mining reward. This ratio demonstrates how much Bitcoin mining power a company has per value of invested capital.įor starters, Hashrate refers to the total combined computational power that is being used to mine and process transactions on a Proof-of-Work blockchain. One such metric I believe is pertinent to evaluating a Bitcoin mining company is the hashrate to market cap ratio (H/M). And although traditional valuation models and metrics should be used to gauge the investment thesis of Bitcoin miners, new valuation methods must be adopted to analyze this new asset class. With CleanSpark's stock price down over 83% since the Bitcoin euphoria of 2021, investors should take a serious look at the bull case for this Bitcoin mining company.īitcoin Stock Chart (TradingView) Undervalued on a Novel Metricīitcoin mining is a nascent industry.
In fact, when factoring in total operational costs, they reported a Q1 2022 gross margin of 79%. But, even if Bitcoin was trading at its 52-week low, CleanSpark would still net some juicy margins. This is significantly less than the $28,957.79 to $68,906.48 range Bitcoin has traded in during the past 52 weeks. Leveraging their more three decades of energy technology experience and using an inexpensive energy supply containing mostly nuclear, hydroelectric, solar, and wind, it only costs CleanSpark $4,500 in energy to mine one Bitcoin.
Luckily for CleanSpark, they have access to both clean and cheap energy. But, with the climate concerns raised by Tesla's ( TSLA ) Elon Musk and other ESG investors such as Larry Fink of BlackRock ( BLK ), a Bitcoin mining company must also obtain a majority of its energy through renewable sources to attract institutional capital. The key to success in the world of Bitcoin mining is to source cheap energy. However, when considering that CleanSpark ( NASDAQ: CLSK) is profitable, its business is rapidly growing, and its stock price is already down 83% from its January 2021 highs, I believe the risk/reward opportunity is starting to look promising for long-term investors wanting exposure to the Bitcoin mining industry.ĬLSK Stock Chart (TradingView) Renewable Energy and Profitability In today's equities market, many companies are getting crushed and Bitcoin miners are no exception.
#Cleanspark stock forecast 2030 free#
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