Movement Alert|CleanSpark, Inc. Rises 9.18% in Pre-Market Trading, Q3 Loss Narrows Sequentially as $6.6B Data Center Lease Bolsters Confidence

Market Focus
08/07

On August 7, CleanSpark, Inc. rose 9.18% in pre-market trading, trading at $13.95/share, with turnover of $2.82 million.

The company reported fiscal Q3 EPS of -$0.89, missing analyst estimates of -$0.32 to -$0.48, with revenue of $138 million also falling short of the $148.9 million consensus. However, the results marked a notable sequential improvement from Q2's EPS of -$1.52 and revenue of $136.4 million, signaling a narrowing loss trajectory.

Market sentiment was further buoyed by the company's previously announced 20-year infrastructure lease agreement with a high investment-grade global technology firm for its Sandersville, Georgia campus. The deal is expected to generate approximately $6.6 billion in contracted revenue over its initial term, with two five-year extension options potentially bringing total revenue to $11.6 billion. The tenant also signed a letter of intent covering CleanSpark's Texas portfolio with up to 885 MW of capacity.

Multiple institutions including B. Riley (target raised to $26) and Chardan (target raised to $21) maintain Buy ratings, reflecting positive expectations for the company's AI/HPC transformation.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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