CleanSpark, Inc. (NASDAQ:CLSK) is one of the Double Digit Gains: 10 Stocks Soaring Like Crazy.

CleanSpark extended its winning streak to a third consecutive day on July 2nd, jumping 12.64 percent to close at $12.48 apiece amid a flurry of positive developments, including a "buy" recommendation for its stock.

In its market note earlier this week, B. Riley gave a “buy” recommendation and a $16 price target on CleanSpark, Inc.’s (NASDAQ:CLSK) stock. The figure represented a 28-percent upside from its latest closing price.

A hall of server racks, illuminated by blue LED lights and humming with energy.

The rating adjustment was buoyed by the achievement of its hash rate target of 50 EH/s on June 24, ahead of the original June 30 schedule.

Meanwhile, leaders in Mountain City have approved a rezoning request that could pave the way for the establishment of a Bitcoin mining facility.

With a 3-1 vote, the Mountain City Board of Mayor and Aldermen reportedly approved the rezoning request on a 50-acre site.

CleanSpark, Inc. (NASDAQ:CLSK) plans to construct a 30-megawatt Bitcoin mining facility in Mountain City.

While we acknowledge the potential of CLSK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.