CleanSpark (CLSK) Jumps 12.6% on Rating Upgrade, New Mining Facility

Angelica Ballesteros

Thu, Jul 3, 2025, 11:41 AM 1 min read

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 Wednesday, jumping 12.64 percent to close at $12.48 apiece amid a flurry of positive developments, including a rating upgrade and a go-signal for a new mining facility in Tennessee.

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.

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

Meanwhile, the company reportedly secured the approval to build a new mining facility in Mountain City, Tennessee.

With a 3-1 vote, the Mountain City Board of Mayor and Aldermen reportedly approved the development of the facility on a 50-acre site, where CleanSpark, Inc. (NASDAQ:CLSK) plans to construct a 30-megawatt Bitcoin mining facility.

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