Disclosure: ~$32k in CLSK calls and ~$100k in CLSK shares between Schwab and RH accounts.

CleanSpark (CLSK) is the most heavily suppressed stock in the BTC mining industry. It has a 28% short interest due to covered callers shorting the stock. I ran numbers based on prior financials and accounted for appreciation of BTC assets based on 12/31/2024 price of $93.6k per BTC. CLSK now holds over 10,000 BTC and three days ago reported expanding beyond 40 exahash (meaning still on track to reach 50 exahash goal by H1 2025).

In December, they acquired a $650M zero interest convertible note to pay for BTC mining hardware and buy back 11.76M shares. This note was made possible under the new FASB rule. Accounting for the no interest loan, hardware depreciation, lower share count, higher income, and higher asset value, I consider CLSK likely to beat -0.16 EPS projections and actually report positive EPS. Based on ability to get financing, beat expectations, and make tons of money in BTC, I'm hoping the market takes note.

Hopefully, I'm right about this :')

Not financial advice. DYOR.

RH Holdings

Schwab Holdings