Pigeon is long CleanSpark $CLSK
Updated
Cleanspark is on pace to reach 10eh/s in the next 30-40 days. That is late july early august. They have the miners on site and racking. They also have the miners already purchased and being delivered to reach or possibly exceed 16eh/s by the end of the year. This is a miner that has been lagging against all others. As book value goes they are severely undervalued and have positioned themselves to become a top 2-3 miner.
Retail investors aren't liking the dilution but it looks like to me they won't need to use all of the ATM as the stock price has increased. Retail and even analysts have low price targets because there is uncertainty they can pull off the targets they've set out. They have diluted 57% over the last 2 quarter to get 2.5x in hashrate, from 6.6eh/s to 16eh/s. I am fine with this as as they are growing before the halving as miners need to be aggressive and also efficient as possible. Pigeon sees this as an opportunity to buy value and have a calculated asymmetrical bet on the books.
There is no such thing as a 'quad top', this is making LH's into resistance. Expecting pace of move to be speed up as that resistance is snaped. Would like to see that zone labeled to hold tho.
Pigeon is long sparky.
Retail investors aren't liking the dilution but it looks like to me they won't need to use all of the ATM as the stock price has increased. Retail and even analysts have low price targets because there is uncertainty they can pull off the targets they've set out. They have diluted 57% over the last 2 quarter to get 2.5x in hashrate, from 6.6eh/s to 16eh/s. I am fine with this as as they are growing before the halving as miners need to be aggressive and also efficient as possible. Pigeon sees this as an opportunity to buy value and have a calculated asymmetrical bet on the books.
There is no such thing as a 'quad top', this is making LH's into resistance. Expecting pace of move to be speed up as that resistance is snaped. Would like to see that zone labeled to hold tho.
Pigeon is long sparky.
Note
CLSK has finally broke through that resistance with strong momentum. target remains $9.69 around late july-early august.
Note
from a resistance standpoint next is really around 7-9 dollar range. expecting pace of move to excellerate as mentioned in first post. Even when it hits that resistance the company will still be about 3x undervalued from a fundamental book value standpoint. CLSK is located in Georgia where the largest nuclear power is located in the United States. They will be tapping into this power which is clean energy. Not only does this attract institutional invesment because of the ESG narrative but it's also the most efficient energy to use. Momentum and trend intact and strengthening. Here's the 1D/ Note
Tweet from CleanSpark: What a weekend. We hit lucky number 7!!! 🎰 Then, got halfway to 8 in the blink of an eye. 👀
Our new #hashrate is 7.5 (EH/s)!
twitter.com/CleanSpark_Inc/status/1678086261075050498
As mentioned in first post, on pace to reach 10eh/s by the end of july-early august. This miner has been overlooked and underestimated greatly. Retail didn't like the dilution but did not factor in whether growth would outpace it, and it is.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.