CleanSpark Major Potential CleanSpark Inc - NASDAQ:CLSK
This is a unique mid tier BTC miner that is edging ahead of Cipher Mining in terms of size, production and reserves held (See below for the pecking order of 4 BTC miners).
The CLSK Trade
- Ideal entry would be bounce off 200 DSMA
- Risk/Reward from here is 5.55 which is not bad
- Stop Loss placement at 200 DSMA or POC
Chart Positives
- High Volume is ideal signifying increased interest
,float and momentum
- Price above POC
- Price above 200 DSMA
- Pennant price congestion reaching its decision
point
The Pecking Order for BTC Miners covered to date
1. Marathon Digital NASDAQ:MARA have 156,600 rigs & mined 825 BTC in Mar 2023 (12,964 BTC Reserves)
2. Riot Platforms NASDAQ:RIOT have 95,904 rigs and mined 592 Bitcoin in June 2023 (6,696 BTC reserves)
2. Clearspark NASDAQ:CLSK have 87,936 rigs and mined 575 Bitcoin in July 2023 (1,061 BTC reserves)
3. Cipher Mining NASDAQ:CIFR have 70,000 rigs and mined 493 bitcoin in May 2023 (518 BTC reserves)
Clearspark has earned its place above Cipher mining however both companies have been investing much of their Bitcoin into expanding their production lines this year which is why they have lower reserves than the likes of the well established RIOT.
We will need to keep a close eye on both going forward as they both fully intend to continue to expand. I am already invested in NASDAQ:CIFR with a small initial position (previously shared a chart on this).
I'll be looking for NASDAQ:CLSK exposure between here and the 200 DSMA. The risk reward is reasonable and the chart is attractive.
PUKA
