254M (Stocks premium) / 152M (38M X 4 quarters) = 1.67 🤯... this is super cheap.
Now lets calculate the companies Enterprise Value to Earnings Value 👇🏼
2.12B / 0.152B = 13.94
Even at todays prices CLSK is undervalued and should find support any day now.
Now imagine a world where Bitcoin trades +100K, this company's earnings will explode due to their low cost of mining bitcoin.
Many reading this maybe wondering why I have included the S21's as an asset and not a depreciating asset. This is because it is impossible to get your hands on the device with it being sold out everywhere! The higher the price of Bitcoin trades, the higher the cost of a secondhand device sells for. This is why CLSK is so heavily correlated to the price of Bitcoin.
This is just some napkin math which explains how this company is undervalued and any move in Bitcoin can send it higher by a 2/3X multiple of Bitcoins volatility.
Euphoria will return to this stock and Q4 is when I expect it to kickstart.