The Stock Skyrockets by 331.37% Year-to-Date: Is CLSK the Top Mining Stock?
As Bitcoin surpasses the $40,000 mark, related concept stocks are also rising sharply. In the previous article, we mentioned $Coinbase Global, Inc.(COIN)$ has seen an impressive 290% increase in its stock value this year.
Here is another Bitcoin mining stock, $CleanSpark, Inc.(CLSK)$, has surged by 331.37% year-to-date, significantly outperforming the SPY and the QQQ.
Curious about how investors are profiting? Let's find out!
Congratulations to @SPACE ROCKET for achieving a profit of over $30,000 through the purchase of common stocks, with a remarkable return rate of 43.33%!👏👏👏
As of October 31, 2023, CleanSpark mined 633 BTC in October 2023, increasing its BTC stack to 2,311. The company deployed nearly 89,000 operational Bitcoin mining machines, surpassing the milestone of 10 EH/s.
Many Bitcoin experts predict that after the Bitcoin halving in April 2024, due to supply shocks, the amount of mineable BTC per block will decrease from 6.25 every 10 minutes to 3.125. This is expected to lead to a surge in Bitcoin prices.
Compared with $Marathon Digital Holdings Inc(MARA)$ and $Riot Blockchain, Inc.(RIOT)$, $CleanSpark, Inc.(CLSK)$’s profit margin is indeed the highest at 43.8%. Its profitability surpasses its peers by over 19%, especially when compared to Marathon.
However, while the CLSK stock price may experience a decline in the coming weeks, if cryptocurrency bulls continue to press the buy button, it should continue to rise over the next few quarters.
The cryptocurrency bull market is not perpetual and typically ends around 500 days after the Bitcoin halving event. This implies that the CLSK stock price might peak around September 2025.
If you are looking for relatively inexpensive cryptocurrency stocks with significant upside potential, CleanSpark is one of the best Bitcoin mining stocks.
🎁Rewards：
Feel free to share your $CleanSpark, Inc.(CLSK)$ positions in the comment section for a chance to win Tiger Coins!
If you've achieved profits from other potential stocks we don’t know, kindly share your trading strategies in your post, and remember to include the topic "Winning Trades". Hope you'll be the next one to make it onto the leaderboard~
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