"CleanSpark's hyperscaler conversations have notably progressed since earlier in fiscal year 2026, with only a few sticking points still in negotiations. That puts CleanSpark in the running to convert raw megawatts into long-duration tenant revenue."
"Power capacity is the binding constraint for hyperscaler AI buildouts, and CleanSpark's mining sites already sit in low-cost grids with utility relationships."
Needham raised CleanSpark's price target to $18 from $17 while maintaining a Buy rating. The company is in advanced discussions with a direct investment-grade hyperscaler customer for its data center capacity. This shift positions CleanSpark as a potential AI infrastructure host rather than just a Bitcoin proxy. The company has made significant progress in negotiations, with a portfolio exceeding 1.8 GW of power and data center capacity. CleanSpark's Q1 FY2026 revenue missed expectations, but its stock has risen 41% recently.
Read at 24/7 Wall St.
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