JP Morgan has upgraded CleanSpark Inc (CLSK) to Overweight from Neutral, a move that reflects a more optimistic outlook on the company's future prospects. The upgrade, effective November 23, 2025, comes as CleanSpark continues to establish itself in the bitcoin mining technology sector, managing data centers across the United States.
Headquartered in Henderson, Nevada, CleanSpark operates approximately 188,500 bitcoin mining machines, achieving a hashrate capacity of around 27.6 EH/s. The firm is responsible for a total contracted power capacity of approximately 853 megawatts (MW) across its locations in Georgia, Mississippi, Tennessee, and Wyoming. As of November 20, 2025, the company boasts a market capitalisation of $3.0 billion, a price-to-earnings (P/E) ratio of 9.93, and an earnings per share (EPS) of 0.89.
Analysts’ ratings are based on extensive research and financial modelling, providing insights that may influence investor decisions. However, it is crucial to consider various factors such as company fundamentals, competitive positioning, and industry trends when evaluating these assessments. Analyst opinions can vary and are subject to change as new information emerges.
Upcoming earnings for CleanSpark are scheduled for August 5, 2026, with estimates of $0.20 EPS and $283.1 million in revenue, following a strong performance in Q3 2025 where the company reported an EPS of $0.77, significantly surpassing the estimate of $0.28.
This upgrade underscores the growing confidence in CleanSpark's strategic direction and operational capabilities, as reflected in the broader analyst consensus, which currently includes 5 Strong Buy, 11 Buy, and 3 Hold ratings.
This brief was generated from structured financial data and reviewed by the Investing Point editorial team. It is for informational purposes only and does not constitute investment advice.