CleanSpark Inc (NASDAQ:CLSK) shares are trading higher on Thursday as the company announced a proposed offering of senior secured notes.
The company’s wholly owned subsidiary, CSDC Finance I LLC, plans to privately offer $2.227 billion of senior secured notes due 2031, subject to market conditions.
Proceeds will fund the remaining construction costs of the Sandersville Facility, reimburse certain prior equity contributions and fund debt service reserves.
Last week, the company said construction is progressing at its Sandersville data center campus, backed by $6.6 billion in contracted revenue. ERCOT conditionally classified 585 megawatts of contracted capacity for batch zero baseload designation. It also classified 300 megawatts for batch zero studied load designation.
CLSK Technical Analysis: Key Levels And Momentum
With the stock at $12.97, CleanSpark is trading 3.7% above its 20-day SMA ($12.51) and about flat versus its 50-day SMA ($12.94), suggesting the near-term trend is stabilizing after recent chop. The bigger hurdle is still overhead: shares are trading 7.6% below the 100-day SMA ($14.03), keeping the intermediate trend from fully turning up.
Momentum is fairly balanced, with RSI at 52.27—neutral territory that usually lines up with range trading rather than a stretched, one-way move. In that kind of setup, traders often focus more on clean breaks of nearby levels than on "overbought/oversold" signals.
The moving-average structure is mixed: the 20-day SMA remains below the 50-day SMA (a bearish near-term alignment), but the 50-day SMA is still above the 200-day SMA after the June golden cross. That combination often produces a "two-speed" chart where rallies can work, but they tend to need follow-through to clear intermediate resistance.
- Key Resistance: $13.50 — a nearby pivot/round-number area where rebounds can stall before the stock can work back toward the 100-day average zone
- Key Support: $11.50 — a nearby prior demand area that sits below the 20-day/50-day cluster and would be a key line to hold if momentum fades
CLSK Earnings Preview And Analyst Price Targets
Looking further out, the next major catalyst for the stock arrives with the November 24, 2026 (estimated) earnings report.
- EPS Estimate: Loss of 41 cents (Down from loss of 1 cent YoY)
- Revenue Estimate: $134.28 million (Down from $223.65 million YoY)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $24.22. Recent analyst moves include:
- Chardan Capital: Buy (Maintains Target to $21.00) (Aug. 10)
- Cantor Fitzgerald: Overweight (Maintains Target to $26.00) (Aug. 7)
- B. Riley Securities: Buy (Raises Target to $26.00) (Aug. 3)
How CleanSpark Ranks On Momentum Versus The Market
Below is the Benzinga Edge scorecard for CLEANSPARK, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Neutral (Score: 53.29) — The stock’s trend profile is middle-of-the-pack, lining up with the current "stabilizing but not breaking out" chart setup.
The Verdict: CLEANSPARK’s Benzinga Edge signal reveals a momentum-neutral profile right now, suggesting the stock may need a clean catalyst or technical breakout to become more directional. With only Momentum scored in the dataset, the chart levels ($13.50 resistance and $11.50 support) matter more than factor-style positioning for near-term decision-making.
CLSK ETF Exposure: Funds With The Biggest Weighting
- CoinShares Bitcoin Mining and Digital Power ETF (NASDAQ:WGMI): 4.69% Weight
- Schwab Crypto Thematic Natural Language Processing ETF (NYSE:STCE): 4.47% Weight
- State Street Galaxy Hedged Digital Asset Ecosystem ETF (NASDAQ:HECO): 7.42% Weight
Significance: Because CLSK carries such a heavy weight in these funds, significant inflows or outflows will likely force automatic buying or selling of the stock.
CLSK Stock Price Action Thursday
CLSK Stock Price Activity: Cleanspark shares were up 0.94% at $12.91 at the time of publication on Thursday, according to Benzinga Pro data.
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