CleanSpark Inc

CLSK remains in a Stage 4 decline with a clear lower-high/lower-low sequence and distribution bias. The medium-term bias is bearish, with price below declining EMAs and the 50-day SMA. Short-term price has bounced off the 200-day SMA but stays under the 9/20 EMAs, offering no strong execution edge now. We will defer selling (Trim) and await a pullback into the EMA zone for a more favorable entry.

• ↑AI infrastructure pivot leverages 1.8GW contracted capacity for HPC demand.
• ↑Revenue jumped to $766M in 2025, over 100% YoY growth.
• ↓Q2 2026 revenue fell 25% YoY to $136M amid price headwinds.