CleanSpark Gains Buy Rating and $20 Target on Meta Lease

Canaccord Genuity initiated coverage of CleanSpark Inc. (CLSK) with a Buy rating and a $20.00 price target. The target implies approximately 129% upside from the stock’s previous close. Shares previously closed at $8.75 and have fallen 48% over the past year.

Canaccord’s positive outlook centers on CleanSpark’s strategic shift from bitcoin mining toward artificial intelligence (AI) data center colocation. The firm highlighted a 20-year lease agreement with Meta at CleanSpark’s Sandersville, Georgia, facility. The agreement is valued at approximately $6.6 billion over its initial term. Analysts say the deal reduces risk for the company’s first major AI data center project.