Close
$12.60
▲ 7.97% · +$0.93
After hours $12.48Volume 27.56MMkt cap $3.23B
CleanSpark Shares Surge 8% as Market Value Rises Sixfold Over Bitcoin Holdings
CleanSpark, Inc. gained roughly $238 million in market capitalization on Thursday. The shares ended the session at $12.60, rising 7.97%, while Bitcoin stood at $72,714.87 with a 4.98% increase at 21:19 UTC. Trading volume hit 27.56 million shares, about 17% higher than the three-month average.
NASDAQ: CLSK · Investor pulse
CleanSpark: Bitcoin rally meets AI option value
Market data: Aug. 20, 2026, 4:00:01 p.m. EDT
Bitcoin: Aug. 20, 2026, 21:19:01 UTC
Bitcoin: Aug. 20, 2026, 21:19:01 UTC
What the market priced today
Estimated equity value gain$238M
Preliminary BTC mark-up$40.6M
Equity gain / BTC mark5.9×
Volume vs 3M average117%
The Bitcoin mark assumes the June 30 holding value was unchanged. The gap points to additional pricing of operating leverage and AI data-center potential.
Crypto-linked tape
Bitcoin+4.98%
CleanSpark+7.97%
Riot Platforms+8.26%
MARA Holdings+15.54%
AI lease economics
Critical load175 MW
20-year revenue$6.6B
Average annual NOI~$330M
Delivery startsQ4 2027
Balance-sheet hinge
Cash$202.6M
Bitcoin value$814.9M
Long-term debt$1.78B
Debt / market cap55%
Latest quarter
Revenue$138.0M
Year-over-year change-30.5%
Net result-$239.8M
Adjusted EBITDA-$113.0M
The lease could reshape the earnings mix, but construction and financing arrive before contracted income.
Analyst setup
Buy13
Hold0
Sell0
Average target$23.58
Implied upside87.1%
Target range: $19-$27. Clear Street reiterated Buy with a $22 target on Aug. 18.
Riot Platforms Shares Slide 5.5% After $9.1 Billion AI Deal Surpasses Market Cap
Shares of Riot Platforms, Inc. dropped 5.5% to $18.94 on Tuesday. The company’s recently announced $9.1 billion AI deal is now larger than its preliminary market capitalization of $7.47 billion, based on 394.4 million shares and the current share price. This is a non-discounted comparison.
NASDAQ: RIOT · investor dashboard
Value of AI contracts surpasses that of equity
Riot's 20-year lease in Rockdale shifts the valuation focus. The importance now lies in delivery schedules and construction performance rather than the overall size of the contract.
Live share price
$18.94▼ 5.5% today
August 18, 2026 · 14:15 EDT · U.S. market open
Initial market capitalisation
$7.47B
$18.94 × 394.4M shares
Base value for AI lease
$9.1B
122% of preliminary market cap
Committed IT capacity
241 MW
191 MW frontier lab + 50 MW AMD
Initial significant shipment
Dec. 2027
96 MW; full 191 MW due June 2028
Value bridge · Billions of USD
$7.47B$9.1B$7.3–8.2B Market capBase revenueBase NOI estimateContract totals are nominal and span 20 years. They are not present values.
Economics of the contract
| Lease | MW | Base term | Avg. annual revenue | $/MW-year |
|---|---|---|---|---|
| Frontier AI lab | 191 | 20 years | $455M | $2.38M |
| AMD initial phase | 25 | 10 years | $31.1M | $1.24M |
The 191 MW lease represents 79% of Riot’s contracted IT load.
Q2 revenue breakdown · Total $174.2M
Bitcoin mining65.3%
Engineering21.4%
Data center13.3%
Data-center revenue was $23.2M. The projected annual NOI from the new lease is roughly 3.9–4.4× that figure annualized.
Overview of peer trading
RIOT-5.5%
CLSK-6.4%
WULF-11.2%
CIFR-11.5%
Nasdaq real-time quotes at 14:15–14:16 EDT on August 18, 2026.
Analyst recommendations selected
| Firm | View | Target | Date | Implied upside |
|---|---|---|---|---|
| BTIG | Buy | $40 | Jun. 24 | 111% |
| Clear Street | Buy | $38 | Jun. 3 | 101% |
| KBW | Buy | $37 | Jun. 9 | 95% |
| Bernstein | Buy | $30 | Jul. 1 | 58% |
| Citi | Buy | $28 | Jul. 8 | 48% |
Upside uses the $18.94 intraday price. These targets predate the August 10 lease announcement.
Key milestones to monitor
Nov. 2026
10 MW AMD upgrade expected
May 2027
AMD set to complete full 50 MW presence
Dec. 2027
Initial 96 MW AI phase expected
Jun. 2028
Complete 191 MW AI rollout scheduled
Key takeaway for investors
Bull case: contracted NOI could approach current equity value.Key uncertainty: material AI cash flow starts in late 2027.Risk: construction, financing, tenant concentration and bitcoin exposure.
Riot Platforms (RIOT) Rises as $9.1 Billion AI Deal Sets Higher Benchmark for Delivery
Shares of Riot Platforms, Inc. rose on Tuesday following its signing of a record data-center lease. The 20-year deal secures 191 megawatts in Rockdale, Texas. Riot projects base revenue of $9.1 billion.
Riot Platforms Stock Jumps on $9.1 Billion AI Lease Reportedly With Anthropic
Riot Platforms signed its biggest AI infrastructure contract yet. The 191-megawatt Rockdale lease carries $9.1 billion of expected base revenue.
MARA Shares Fall Alongside Bitcoin as Lower Treasury Beta Poses Q2 Challenge
MARA Holdings, Inc. declined 2.7% on Friday afternoon. Bitcoin dropped 2.5%, and two leading mining peers posted larger losses. The smaller drop comes after a significant balance-sheet adjustment in the first quarter.
MARA Holdings (NASDAQ:MARA) Edges Near $11 in Premarket on Bitcoin Recovery and Strategy Shift
NEW YORK, July 29, 2026, 08:07 EDT — Ahead of the U.S. market open, MARA Holdings approached $11, tracking Bitcoin’s rebound as attention turns to the company’s evolving energy strategy.
MARA Holdings (NASDAQ:MARA) trades flat after AI lease deal shifts value outlook
MARA Holdings, Inc. shares slipped 0.1% to $12.18 in afternoon trading Tuesday. The stock lagged behind bitcoin’s 4.2% bounce and a 10% surge in CleanSpark, which got a lift as investors cheered its power-to-data center revenue shift.
TeraWulf heads into July 6 after shares drop 26% as AI data-center trade falters
TeraWulf Inc is under more pressure than the daily chart suggests. Shares finished down 10.18% at $21.18 on Thursday, the last regular session before the Independence Day break. The stock has now lost 26.4% over seven consecutive losing sessions since closing at $28.78 on June 23. Nasdaq’s holiday calendar for 2026 lists July 3 as a closure for Independence Day observed.
MARA stock: Long Ridge power deal in focus as bitcoin slides in holiday week
MARA Holdings, Inc. heads into a shortened U.S. trading week with a clearer issue for investors: is the stock mostly a bitcoin play, or has it started to trade more on its power assets?
MARA Shares Drop as Miner Selloff Hits Bitcoin-Linked Stocks
MARA Holdings shares lagged Wednesday, dropping about 3.9% to trade near $12.79. The stock opened at $13.22 and dipped as low as $12.76. That fall outpaced Bitcoin, which was last seen near $62,160 and traded between $60,834 and $62,734. Traders sold off crypto miners more broadly as risk appetite faded. MARA had ended the previous session at $13.31.
Marathon Digital Shares Fall as Bitcoin Move Renews Focus on AI Strategy
MARA Holdings shares dropped Tuesday afternoon, tracking bitcoin as it slipped under $62,000. That pulled pressure back onto miners, with revenue and balance sheets still tied to bitcoin’s moves.
IREN Shares Rally After Bitcoin Rebound and $4.4 Billion AI Data Center Move
IREN Limited clawed back some ground Monday, with shares up to $59.19 near the market close. Investors came in after a rough week for crypto and AI infrastructure stocks. IREN picked up $4.84 compared to Friday, and trading topped 40 million shares.
Bitcoin Drops as ETF Outflows Mount, $60,000 Support Weakens
Bitcoin hovered around $60,719 on Saturday, rebounding after a slip under $60,000 the day before, with a session low of $59,630. Prices fell to levels traders hadn’t seen since late 2024, with many on watch to see if this weekend’s move above $60,000 can stick.
Marathon Digital Drops as Bitcoin Tops $70,000; Eyes on AI Push
MARA Holdings stock dropped Tuesday with bitcoin sinking below $70,000. The move adds pressure to the miner, which has been telling investors it is now more than just a leveraged play on bitcoin.
Marathon Digital stock dips as Bitcoin slide draws focus to AI push
MARA Holdings shares slipped Thursday afternoon, lagging other bitcoin miners. The latest slide in bitcoin put the focus back on MARA’s large bitcoin holdings.
MARA Stock Just Jumped — Now Its $1.5 Billion AI Power Bet Faces a Test
MARA Holdings shares edged lower before Thursday’s open, pausing after a 5.7% jump in the prior session as investors weighed fresh insider filings against the bitcoin miner’s push into power-backed AI infrastructure. The stock closed Wednesday at $13.15 and was indicated at $13.10 in pre-market trading at 8:02 a.m. EDT.
CleanSpark rises after Wall Street notes AI power angle
CleanSpark shares rose more than 9% late Tuesday, among the few gainers in a soft U.S. session after Bernstein pointed to bitcoin miners with hefty grid power as key for AI data centers. The stock traded up 9.3% to $14.69, after hitting $14.93 earlier.
Riot Platforms’ AI spending puts pressure on Bitcoin investors
Riot Platforms is trying to shift from bitcoin mining to being an AI data-center landlord, but now it has to show that its power deals, land, and nuclear project can actually bring in tenants. Shares most recently traded at $23.49 ahead of the Nasdaq open, putting the company’s market cap near $8.2 billion.
Bitcoin Price Today: BTC Nears $76,000 Test as ETF Demand Rebounds, Miner Selling Caps Rally
Bitcoin hovered around $74,400 on Tuesday, backing away from a four-week peak. Last week’s data pointed to renewed flows into U.S. bitcoin ETFs, and Strategy revealed a fresh $1 billion buy. The surge put the token back into the $74,500 to $76,000 band—levels that have recently capped upward moves.
Crypto Stocks to Watch Today: MARA Bucks Selloff as Bitfarms, HIVE, CleanSpark, Riot, Bitdeer and Galaxy Stay in Focus
Crypto-related stocks went their separate ways Thursday. Shares of MARA climbed 3.7% in the afternoon, following news that the company unloaded 15,133 bitcoin to help pay for a debt buyback. Bitcoin itself slipped 3.8% to around $68,201. Elsewhere, CleanSpark, Riot Platforms, Bitfarms, HIVE Digital and Galaxy Digital all dropped between 5% and 10%. Bitdeer barely moved.
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