CleanSpark jumps as Bernstein turns bullish on bitcoin miners’ AI data-center optionality

CleanSpark, Inc. (CLSK) is up 6.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to a bullish research call that highlighted upside for bitcoin miners with large power footprints as potential beneficiaries of AI data-center demand. With CLSK already discussing an expanded AI/HPC strategy, the note may have triggered renewed buying and some short-covering dynamics typical in the miner group.

Details:

Bernstein issued a positive view on several bitcoin miners, assigning CleanSpark an “Outperform” rating as the firm pointed to a growing wave of AI infrastructure deals and the value of secured power capacity.

CleanSpark’s most recent quarterly update outlined results for the quarter ended March 31, 2026, including a large net loss that the company tied largely to bitcoin price moves, keeping the stock highly sensitive to macro/sector narrative shifts.

In recent operational and investor materials, CleanSpark has emphasized its expanding power portfolio and flexibility to pursue AI/HPC alongside mining, which likely increased investor receptivity to the AI-driven thesis.

This could also be because bitcoin-miner equities often trade as a basket; a favorable sector call can lift multiple names even if company-specific news is limited on the day.

Sources:

The Block, SEC, Benzinga

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CLSK Insider Trading Activity

$CLSK insiders have traded $CLSK stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $CLSK stock by insiders over the last 6 months:

THOMAS LEIGH WOOD sold 85,315 shares for an estimated $997,110
AMANDA CAVALERI sold 33,000 shares for an estimated $495,660

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$CLSK Hedge Fund Activity

We have seen 157 institutional investors add shares of $CLSK stock to their portfolio, and 254 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

SITUATIONAL AWARENESS LP added 10,635,739 shares (+648.4%) to their portfolio in Q1 2026, for an estimated $90,510,138
DIMENSIONAL FUND ADVISORS LP added 6,323,715 shares (+81.3%) to their portfolio in Q1 2026, for an estimated $53,814,814
BLACKROCK, INC. removed 2,872,599 shares (-6.4%) from their portfolio in Q1 2026, for an estimated $24,445,817
RENAISSANCE TECHNOLOGIES LLC removed 2,581,482 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $21,968,411
HRT FINANCIAL LP added 2,302,069 shares (+inf%) to their portfolio in Q1 2026, for an estimated $19,590,607
VOLORIDGE INVESTMENT MANAGEMENT, LLC removed 2,299,020 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $19,564,660
CITADEL ADVISORS LLC added 2,104,687 shares (+inf%) to their portfolio in Q1 2026, for an estimated $17,910,886

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$CLSK Analyst Ratings

Wall Street analysts have issued reports on $CLSK in the last several months. We have seen 7 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Macquarie issued a "Outperform" rating on 05/13/2026
BTIG issued a "Buy" rating on 05/12/2026
HC Wainwright & Co. issued a "Buy" rating on 11/26/2025
Needham issued a "Buy" rating on 11/26/2025
Chardan Capital issued a "Buy" rating on 11/26/2025
B. Riley Securities issued a "Buy" rating on 11/26/2025
JP Morgan issued a "Overweight" rating on 11/24/2025

To track analyst ratings and price targets for $CLSK, check out Quiver Quantitative's $CLSK forecast page.

$CLSK Price Targets

Multiple analysts have issued price targets for $CLSK recently. We have seen 10 analysts offer price targets for $CLSK in the last 6 months, with a median target of $18.5.

Here are some recent targets:

Stephen Glagola from Keefe, Bruyette & Woods set a target price of $16.0 on 05/13/2026
Paul Golding from Macquarie set a target price of $22.0 on 05/13/2026
Matthew Galinko from Maxim Group set a target price of $22.0 on 05/12/2026
Gregory Lewis from BTIG set a target price of $26.0 on 05/12/2026
John Todaro from Needham set a target price of $18.0 on 05/04/2026
Brett Knoblauch from Cantor Fitzgerald set a target price of $14.0 on 04/09/2026
James McIlree from Chardan Capital set a target price of $16.0 on 04/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.