B.Riley: Bitcoin miner CleanSpark (CLSK.US) accelerates expansion, first assigned a "buy" rating.

B. Riley has initiated coverage of bitcoin miner CleanSpark (CLSK.US) with a "buy" rating and a target price of $16. In their research report, B. Riley stated that CleanSpark should be able to continue to achieve its growth targets in the next 12 months. CleanSpark achieved its mid-year operating hash rate target of 50 EH/s ahead of schedule on June 24, becoming the first publicly traded bitcoin miner with fully self-operated infrastructure to reach this scale. The operating hash rate increased by 9.6% compared to the previous month, further improving the company's energy efficiency to 16.15 J/Th. CleanSpark is a bitcoin mining company that independently owns and operates data centers across the United States, located in Georgia, Mississippi, Tennessee, and Wyoming. As of the close of trading on Tuesday, CleanSpark was up 3.63% to $12.84. The stock has gained 39% year-to-date thanks to the surge in bitcoin prices.