CleanSpark, Inc. (NASDAQ:CLSK) plans to acquire 447 acres of land in Texas for a large-scale data center for AI and HPC workloads. The data center will have 300-600 megawatts of power capacity and is expected to close in Q1. Northland initiated coverage with an Outperform rating and $22.50 price target.

CleanSpark CEO Matt Schultz highlights the increasing demand for AI-native compute and access to high-quality power at scale. The company is shifting focus from Bitcoin mining to hosting HPC and AI workloads. Northland’s positive rating reflects confidence in CleanSpark’s expansion into HPC and AI data centers.

CleanSpark Inc. (NASDAQ:CLSK) is a leading US Bitcoin mining and digital infrastructure company that designs, builds, and operates large-scale data centers for Bitcoin mining, AI, and HPC workloads. The company is exploring opportunities in AI stocks with greater potential and less downside risk.

For more stock recommendations, check out Insider Monkey’s articles on the Top 10 Materials Stocks to Buy According to Analysts and 10 Best Organic Food and Farming Stocks to Buy Now. This article is originally published on Insider Monkey.

Read more at Yahoo Finance: Cleanspark Inc. (CLSK) Expands in Texas in Pursuit of AI and HPC Opportunities