
CleanSpark (CLSK) is downgraded from 'Strong Buy' to 'Buy' due to near-term lack of catalysts and anticipated capital needs. The recent $6.6B, 20-year triple-net lease for 175 MW at Sandersville validates strong AI data center demand and recurring revenue potential. Significant upside remains if additional 885 MW Texas capacity is leased, but energizing facilities and grid constraints may delay catalysts.










