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CleanSpark (CLSK) Stock Sinks 6% Despite Bitcoin's 7% Jump, as Traders Weigh Skepticism Over Miners' AI Pivot
CleanSpark's shares fell to $11.84, while Marathon Digital (MARA) remained flat, down 0.1% to $11.14. This divergence occurred as investors reprice the miner-to-AI-landlord pivot with growing skepticism. Riot Platforms (RIOT) also saw its shares give back most of an initial 20% gain after announcing a $9.1 billion, 20-year computing deal with Anthropic. CleanSpark's mining revenue dropped 30.5% year-over-year in fiscal Q3 2026, with adjusted EBITDA swinging to negative $113 million, and its $6.6 billion Sandersville lease remains a promise rather than cash flow. The CoinShares Valkyrie Bitcoin Miners ETF (WGMI) also fell 3% despite Bitcoin's rally, indicating a broader market disconnect for the sector.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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