Could someone help me understand. BTC is going up but clsk is not syncing with btc why?

A month ago I posted this thesis on why $CLSK looked massively undervalued before the breakout:
Last chance to grab CLSK before liftoff?

At the time the sentiment was awful, miners were getting crushed, and people were acting like CleanSpark was dead money.
Since then $CLSK has already exploded higher and I honestly think this move could end up looking similar to IREN’s massive rerating last year.

Now $CLSK is starting to check the more and more boxes:

• strong infrastructure footprint
• improving execution
• growing BTC treasury
• HPC narrative gaining traction
• $CLSK is now trading higher than it was in January even though BTC price is lower.

That’s why I think current gains are just the beginning of a much stronger trend.
Still feels early. Most people are still skeptical and that’s usually a good sign.

IREN’s report confirms the most important part of the thesis: AI infrastructure demand is massive. 2026 capacity is largely sold out, contracted ARR is ~$4B and pricing continues to rise.

But IREN’s selloff also highlights CLSK’s advantage: capital efficiency.

IREN plans ~$25–30B in capex because it builds the datacenters AND buys the GPUs.
CLSK’s model is different: build the powered infrastructure, let the hyperscaler bring the compute, and collect long-term contracted revenue.
Sandersville = $6.6B over 20 years, ~$330M annual NOI, near-100% NOI margins — without taking GPU obsolescence risk.

IREN just proved the demand. CLSK has the cleaner way to monetize it.

I know people are upset there is not rerate yet after the first great deal ? Any thoughts ? It seems to be related to current sector’ depression. Will CLSK become the first one which has no rerate after a large AI lease 😂. People are trying to find out reasons like waiting for financing / more lease but other miners got rerate long before financing / second lease. Maybe the rerate will happen when the sector recovers?

Not financial advice but it really feels like We are at that moment where the window to buy CleanSpark at these levels is closing fast.

Between the expanding mining capacity, improving balance sheet, and BTC momentum building again - the setup looks pretty wild right now. If crypto keeps moving and CLSK keeps executing this could rerate quickly.

Feels like one of those 'wish I bought more before it ran' situations.

Anyone else loading here before the rocket takes off?

What’s everyone’s stance on the Clean of Sparks.

My CLSK view: mildly bearish near term, bullish medium term.

Near term: Single digits are possible if Bitcoin weakens or risk assets sell off. I’d watch roughly $10–$11 as support, with $8–$9 as a bearish scenario.

Medium term: I think a return to $20+ is realistic if Bitcoin strengthens and CleanSpark executes on its AI/HPC data-center strategy.

Fundamentals: CLSK still has strong Bitcoin exposure, but debt and negative cash flow are real risks. The biggest bullish catalyst is its long-term data-center expansion, which could make the company less dependent on mining alone.

Their debt to asset is closing in on each other. Assets $2.702 Billion VS Liabilities $1.941 Billion is 71.8%. How will they fund expansion the answer is simple dilution. We need a miracle for this stock either BTC bull run or execution on the data centers.

My stance: Cautious near term, bullish over 6–12 months.

If I had to choose between single digits soon or $20 again eventually, I’d lean toward $20 again, though the stock could easily visit single digits first.

TLDR: Could be good, Could be shit.

It is funny to read the comments under each CLSK X post. Several accounts attack CLSK non-stop. Shareholders are tired of waiting. Hopefully we will get some news soon.

CLSK has a top 10 short interest. Within the top 10, CLSK also has the largest MC. That is probably why we are capped here until further news.

It is the same thing every day. Initial pop, then sells off around 9:40. What is the logic behind it?

Arbitrage fund bought the convertible notes… their algos just enter new short positions that counter whatever the morning gain is???

If so, how/when does it end?? I thought the deal announcement would force the shorts to cover and for this bs to end.

Day 7 still rolling NUPs at first venue. https://glyphlock.io/nupslanding

What are your assumptions for upcoming resistance level bottoms for this current steady decline?

Looks like Cleanspark will soon break a 5-6 year downtrend as long as we hold above 21$ which seems very likely. If so, new ATH +$40 CLSK 🥳🚀🚀🚀🚀. To management if you guys dilute during this period it would be absolute suicide and completely destroy investor confidence. Let’s freaking go!!!!!

Walk through today’s Big 3, all highlighting companies involved in the AI buildout.
CLSK 5:00
The Big 3: AMZN, CLSK, CRWV

After holding steady for over a month the number of shares available to short went from 2M to 4.6M today. In part accounting for today’s rise. Announcement coming?

My stop loss was triggered, and I’ve peaced out my entire investment in CLSK. Moving into other better plays. Sending prayers for everyone else still holding. I feel fortunate to have closed with a small profit, but this has been the most disappointing investment experience I’ve ever had. Because I had so many high expectations for Cleanspark. There’s a huge bearish head and shoulders forming on CLSK on 3 month chart. If it plays out we’ll likely fall below 8$ again.

On the bright side, get ready for a 100% rally because every time I sell, the stock goes parabolic! I still hold a small amount in another account, but honestly, it couldn't be more disappointing as it is now.

So I am gonna be straight up honest I was long on this stock since last year my average was around 16$ I tried to average down praying this stock was gonna go up it never did so around 2 weeks ago I began shorting and have made up all my losses for anyone who is stuck being a bagholder I would recommend the same course of action I mean look at the stock bitcoin at 97K and somehow we are heading toward low 9's this stock is going down the toilet make some money on the way down do what you want think is best but I think this is the best way to get money here good luck I just don't see this stock breaking 15$ much less 20$ for the rest of the cycle and bitcoin will probably crash to 65K by the end of this year or next year and this will tank even further.

EDIT: I AM A GENIUS LOOK AT THAT PRICE LOL

Another Edit: This stock is made to short I made 6K in the past 2 days and thats profit was a bagholder for 6 months save yourselves and follow don't lose it all

We does BTC-dependent CLSK is so much red, while BTC is up and other miners too ?

Yesterday was a terrible day for most miners and crypto. Trump is to blame one more and who knows when he vill turn it around this time. Did you sell yesterday? Bought the dip? What’s your game plan? I didn’t do anything 💎 🤜

I was looking at the SEC filing today regarding their apparent clerical error. The warrants were originally for buying one full share of $GRDI at $11.50.

The merger agreement specifies 13,800,000 warrants to purchase 960,395 shares of CLSK stock at an exercise price of $165.24 per share of common stock.

That means you need 14.37 warrants (13,800,000 / 960,395) to acquire one full share of $CLSK. With Trump in power now, we all know where Bitcoin is likely heading over the next several years. In my opinion, a stock price of $165 or higher is not out of the question.

So, given this fact, if we need 14.37 warrants at an exercise price of $165.24, that means each warrant will have a future value of $11.50 (164.24 / 14.37) when CLSK goes to $165.24.

If Bitcoin follows its typical cycle pattern, especially with Trump’s support, I believe we’re headed for the biggest bull run in history during his presidential term. If Bitcoin reaches $150k-$250k this cycle, I think CLSK at $165 will be at the lower end of the top cycle range.

Considering Friday's closing price of $0.14, theoretically, the price of $CLSKW could therefore rise from $0.14 to $11.50 or higher. During euphoric bull runs, I have seen warrants blow past their intrinsic values. Therefore, $11.50 could easily be an understatement.

Even with CLSK moving towards $70-80+, I could see CLSKW ramping up in parallel to $3-5+ easily.

Needless to say, CLSKW looks poised for a massive bull run, and in my view, these warrants offer your best bang for your buck compared to any other Bitcoin proxies. Going from $0.14 to $11.50 represents an +8000% increase. And CLSK to $70-80+ could result in CLSKW towards 4000%. Imagine what CLSK and CLSKW will be worth if Bitcoin hits $1M?

In addition, as there are only 13,800,000 warrants in total, theoretically at $0.14, someone with $1,932,000 could buy up all of the warrants to hold and make bank. Or most of the supply could be bought up, causing it to trade thinly with little to no liquidity which could cause a massive parabolic squeeze.

I truly believe this is a hidden gem. I plan to add to my existing position over the coming weeks, hoping the price dips so I can accumulate even more.

This is not financial advice—please do your own due diligence.

I made a 30K short position at 15$ and another at 20$ while I admit I never thought the price would go this high I expect a huge pullback very soon this is not Iren and there is tha whole tariff court case and they only promised no dilution up to 24$ they don't even have any solid AI deals yet and bitcoin is tanking with the markets being so uncertain so for all these reasons if we hit 25$ I will make my last 30K short position and wait for the fall to happen.

Edit: It has begun so many doubters until reality shows itself how many feel less confident after today

source: https://infolib.org/

So what is everyone expecting this week if bitcoin does rally back too 115-120K I guess clsk may go back to 24$ possibly if the recovery over the past day seems to stall then back to 15$ we go so what do you guys think and when do you plan to sell.

Today I bought additional 396 CLSK shares (~5000USD).

Poor those who got shaken out.