CleanSpark just got a whale-sized vote of confidence

Big money says “show me more”

CleanSpark just picked up a very loud fan: Leopold Aschenbrenner’s Situational Awareness hedge fund. In its latest 13F, the fund said it owned 12.28 million CLSK shares as of March 31 — a massive jump from 1.64 million shares at year-end.

That’s not a polite little nibble. That’s a full-on conviction trade, with the position value swelling to about $104.5 million from $16.6 million.

Why this matters

Investors tend to pay attention when a smart-money fund throws this much weight behind a name, especially one like CleanSpark that’s trying to become more than just a bitcoin miner with a hard hat.

The company has been leaning into AI infrastructure and high-performance computing, and the bull case is basically: if the data center pivot works, CLSK might get to wear two hats — crypto miner and digital infrastructure play.

The setup, in plain English

CleanSpark’s latest update said it has:

• more than 1.8 gigawatts of power, land, and data centers
• 585 megawatts of ERCOT-approved capacity
• 18% year-over-year growth in average monthly hashrate

Translation: it’s still very much in the bitcoin game, but it’s also building optionality for the AI boom. That’s the kind of story Wall Street loves when it wants a little more narrative with its numbers.

Meanwhile, the stock’s doing the happy dance

CLSK was up 7.15% to $15.75 on heavy volume, which suggests traders liked the smell of all this attention. Could it keep ripping? Sure. But after a big run, momentum stocks can start acting like they just drank three cold brews — energetic, but a little twitchy.

Big picture: this is less about one hedge fund filing and more about the market deciding CleanSpark might be a better story than a plain-vanilla miner.