JPMorgan Chase has downgraded CleanSpark (NASDAQ: CLSK) from "overweight" to "neutral," citing valuation concerns. The investment bank also reduced its target price for the Bitcoin mining company from $15 to $14. CleanSpark's stock, currently trading at $13.68, has surged 68% over the past six months, with technical indicators suggesting it is "overbought." Despite the downgrade, CleanSpark remains a significant player in the Bitcoin mining sector, boasting a hashrate of 50 exahashes per second, placing it among the top four publicly traded mining companies. The company has a market capitalization of approximately $3.85 billion and reported a revenue growth of 84.7% over the past year. Additionally, CleanSpark has expanded its Bitcoin-collateralized credit line with Coinbase Prime to $400 million and made adjustments to its management structure. JPMorgan indicated that its decision was not due to operational issues but rather a preference to wait for a stock price correction before adopting a bullish stance.