Focus points: Who is adding longs, who is covering shorts; in the short term, it's about speculation, but in the long term, it's still about computing power, costs, and cash flow.

CleanSpark (Nasdaq: CLSK) has the largest share of short open interest among Bitcoin mining and treasury companies, with short positions representing 34.89% of the free float and 4.71 days to cover, according to the source analysis. The stock traded at $11.42, up from $8.18 at the end of March,