I have got my site up and running and I am getting over 1000 clicks a week from the same IP. It does not bother me. Am I benifiting at all in this situation? Possibly getting my page ranking up or anything? Please let me know how I am benifiting if at all? It is classified as a "hit" not visit. And it is only on my home page.
if you are using adsense you will probably be banned quite soon as the clicks will eventually be regarded as fraudulent
No you're not benefiting from the situation. If the user is delibrately clicking on your ads, then I would suggest you ban the IP and report the IP to adsense, if you're using adsense.