CleanSpark, Inc. (CLSK) saw its stock soar 5.11% in pre-market trading on Thursday, riding the wave of enthusiasm in the cryptocurrency sector as Bitcoin broke through the $99,000 barrier. The surge in CleanSpark's stock price reflects the broader trend of crypto-related companies benefiting from Bitcoin's bullish momentum.
Bitcoin's price reached $99,012, marking a 2.53% increase over the past 24 hours. This milestone has ignited a rally across the crypto mining sector, with several companies experiencing significant gains. CleanSpark, known for its involvement in Bitcoin mining, was among the beneficiaries of this upward trend. Other companies in the sector also saw gains, with TeraWulf up 9%, Canaan up 7%, and companies like MicroStrategy, Riot Platforms, Coinbase, and Marathon Digital Holdings (MARA) all posting increases between 3% and 4%.
The positive sentiment in the crypto market comes as the Federal Reserve held interest rates steady, providing a stable economic backdrop for risk assets. As Bitcoin continues to gain traction and break new price levels, companies like CleanSpark that are closely tied to the cryptocurrency ecosystem are likely to see continued investor interest and potential for further growth. Investors will be closely watching Bitcoin's price movements and broader market conditions for further cues on the stock's performance in the coming trading sessions.
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