CleanSpark Stock Rises on Bitcoin-Backed Credit Deal
Dow Jones
Sep 23
Shares of CleanSpark rose after the company said it has increased its Bitcoin-backed credit facility with Coinbase Prime by $100 million.
The stock edged up 5.2%, to $14.45, in late trading on Monday. Shares are up 49% this year through market close.
The Bitcoin mining company said Monday the additional financing will be deployed into strategic capital expenditures, including expanding its energy portfolio, scaling its Bitcoin mining operations and investing in high-performance computing capabilities.
Chief Executive Matt Schultz said the company sees opportunity to accelerate its mining growth while optimizing its assets, particularly those near major metropolitan areas.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.