CleanSpark Inc (NASDAQ:CLSK) shares are trading higher Monday afternoon as Bitcoin (CRYPTO: BTC) climbed above $74,000, a move that directly benefits the company’s core business. Here’s what investors need to know.
CleanSpark shares are trending higher. Why is CLSK stock advancing?
CleanSpark Business Model Explained
CleanSpark is primarily a Bitcoin miner: it owns, leases and operates data centers and power assets across Georgia, Tennessee, Mississippi and Wyoming, and says Bitcoin mining has historically been its principal revenue-generating activity.
As of Feb. 28, CleanSpark reported a peak operational hashrate of 50.0 exahash per second, with an average operating hashrate of 43.2 EH/s and about 235,588 miners deployed across its fleet.
Why Rising Bitcoin Prices Matter For CleanSpark
The company’s business model makes rising Bitcoin …Full story available on Benzinga.com
