Bitcoin Mining Stock CleanSpark Is Tumbling Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
CleanSpark Inc (NASDAQ:CLSK) shares fell 12% after the company reported a decrease in Bitcoin mining for August. Despite a slight increase in hashrate, the company mined fewer Bitcoins compared to July. CleanSpark is expanding its data center capacity, which is expected to boost future production.
September 03, 2024 | 3:24 pm
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CleanSpark's stock dropped 12% after reporting a decrease in Bitcoin mining for August. The company mined 478 Bitcoins, down from 494 in July, despite an increase in hashrate. CleanSpark is expanding its data center capacity, which may improve future production.
The decrease in Bitcoin mining output for August, despite an increase in hashrate, likely led to the 12% drop in CleanSpark's stock price. Investors may be concerned about the company's current production efficiency. However, the planned expansion of data center capacity could improve future output, which may mitigate some concerns.
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