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 …