At the same time, increased electricity demand from those operations can put extra strain on already-stressed power grids. CleanSpark (NASDAQ: CLSK) fell 9. Second quarter revenue of 42.5 million, GAAP net loss of (18.5) million. CleanSpark Reports 22 Increase In Bitcoin Mined For Q1 2023 And Provides Washington Expansion Update. Meanwhile, blockchains that support crypto assets now use more energy than many countries, including Argentina and Australia, according to the report.Īir, noise, and water pollution from crypto mining operations can hurt the environment and “exacerbate environmental justice issues for underserved communities,” the document says. CleanSpark Reports Second Quarter FY2023 Financial Results. Despite the recent wider downturn in the mining industry, CleanSpark has seen a remarkable expansion from just 2.1 EH/s in January 2022, to 6.2 EH/s in December 2022. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. now does 38% of the world’s Bitcoin mining, compared with 3.5% in 2020. A high-level overview of CleanSpark, Inc. Bitcoin miners have an important role to play in decarbonizing. We strive to be the leading Bitcoin miner by integrating key ESG criteria into our business operations and by being completely transparent with our stakeholders. Bitcoin and Ether are the world’s first- and second-biggest tokens, respectively.Īccording to statistics cited Thursday by the White House, the U.S. CleanSpark is committed to advancing responsible Bitcoin mining practices as we build the infrastructure of the future. CleanSparks VP of Mining Technology (and immersion cooling whiz) Taylor Monnig. Shares of microcap energy infrastructure software and technology provider CleanSpark - Get Free Report dropped nearly 10 Thursday after the company fired back at a short seller report from Culper. The Ethereum network is set to undergo a major software upgrade this month, known as the Merge, that will transition the blockchain to a less energy-intensive approach. Read More: Fact-Checking 8 Claims About Crypto’s Climate Impact Software upgrade Since early 2021, American government agencies have launched a series of efforts related to global warming.Ĭreating new coins and validating transactions on the Bitcoin and Ethereum blockchains involves an energy intensive process in which multiple computers compete to solve complex math puzzles, with the winner adding new verified transactions to the blockchain in exchange for token rewards. The Short-Term Technical score evaluates a stock's trading pattern over the past month and is most useful to short-term stock and option traders.The conclusions released on Thursday dovetail with the Biden administration’s focus on mitigating climate change. CleanSpark Inc currently has the 75th highest Short-Term Technical score in the Software - Infrastructure industry. This means that the stock's trading pattern over the last month have been neutral. CleanSpark, Inc. If you havent sold CLSK here: Then analyzing the options chain and the chart patterns of CLSK CleanSpark prior to the earnings report this week, I would. The overall score is a great starting point for investors that are beginning to evaluate a stock.ĬLSK gets a average Short-Term Technical score of 60 from InvestorsObserver's proprietary ranking system. EST, after the company announced that it is acquiring ATL Data Centers, a bitcoin miner. InvestorsObserver's overall ranking system is a comprehensive evaluation and considers both technical and fundamental factors when evaluating a stock. If a large number of investors decide to short sell an equity instrument within a small period of time, their combined action can significantly affect the price. Shares of CleanSpark ( CLSK -4.76) have popped today, up by 13 as of 12:15 p.m. Pre-market tends to be more volatile due to significantly lower volume as most investors only trade between standard trading hours.ĬLSK has a roughly average overall score of 63 meaning the stock holds a better value than 63% of stocks at its current price. CLSK stock closed at $4.32 and is up $0.23 during pre-market trading.
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