Shares of CleanSpark, Inc. (CLSK), a sustainable bitcoin mining company, soared 5.12% in pre-market trading on Monday. The stock's surge was fueled by the broader rally in cryptocurrency markets, particularly Bitcoin's ascent to a record high above $106,000.
Bitcoin, the world's largest cryptocurrency, skyrocketed after President-elect Donald Trump hinted at plans to create a U.S. bitcoin strategic reserve, akin to the nation's strategic oil reserve. This news ignited enthusiasm among crypto bulls, driving Bitcoin's price to a fresh all-time high of $106,533.
As a Bitcoin mining company, CleanSpark's fortunes are closely tied to the performance of the digital asset. The company's stock benefited from the positive sentiment surrounding Bitcoin, as investors anticipate favorable regulatory changes under the incoming Trump administration.
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