On July 2, CleanSpark declined 8.37% in regular trading, trading at $12.485/share, with turnover of $169 million. The stock continued its downward trajectory amid persistent weakness in the broader cryptocurrency market.
On the news front, Bitcoin has fallen below the $59,000 level, triggering broad-based selling across crypto-related equities. Market data revealed that over 550,000 BTC were transferred to deposit accounts at Binance and OKX, far exceeding average daily levels. Analysts noted that transfers of this magnitude are typically interpreted as a precursor to liquidation or collateral financing activity, carrying particularly negative implications during price downtrends. The loss-realization cycle, ETF fund outflows, and defensive options positioning have continued to suppress market sentiment.
Within the sector, fellow crypto miner IREN Ltd fell 11.91%, while Strategy rose 7.32%. CleanSpark reported fiscal Q2 revenue of $136.4 million, missing estimates, with a loss of $1.52 per share versus the $0.50 expected loss. The company held 13,561 BTC as of March, with peak hashrate reaching 50.0 EH/s.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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