CleanSpark Inc (NASDAQ:CLSK) shares are trading higher in Monday’s after-hours session after the company announced new financing to scale Bitcoin (CRYPTO: BTC) mining operations and energy portfolio.
CLSK shares are powering higher after hours. See what the experts say here.
What To Know: After the market close on Monday, CleanSpark announced that it expanded its capital strategy by increasing its Bitcoin-backed credit facility with Coinbase Prime by $100 million.
The additional $100 million in financing will be deployed into strategic capital expenditures that include expanding the company’s energy portfolio, scaling mining operations and investing in high-performance computing capabilities.
“We are proud to expand our relationship with Coinbase Prime as we continue to add megawatts to our portfolio and take steps toward alternative use cases for some of our data centers,” said Matt Schultz, chairman and CEO of CleanSpark.
“We see tremendous opportunity to accelerate mining growth while simultaneously optimizing our assets, particularly those near major metro centers and in our immediate pipeline, through the potential development of high-performance compute campuses.”
CleanSpark was previously reluctant to expand its operations beyond Bitcoin mining. The move into more diversified compute opportunities appears to be pushing shares higher after the bell.
CLSK Price Action: CleanSpark shares were up 5.53% in after-hours, trading at $14.50 at the time of publication on Monday, according to Benzinga Pro.
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