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      CleanSpark, Inc. (CLSK) stock is jumping high to 5.56% – What’s influencing it? - Stocks Telegraph

      By Mahrukh Rehan

      Published on

      February 4, 2022

      10:15 AM UTC

      CleanSpark, Inc. (CLSK) stock is jumping high to 5.56% – What’s influencing it? - Stocks Telegraph

      CleanSpark, Inc. (CLSK) experienced a push of 5.56% in premarket following the announcement of January 2022 Bitcoin Production. However, the last trading session concluded at $6.30 with a decrease of 6.11%.

      January 2022 Bitcoin Production – CLSK

      On 3rd February 2022, CLSK announced the updates on January 2022 Bitcoin production. The company reported that the monthly production in January was around 305 and total BTC holdings till 31st January came out to be 471. Not only this but the Company’s expansion and operations were entirely funded by the sale of 467 bitcoins in January 2022, at an average price of almost $41,000 per BTC. Last but not the least, BTC production peaked at 10.4 per day in January.

      Achievement of Major Milestone – What is it?

      CLSK reported on 24th January 2022 that its hash rate just surpassed 2 exahashes per second (EH/s), doubling in three months. One of the most essential indicators for analyzing publicly traded bitcoin miners is the hash rate. This indicates how many bitcoins a miner produces on a regular basis.

      CLSK is getting more capacity, both in terms of machines and access to additional electricity. In fact, the company feels that they are among the most economical miners in terms of hash rate per megawatt, and the company intends to keep that status. Lastly, the hard work and dedication of the teams to the Bitcoin network have resulted in rapid growth.

      Congressional Hearing on Bitcoin Mining – More About it

      On 20th January 2022, CLSK issued a statement in which they responded to the hearing on crypto mining. The company is standing on the verge of a once-in-a-lifetime chance to develop energy. Bitcoin is to blame for this. While bitcoin mining does take a significant amount of energy, the amount consumed is visible and virtually real-time.

      Moreover, Bitcoin mining is also helping to establish new energy infrastructure by providing for a faster payback on renewable energy projects like solar and wind. For authorities, the question isn’t how much energy bitcoin consumes, but what type of energy it consumes. Last but not the least, the company authorities feel that Bitcoin miners may be collaborators in the critical task of decarbonizing the economy.

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