CleanSpark Adds 454 Bitcoin at $64K, Reserves Hit $880M
CLSK sits 61% above its 52-week low of $8.
Summary
CleanSpark bought 454 BTC on July 7 at an average price of ~$64,000, bringing total holdings to 13,924 BTC worth ~$880 million. This follows a Q2 net loss of $378.3 million that included a $224.1 million non-cash fair value loss on bitcoin. The purchase signals continued conviction in bitcoin accumulation despite recent losses and heavy short interest (33% of float). The company held $925.2 million in BTC and $260.3 million in cash at quarter-end, so this buy represents a modest allocation of available liquidity.
At the time of this announcement, CLSK was trading at $12.90 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $8.00 to $23.61. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Binance News.