Cleanspark plans to raise funds by selling up to $800 million in stock. While the decision caused the stock price to plummet 10% in after-hours trading, it will dilute its stock price by 19% given its market capitalization of $4.2 billion. The company has achieved massive growth of 95% in 2024 and 685% in the past 12 months, while also preparing for the Bitcoin halving event expected to occur on April 20. The Bitcoin halving will reduce mining rewards, and Cleanspark aims to have the lowest Bitcoin production costs after this event.
Cleanspark plans to raise funds by selling up to $800 million in stock. While the decision caused the stock price to plummet 10% in after-hours trading, it will dilute its stock price by 19% given its market capitalization of $4.2 billion. The company has achieved massive growth of 95% in 2024 and 685% in the past 12 months, while also preparing for the Bitcoin halving event expected to occur on April 20. The Bitcoin halving will reduce mining rewards, and Cleanspark aims to have the lowest Bitcoin production costs after this event.
