Why Bitcoin- And Ethereum-Related Stock CleanSpark Is Falling

Shares of several companies in the broader tech sector, including CleanSpark Inc CLSK, are trading lower amid overall market weakness as growing COVID concerns and omicron variant uncertainty weigh on market sentiment.

CleanSpark shares were trading lower last week as investors weigh last Wednesday's Fed announcements and assess tapering outlook. Expected rate hikes for 2022 could weigh on tech and growth stocks.

See Also: Why Shopify Shares Are Sliding

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and design services. The company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. CleanSpark provides bitcoin mining and energy technology solutions worldwide.

CleanSpark has a 52-week high of $42.60 and a 52-week low of $10.40.