CleanSpark Stock Resumes Trading: What's Going On?

CleanSpark Inc CLSK shares are trading higher Monday alongside several Bitcoin BTC/USD mining stocks as the price of Bitcoin soars to new all-time highs. CleanSpark shares resumed trading Monday following an extended halt. Here’s a look at what’s going on.

What To Know: Bitcoin crossed the $80,000 level over the weekend and is trading at all-time highs on Monday as the rally in risk assets following Donald Trump's presidential election win continues. Most anticipate a more favorable regulatory environment under Trump, who has positioned himself as pro-crypto.

Bitcoin was up about 6.5% over a 24-hour period, trading around $84,800 at the time of publication, according to Benzinga Pro. Bitcoin is now up more than 23% over the past week.

Check This Out: MicroStrategy Acquires Another 27,200 Bitcoin Worth $2 Billion

CleanSpark shares were halted in after-hours trading last Thursday related to a clerical warrant conversion error involving the calculation of the number of outstanding warrants and the number of shares underlying those warrants. 

The stock was halted throughout Friday’s session and remained halted in pre-market trading Monday before opening for trading again at 10:15 a.m. ET Monday.

CleanSpark confirmed on Monday that the trading halt was due to a clerical error “relating solely to the outstanding warrants.”

CleanSpark announced last week that it mined 655 bitcoin in October, up 32% on a month-over-month basis. CleanSpark has now mined a total of 5,734 bitcoin year-to-date. The company had total bitcoin holdings of 8,701 as of Oct. 31.

CLSK Price Action: CleanSpark shares were up 17.5% at $15.98 at the time of publication, according to Benzinga Pro.

Photo: 15958319 from Pixabay.