Bitcoin Mining Stock CleanSpark Is Falling Monday: What's Going On?

CleanSpark Inc CLSK shares are trading lower. The company on Monday released a Bitcoin BTC/USD mining update for June.

What Happened: CleanSpark said it mined 685 Bitcoin last month, down from 694 Bitcoin mined in May. The company held a total of 12,608 Bitcoin as of the end of June after selling 578.51 Bitcoin during the month for total proceeds of approximately $61.24 million.

CleanSpark said it reached an operational hashrate of 50 EH/s in June. The company said it’s the first Bitcoin-mining company to do so entirely through fully self-operated infrastructure. CleanSpark also noted that it has a total of 987 MW of power under contract.

“With 179 megawatts of additional power capacity secured under contract, enough to support more than 10 EH/s of incremental hashrate, we are actively expanding our infrastructure to bring it online. This capacity will power additional deployments designed to drive efficient, sustainable growth,” said Zach Bradford, president and CEO of CleanSpark.

“These expansion efforts are the result of deliberate planning and execution across energy procurement, engineering, and site development. And it’s only the beginning.”

How To Buy CLSK Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in CleanSpark's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

CLSK Price Action: CleanSpark shares were down 7.55% at $11.33 at the time of publication Monday, according to Benzinga Pro.

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