Shares of CleanSpark, Inc. (CLSK), a sustainable bitcoin mining company, surged 6.35% in pre-market trading on Friday, January 17th, 2025. The stock's rally was fueled by the broader cryptocurrency market's uptrend and growing anticipation of favorable policies towards the industry under the incoming Trump administration.
Bitcoin, the world's largest cryptocurrency, breached the $101,000 mark for the first time in 10 days, boosting the prospects of crypto-related companies like CleanSpark. The company's stock mirrored the gains seen in other crypto mining firms, such as Riot Platforms, Marathon Digital, and MicroStrategy, which climbed over 2% in pre-market trading.
Investors are betting that the new Trump administration will prioritize the development of crypto and blockchain technology in the United States. According to reports, Trump is planning to issue an executive order designating cryptocurrency as a national priority and creating a crypto advisory council within his administration. This move is expected to provide a more favorable regulatory environment for the industry, potentially benefiting companies like CleanSpark.
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