CleanSpark, Inc. (CLSK), a technology company specializing in Bitcoin mining and energy solutions, saw its stock soar 6.47% in intraday trading on Wednesday. This surge was part of a broader rally in the cryptocurrency sector fueled by two key factors: softer US inflation data and optimism around the incoming Trump administration's potential crypto-friendly policies.
The softer core price index eased concerns about aggressive interest rate hikes by the Federal Reserve, providing a tailwind for risk assets like cryptocurrencies and crypto-related stocks. Bitcoin itself climbed more than 2.7% on the day, trading close to $99,000 after briefly crossing the $100,000 milestone last month.
Adding to the positive sentiment was the expectation that President-elect Donald Trump, set to be sworn in on January 20th, could unleash policies favorable to the crypto industry. Trump has pledged to make the US a global hub for cryptocurrencies, counterbalancing concerns over his potential inflationary tariff and immigration policies.
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