Stock Track | CleanSpark Soars 5% in Pre-Market on Trump's Pro-Crypto Agenda

Stock Track

Jan 14, 2025

CleanSpark, Inc. (CLSK) shares jumped 5% in the pre-market trading session on Tuesday, riding on the wave of optimism surrounding the incoming Trump administration's plans to support the cryptocurrency industry.

According to reports, President-elect Donald Trump is expected to sign executive orders on his first day in office to boost the crypto sector. These orders are anticipated to address major challenges faced by the industry, such as banking restrictions and the controversial SEC Staff Accounting Bulletin 121 (SAB 121) regulation.

SAB 121 requires companies holding cryptocurrencies for clients to record those assets as liabilities on their balance sheets, which has been a focal point of industry criticism. By overturning this regulation, Trump's administration aims to remove a significant barrier for businesses operating in the crypto space, including CleanSpark, a sustainable Bitcoin mining company.

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