Bitcoin miner CleanSpark slips after $550 mln convertible deal announced
2024-12-13
Category: None

** Shares of CleanSpark CLSK down 3.4% to $11.91 in extended trading as bitcoin miner looks to raise capital
** Las Vegas-based firm offering privately $550 mln convertible bonds due Jun 2030
** Co plans to use net proceeds to pay for capped calls, use up to $125 mln to repurchase its common stock, remainder to fully repay line of credit with cryptocurrency exchange Coinbase COIN
** CLSK shares on Thurs closed down 3.9% at $12.33, giving co about $3.6 bln market cap, per LSEG data
** Shares have gained 17% since the Nov 5 election, as bitcoin BTCUSD has soared to record highs on expectations of favorable regulatory environment for cryptocurrencies under Donald Trump
** Bitcoin has gained >30% since Nov 5 and is currently trading around $99,850