Bitcoin miner's surprise $800M offering sends stock falling

Thursday after-hours trade saw CleanSpark stock drop. The conference discusses the company's ATM offering agreement change. 

Under the deal with H.C. Wainwright & Co., the Company sold $500 million in stock on January 5, 2024.

CleanSpark shared a revised ATM offering agreement with the SEC on March 28, 2023.

This restructure allows the company to issue and sell common stock at $0.001.

Miners like CleanSpark, Riot Platforms, and Marathon Digital Holdings are exploiting this essential agreement to raise funds.

CleanSpark shares plunged 16% and finished at $19.1 when the news was made accessible for after-hours trade in seconds.

Dusk-inflated trading dropped 8.2%, while Google Finance data showed bots' interference during regular stock market hours exceeded.

The existing trading capitalization is $4.2 billion; the $800 million stock offering will dilute owners by 19%.

The April 12, 2024 Edition of Your Daily FinanceScope 

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