Shares of CleanSpark (NASDAQ: CLSK) shot higher on Tuesday on news that it had acquired more equipment to mine bitcoin. The company is a technology company in the energy sector, but it expanded its business into bitcoin when it acquired a bitcoin mining operation called ATL Data Centers earlier in December. More equipment allows more bitcoin to be mined, which is why CleanSpark stock was up 18% today.
Bitcoin miner Riot Blockchain (NASDAQ: RIOT) also announced it's increasing its operations. It was able to buy 15,000 Antminers from Bitmain for $35 million using cash on hand. The move increases the company's capacity by 65%, so the stock's 33% jump today was somewhat understandable.
Finally, fellow bitcoin miner Marathon Patent Group (NASDAQ: MARA) might have moved just based on these two other stocks. It upgraded mining operations earlier in the month, but there was nothing newsworthy to explain its 22% spike today.
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Why Stocks of Bitcoin Miners CleanSpark, Marathon, and Riot Blockchain Were Up Again Today