Why CleanSpark Stock Dived by Nearly 11% Today
Shares of CleanSpark (NASDAQ: CLSK), which concentrates most of its efforts on mining Bitcoin (CRYPTO: BTC), saw an even more precipitous decline than the falling token on Tuesday. CleanSpark's shares plummeted by just under 11% during the day, as investors showed their displeasure at the company's latest financing news.
Tuesday morning, CleanSpark announced that it has secured a $35 million equipment-financing loan from venture-debt financier Trinity Capital. This facility's term is three years and has a relatively hefty annual interest rate of 9.9%.
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Source Fool.com
