Stock Alert: CleanSpark Ascends 17%

(RTTNews) - Shares of advanced software and controls technology solutions company CleanSpark, Inc. (CLSK) are rising more than 17% in morning trade.

Thursday, CleanSpark announced its agreement to buy bitcoin miner ATL Data Centers, LLC for up to $19.4 million in shares.

This transaction represents the first strategic acquisition following CleanSpark's recent $40 million institutional investment.

ATL creates a unique business opportunity as a full-scale, profitable demonstration facility for the Company, CleanSpark said. CleanSpark plans to expand the power at facility from 20MW to 50MW, which is expected to be completed in April 2021.

The company intends to start modeling solutions with its proprietary mVSO software and subsequently add renewable energy generating assets and energy storage to the site. It also plans to more than quadruple the number of ASIC (application specific integrated circuit) mining units at the site.

The company believes that the facility will demonstrate power and cash savings to its clients by using CleanSpark's technology.

CLSK touched a new high of $18.20 this morning.