CLSK Stock Leads Gains Among Crypto Equities – Lifting Data Center-Focused Bitcoin Miners

• The announcement lifted other Bitcoin mining companies with growing data center infrastructure businesses, including Keel Infrastructure, Riot Platforms, Mara Holdings, Hut 8, and HIVE Digital.
• Bitcoin traded largely unchanged while Ethereum outperformed major cryptocurrencies during Tuesday morning's session.
• Coinbase and Circle traded mixed, with investors turning their attention to the expected release of a revised CLARITY Act draft later this week.

Shares of Cleanspark (CLSK) led gains among crypto equities on Tuesday morning, pushing other Bitcoin (BTC) miners that are pivoting towards data center infrastructure higher as well. 

CLSK’s stock rose as much as 20% in pre-market trade, and trimmed gains to around 10% after market open, and was among the top-trending tickers on Stocktwits at the time of writing. Retail sentiment around the company on the platform rose to ‘bullish’ from ‘bearish’ over the past day, and chatter jumped to ‘high’ from ‘normal’ levels. 

CleanSpark Surges On $6.6 billion Infrastructure Lease

The company announced it had entered into a 20-year infrastructure lease agreement, with two five-year extension options, directly with a technology company at its Sandersville, Georgia, campus. 

CleanSpark added that the lease is expected to generate approximately $6.6 billion of contracted revenue over the initial term. “Pursuant to the executed letter of intent, CleanSpark's entire Texas portfolio is now under exclusivity with the tenant,” it said. 

Data Center-Focused Bitcoin Miners Move Higher

Other data infrastructure companies known for their prowess in Bitcoin mining, like Keel Infrastructure (KEEL), Riot Platforms (RIOT), and Mara Holdings (MARA), also rose in morning trade by about 3% each. Hut 8 (HUT) and HIVE Digital (HIVE) each climbed by around 2%. 

Bitcoin’s price traded flat over the last 24 hours at around $63,700, underperforming the leading altcoin, Ethereum (ETH), which led gains among cryptocurrencies on Tuesday morning. The largest corporate Bitcoin treasury, Strategy (MSTR), saw its shares jump by over 3% in morning trade while Ethereum treasury Bitmine Immersion Technologies (BMNR) rose nearly over 7%. 

Crypto-Linked Equities Await CLARITY Act Catalyst

The performance of other crypto-linked equities was mixed. While shares of Coinbase (COIN) rose in morning trade, Circle (CRCL) edged lower, with both awaiting the CLARITY Act as their next catalyst after the Senate resumed on Monday. According to TD Cowen, a fresh draft of CLARITY will be released this week and is likely to be tabled in the Senate for discussion during the week of July 20. COIN’s stock edged around 1% higher, while CRCL’s stock dipped fell over 3% in early-morning trade.

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