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CleanSpark Inc (NASDAQ:CLSK) shares are trading higher Monday after the company announced a further expansion into AI data center infrastructure.
What To Know: CleanSpark announced the appointment of Jeffrey Thomas as senior vice president of AI Data Centers as part of the company’s strategy to expand beyond Bitcoin (CRYPTO: BTC) mining by developing and operating advanced AI data center infrastructure.
Thomas previously served as president of AI data centers at Humain, where he spearheaded the Kingdom of Saudi Arabia’s multi-billion AI data center program.
“Jeffrey’s decades of experience building and scaling digital infrastructure platforms make him an exceptional addition to our leadership team,” said Matt Schultz, chairman and CEO of CleanSpark.
“His track record of creating billions in shareholder value and forging partnerships with the world’s leading technology companies will be instrumental as we expand our operations and deliver diversified growth for our shareholders.”
CleanSpark announced in September that it would invest in high-performance computing capabilities. Shares are up approximately 40% since the announcement. The move aims to diversify the company’s revenue streams, strengthen long-term cash flow potential and enhance CleanSpark’s ability to serve the world’s leading technology companies.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in CleanSpark's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
CLSK Price Action: CleanSpark shares were up 10.01% at $21.48 at the time of publication on Monday, according to Benzinga Pro.
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