Why CleanSpark Stock Plunged Today

Shares of CleanSpark (NASDAQ: CLSK) plunged on Thursday, likely because the price of bitcoin continues to fall. However, the company did announce progress on one of its energy projects today. As of 1:40 p.m. EST, the stock was down 11%.

CleanSpark's primary business focus is software related to microgrids -- small-scale, off-grid electricity projects. The company has partnered with a housing development company in planning 2,000 future units in Mexico. But it all starts with the model home. Today, the company announced that designs for this single-family residence have been completed, and CleanSpark will be putting in the microgrid technology over the next 30 days. 

Image source: Getty Images.

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Source Fool.com