Why Shares of CleanSpark, Bit Digital, and Canaan Are Rising Today
The stocks of most Bitcoin-mining companies jumped today on news that lawmakers in Washington, D.C., were closing in on an agreement to suspend the U.S. debt ceiling until 2025.
Shares of CleanSpark (NASDAQ: CLSK) traded nearly 7% higher as of 10:49 a.m. ET. Meanwhile, Bit Digital (NASDAQ: BTBT) rose 11%, and Canaan (NASDAQ: CAN) was up roughly 6.6%.
Over the weekend, President Joe Biden and House Speaker Kevin McCarthy came to an agreement on the debt ceiling, which will now head for a vote. If passed, the deal will allow the U.S. government to keep paying for obligations that have already been approved until 2025. If the debt ceiling is not suspended or raised by June 1, then the U.S. government could default on its debt, which would likely have huge adverse ramifications for the economy and financial markets.
Source Fool.com
