CLSK Shelf Offering (Patreon)
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This came out after the close. Hence the dip.
A shelf offering is a type of public offering where a company can issue securities over a period of time, rather than all at once. This allows the company to have more flexibility in raising capital when market conditions are favorable.
The reason I bought CLSK today is they are adding 6-8 eh over the next 6-8 weeks going from 10 to 16 or 18. They have state of the art rigs.
Now dilution is not bad when you put the money to work immediately as I have discussed with MSTR selling shares to buy BTC which has been a blindingly good strategy.
If CLSK can gradually sell stock to buy new state of the art rigs it can help.... if they are doing it to line execs pockets it is bad.
Either way, CLSK came out tops in my model yesterday and will track CLSK is my biggest miner position so we shall monitor. Note SHELF OFFERING does not mean instant dilution but rather the option for gradual dilution.