CleanSpark joins MARA, Riot, and Hut 8 as prominent publicly listed BTC mining companies with 10,000 or more BTC on their balance sheets.
The fourth public-listed mining firm to presently hold more than 10,000 Bitcoins is CleanSpark, a United States-based Bitcoin mining firm.
The company has reported that it currently has 10,097 Bitcoin in its treasury.
It follows a 236% year-over-year increase in CleanSpark’s Bitcoin-denominated treasury, which CleanSpark’s CEO Zach Bradford attributed to the company’s more efficient and responsible scalability in a Jan. 9 statement.
Bradford further stated that CleanSpark’s 10,097 Bitcoin have been mined entirely in the United States, thereby sustaining American energy and employment while also contributing to the expansion of the global Bitcoin ecosystem.
BitcoinTreasuries.NET data indicates that MARA Holdings, Riot Platforms, and Hut 8 Mining Corp possess over 10,000 Bitcoins.
The company’s chief financial officer, Gary Vecchiarelli, stated that the company is dedicated to using its Bitcoin holdings in a manner consistent with its “disciplined capital strategy and sound risk management principles.”
“By avoiding unfavorable counterparty exposure and leveraging our Bitcoin to lower our cost of capital, we are positioning CleanSpark as a leader in responsible financial innovation.”
Although Bitcoin miners frequently sell a portion of their mined Bitcoin to finance new machines, cover maintenance expenses, and pay employees, certain companies, such as MARA Holdings, have implemented treasury policies to retain all of the Bitcoin they mine, or as much as feasible.
CleanSpark mined 668 Bitcoin in December, but it only sold 12.65 Bitcoin.
In 2024, the organization mined 7,024 BTC, retaining the majority of it after commencing the year with approximately 2,300 Bitcoin in its treasury.
The company’s hashrate efficacy, which is the number of hashes a mining machine produces per unit of energy consumed, increased by 33% from 2023, while its operating hashrate also increased to 39.1 exahashes per second by the end of 2024.
On January 9, CleanSpark (CLSK) shares experienced a 5.8% decline to $10.09 in response to a broader market downturn, according to data from Google Finance.
In 2024, CleanSpark was one of several public miners that failed to capitalize on an industry-wide market rally, falling approximately 16% after being one of the best-performing mining equities in 2023, with a more than 440% increase.
According to Farside Investors data, CleanSpark mined 668 Bitcoin in December, which represented a 7.4% monthly increase.
MARA Holding mined 890 Bitcoin in December, while Riot Platforms and IREN mined over 500 Bitcoin.
Bitdeer reported mining 145 Bitcoin in December, while Bit Digital’s monthly productivity decreased by 27.8% to 32.4 Bitcoin.
Bit Digital attributed the decline to the retirement of elder generation miners, the ongoing redeployment of mining assets to new sites, and changes in the company’s hosting portfolio.
