{"id":34695,"date":"2025-01-10T10:26:07","date_gmt":"2025-01-10T10:26:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=34695"},"modified":"2025-01-10T10:26:07","modified_gmt":"2025-01-10T10:26:07","slug":"cleanspark-becomes-fourth-public-bitcoin-miner-to-hold-over-10000-btc","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=34695","title":{"rendered":"CleanSpark Becomes Fourth Public Bitcoin Miner To Hold Over 10,000 BTC"},"content":{"rendered":"

US-based Bitcoin mining firm CleanSpark has announced that it now holds 10,097 Bitcoin in its treasury, making it the fourth publicly listed mining company to surpass the 10,000 BTC mark. <\/span><\/p>\n

The<\/span> company\u2019s Bitcoin holdings have grown by 236% year-over-year, a testament to CleanSpark\u2019s efficient scaling<\/span>, <\/span>noted CEO Zach Bradford<\/span><\/a> in a statement on 9 January 2025<\/span>.<\/span><\/p>\n

Bradford highlighted that all the company\u2019s Bitcoin has been mined in the US, supporting domestic energy production and job creation while contributing to Bitcoin\u2019s global ecosystem.<\/span><\/p>\n

Other<\/span> public Bitcoin miners in the 10,000 BTC league include MARA Holdings, Riot Platforms, and Hut 8 Mining Corp<\/span>, according to BitcoinTreasuries.NET<\/span>.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>9 Best High-Risk High-Reward Crypto Coins to Buy in 2025<\/span><\/a><\/strong><\/p>\n

CleanSpark Sold 12 BTC In December 2024<\/span><\/h2>\n

CleanSpark\u2019s Chief Financial Officer, Gary Vecchiarelli, emphasized the firm\u2019s focus on sound financial practices. <\/span><\/p>\n

\u201cBy 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,\u201d Vecchiarelli stated.<\/span><\/p>\n

Bitcoin miners typically sell portions of their mined Bitcoin to cover operational costs, including equipment upgrades and employee salaries. However, companies like MARA Holdings have adopted strategies to retain as much mined Bitcoin as possible. <\/span><\/p>\n

CleanSpark sold only 12.65 BTC in December, a small fraction of the 668 BTC it mined that month.<\/span><\/p>\n

In 2024, CleanSpark mined 7,024 BTC, significantly increasing its treasury from around 2,300 BTC at the start of the year. The company\u2019s operating hashrate also rose to 39.1 <\/span>exahashes<\/span> per second, reflecting a 33% improvement in energy efficiency compared to 2023.<\/span><\/p>\n

Despite these achievements, CleanSpark\u2019s stock (CLSK) fell 5.8% to $10.09 on January 9, amid a broader market downturn<\/span>, according to Google Finance<\/span>.<\/span><\/p>\n

The decline is part of a larger trend, with the company\u2019s shares falling 16% in 2024 after a stellar 2023 performance, where the stock surged over 440%.<\/span><\/p>\n

https:\/\/t.co\/MDzbScQDzj<\/a><\/p>\n

\u2014 CleanSpark Inc. (@CleanSpark_Inc) January 9, 2025<\/a><\/p>\n\n

In December, CleanSpark\u2019s 668 BTC mining output marked a 7.4% monthly increase, ranking it just behind MARA Holdings, which mined 890 BTC. <\/span><\/p>\n

Riot Platforms and IREN <\/span>also<\/span> exceeded 500 BTC, while Bitdeer and Bit Digital reported lower production due to operational changes and equipment retirements.<\/span><\/p>\n

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Public Bitcoin Miners Adopt Treasury Strategy<\/span><\/h2>\n

In 2024, Bitcoin miners adapted to rising competition and market volatility by embracing new strategies, including a notable focus on building their Bitcoin treasuries.<\/span><\/p>\n

According to a 7 January 2025\u00a0report by NiceHash and Digital Mining Solutions, several public mining companies <\/span>mirrored\u00a0MicroStrategy\u2019s approach<\/span><\/a> by increasing their BTC holdings rather than selling their mined coins.<\/span><\/p>\n

Companies like MARA Holdings, Riot Platforms, and Hut 8 even purchased additional Bitcoin using borrowed funds, signaling a strong commitment to this treasury strategy.<\/span><\/p>\n

Beyond treasury strategies, diversification into high-performance computing (HPC) and artificial intelligence (AI) sectors emerged as a key trend among miners in 2024.<\/span><\/p>\n

The report noted that US-based miners, in particular, turned to these sectors to offset the unpredictability of mining revenues. For instance, Hive Digital repurposed its Nvidia GPUs for AI tasks, generating over $2 per hour compared to just $0.12 per hour from crypto mining.<\/span><\/p>\n

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The post CleanSpark Becomes Fourth Public Bitcoin Miner To Hold Over 10,000 BTC<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

US-based Bitcoin mining firm CleanSpark has announced that it now holds 10,097 Bitcoin in its treasury, making it the fourth publicly listed mining company to surpass the 10,000 BTC mark. The company\u2019s Bitcoin holdings have grown by 236% year-over-year, a testament to CleanSpark\u2019s efficient scaling, noted CEO Zach Bradford in a statement on 9 January […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-34695","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34695"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34695"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34695\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}