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CleanSpark, a Bitcoin mining company listed in the U.S., announced on Thursday that it has exceeded 10,000 BTC in its treasury.
This achievement reflects the company’s recent mining initiatives and operational growth.
CleanSpark Surpassed 10,000 BTC In Treasury: Is This A Bullish Indicator?
CleanSpark disclosed that its Bitcoin reserves have reached 10,097 BTC, bolstered by 668 BTC mined in December 2024.
https://t.co/MDzbScQDzj
— CleanSpark Inc. (@CleanSpark_Inc) January 9, 2025
By the end of 2024, CleanSpark had accumulated 9,952 BTC, with the new milestone achieved shortly thereafter.
Zach Bradford, CEO and president of CleanSpark, stated: “Surpassing the ten thousand Bitcoin threshold demonstrates CleanSpark’s commitment to operational excellence, strategic growth, and disciplined capital management.”
Bradford also emphasized the company’s 236% year-over-year increase in Bitcoin holdings, mentioning that all BTC in its treasury was mined in the United States using domestic energy and labor.
By the conclusion of 2024, the firm’s operational hashrate rose to 39.1 exahashes per second, marking a 287.9% year-over-year increase.
Hashrate efficiency also saw significant improvement, increasing by 33.3% during the same timeframe.
CleanSpark’s acquisitions, including GRIID Infrastructure and seven new facilities in Knoxville, Tennessee, have further diversified its operations.
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CleanSpark and Competitors Increase BTC Holdings in 2024
A report from Digital Mining Solutions and BitcoinMiningStock.io published on January 7 highlighted a trend among Bitcoin miners to retain a larger portion of mined BTC in 2024.
The Bitcoin Mining 2024 Analysis examines key sector trends: Bitcoin network status, mining economics, ASIC hardware developments, and public mining company performance. @itsCindyFeng @Smidnico @miningstockinfo @NiceHashMining https://t.co/1l39xaDAZT pic.twitter.com/T91pf99WZ6
— Digital Mining Solutions (@DigMinSolutions) January 7, 2025
Companies such as MARA Holdings, Riot Platforms, and Hut 8 have adopted similar strategies to enhance their balance sheets and protect against currency devaluation.
CleanSpark, now the fifth-largest corporate Bitcoin holder, retained the majority of its mined Bitcoin throughout 2024, accumulating 9,952 BTC by year-end, valued at approximately $1.01 billion.
The company surpassed Tesla in BTC holdings, with only MicroStrategy and three other mining firms holding more Bitcoin.
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In December, CleanSpark sold 12.65 BTC, representing 58% of its average daily monthly production, at an average price of $101,246 per BTC, generating approximately $1.28 million.
Additionally, CleanSpark announced that its new facilities are expected to enhance its hashrate by another 22%.
While CleanSpark’s stock (CLSK) surged on January 6, it remains at less than half of its 52-week peak, reflecting broader market conditions.
Bitcoin recently reached an all-time high of $108,000 before stabilizing at around $94,287 as of this writing.
The post Bitcoin Miner CleanSpark Achieves 10,000 BTC Treasury, Marks 236% YoY Growth appeared first on Cryptonews.
