CleanSpark Joins Top Bitcoin Miners with Over 10,000 BTC Treasury
CleanSpark, a prominent US-based Bitcoin mining company, has achieved a significant milestone by holding 10,097 Bitcoin in its treasury. This makes CleanSpark the fourth publicly listed Bitcoin miner to surpass the 10,000 BTC mark, joining the ranks of MARA Holdings, Riot Platforms, and Hut 8 Mining, according to BitcoinTreasuries.NET data.
The company’s Bitcoin holdings represent a remarkable 236% year-over-year increase, a testament to its scalable and efficient operational strategies. CleanSpark CEO Zach Bradford emphasized that all of the firm’s Bitcoin was mined within the United States, contributing to domestic energy and job growth while bolstering Bitcoin’s global ecosystem.
Gary Vecchiarelli, CleanSpark’s CFO, highlighted the company’s commitment to sound financial practices, stating that its Bitcoin holdings are managed with robust risk management and a disciplined capital strategy. CleanSpark strategically uses its Bitcoin to reduce capital costs and avoid counterparty risks, positioning itself as a leader in responsible financial innovation.
Despite common practices in the industry where miners sell Bitcoin to fund operations, CleanSpark retained the majority of its mined Bitcoin, selling only 12.65 BTC in December while mining 668 BTC during the month. In 2024, the company mined 7,024 BTC, significantly increasing its treasury from the 2,300 BTC it held at the start of the year.
CleanSpark’s operational hashrate surged to 39.1 exahashes per second by the end of 2024, with a 33% improvement in hashrate efficiency compared to 2023. The firm’s growth and efficiency highlight its leadership in the Bitcoin mining sector.
