Coinspeaker Major Bitcoin Miner CleanSpark Surpasses 10,000 BTC Milestone in Treasury
CleanSpark Inc. (NASDAQ: CLSK), a well-funded crypto mining firm and the fifth largest publicly traded company in terms of Bitcoin holdings, has reached a major milestone with its BTC $92 991 24h volatility: 1.2% Market cap: $1.84 T Vol. 24h: $56.48 B trove. The American Bitcoin miner announced on Thursday that it has reached and surpassed 10,000 Bitcoin in its treasury. After ending 2024 on a high note, CleanSpark announced that its self-mined Bitcoins, from its US-based operations, have reached a crucial milestone.
“Surpassing the 10,000-bitcoin mark reflects CleanSpark’s commitment to operational excellence, strategic growth, and disciplined capital management,” Zach Bradford, CEO and President of CleanSpark, noted.
As Coinspeaker reported, the company achieved an average hash rate of 35.52 EH/s in December 2024, which resulted in a total reward of 21.56 BTCs. However, the company sold 12.65 Bitcoins in December at an average price of slightly above $101k.
The continued growth in the CleanSpark Bitcoin reserves is heavily influenced by the expansion of its operations in the United States, including Wyoming. Having achieved a whale holder status, CleanSpark leaders are confident the company is gradually achieving its financial strategy of hedging against inflation.
“As the digital asset landscape evolves, we are committed to using our bitcoin holdings in a manner that aligns with sound risk management principles and disciplined capital strategy. 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,” Gary Vecchiarelli, Chief Financial Officer of CleanSpark, noted.
Market Impact on CleanSpark and Bitcoin Network
As a major Bitcoin miner, with a net valuation of about $2.95 billion, the company stock market has registered a heightened correlation with BTC price action in the recent past. In the past three months, the CLSK stock market has gained around 14 percent to trade at about $10.09 on Thursday at the time of this writing.
The company remains laser-focused on the long-term greatness of Bitcoin, especially under the upcoming Donald Trump administration. Furthermore, Bradford believes Bitcoin price will easily hit $200k in the coming months, catalyzed by the rising interest from nation-states and institutional investors.
CleanSpark has been a major supporter of the Bitcoin network to ensure a stable blockchain amid the ongoing mainstream adoption. As a result, the Bitcoin network can continue to grow seamlessly like other layer-one chains in the direction of web3 projects.
As of this writing, the Bitcoin network had a total value locked (TVL) of about $6.5 billion from the dozen decentralized financial (DeFi) platforms, including Babylon, Lombard, and AILayer Farm, among others. With over 739k addresses, Bitcoin’s DeFi protocols collected a total of $715k in fees during the past 24 hours.
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Major Bitcoin Miner CleanSpark Surpasses 10,000 BTC Milestone in Treasury
