US Bitcoin mining firm CleanSpark said it now holds 10,097 Bitcoin in its treasury, making it the fourth publicly listed miner to hold more than 10,000 Bitcoin.
It marks a 236% year-over-year increase in CleanSpark’s Bitcoin (BTC)-denominated treasury, which CEO Zach Bradford attributed in a Jan. 9 statement to the company scaling more efficiently and responsibly.
All of CleanSpark’s 10,097 Bitcoin was mined in the US, supporting American energy and jobs while contributing to the growth of Bitcoin’s global ecosystem, Bradford said.
Source: CleanSpark
MARA Holdings, Riot Platforms and Hut 8 Mining also hold more than 10,000 Bitcoin, BitcoinTreasuries.NET data shows.
CleanSpark’s chief financial officer, Gary Vecchiarelli, said the firm remains committed to using its Bitcoin holdings in a way 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.”
Bitcoin miners often sell some of their mined Bitcoin to fund new machines, cover maintenance expenses and pay employees. Still, some companies like MARA Holdings have adopted treasury policies to retain all Bitcoin they mine, or as much as possible.
CleanSpark only sold 12.65 Bitcoin in December, a fraction of the 668 Bitcoin it mined.
The firm mined 7,024 BTC in 2024, keeping most of it after starting the year with about 2,300 Bitcoin in its treasury.
The company’s operating hashrate increased to 39.1 exahashes per second by the end of 2024, while its hashrate efficiency — the number of hashes a mining machine produces per unit of energy consumed — increased by 33% from 2023.
Related: Thai police seize nearly 1,000 Bitcoin miners in raid: Report
CleanSpark (CLSK) shares fell 5.8% to $10.09 on Jan. 9 amid a broader market turndown, Google Finance data shows.
CLSK’s change in share price over the last five trading days. Source: Google Finance
CleanSpark was one of several public miners that failed to capitalize on an industry-wide market rally in 2024, falling around 16%.
The 668 Bitcoin CleanSpark mined in December marked a 7.4% monthly increase and trailed only MARA Holding’s 890 Bitcoin, while Riot Platforms and IREN each mined over 500, according to Farside Investors data.
Bitdeer reported mined 145 Bitcoin in December, while Bit Digital’s monthly production fell 27.8% to 32.4 Bitcoin.
Bit Digital attributed the fall to changes in the company’s hosting portfolio, ongoing redeployment of mining assets to new sites and the retirement of older generation miners.
Magazine: Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam