CleanSpark Surpasses 10,000 Bitcoin in Treasury Holdings
CleanSpark Inc. (NASDAQ: CLSK), a significant player in crypto mining, has surpassed 10,000 Bitcoin in its treasury. This milestone was announced following strong self-mining performance in the U.S.
- CEO Zach Bradford emphasized the company's commitment to operational excellence and strategic growth.
- In December 2024, CleanSpark achieved an average hash rate of 35.52 EH/s, earning 21.56 BTCs but sold 12.65 BTCs at an average price above $101k.
- Expansion in operations, particularly in Wyoming, bolstered their Bitcoin reserves.
- CFO Gary Vecchiarelli highlighted the focus on sound risk management principles and leveraging Bitcoin for lower capital costs.
Market Impact
- CleanSpark's net valuation is approximately $2.95 billion, with its stock correlating closely with Bitcoin price movements.
- The CLSK stock has risen about 14% over the past three months, trading around $10.09.
- Bradford forecasts Bitcoin could reach $200k, driven by interest from nation-states and institutional investors.
- The Bitcoin network currently holds about $6.5 billion in total value locked across various DeFi platforms.
- Bitcoin DeFi protocols generated $715k in fees in the last 24 hours.