rewrite this title with good SEO CleanSpark Becomes Fourth Bitcoin Miner To Hold Over 10,000 BTC

CleanSpark, the US Bitcoin mining company, revealed it now holds 10,097 Bitcoin, making it the fourth publicly listed miner to hold more than 10k BTC.

The company follows MARA Holdings, Riot Platforms, and Hut 8 Mining among leading Bitcoin miners holding over 10,000 Bitcoin.

This represents a 236% year-over-year growth in CleanSpark’s Bitcoin-denominated treasury, which CEO Zach Bradford attributed to the company’s more efficient and responsible scaling on January 9.

Bradford also highlighted that all Bitcoins were mined in the US, contributing to the American energy system and workforce and supporting the global Bitcoin ecosystem.

CleanSpark, a Bitcoin mining company based in the United States, has recently mined more than 10,000 BTC in its treasury. pic.twitter.com/shliE9ySFf

— CryptoMutant (@CryptoMutant) January 10, 2025

The three other big miners—MARA Holdings, Riot Platforms, and Hut 8 Mining—possess over 10,000 Bitcoin, according to the BitcoinTreasuries.NET.

Gary Vecchiarelli, the Chief Financial Officer of CleanSpark, announced that the company continues to prioritize using its 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.”

Clean Spark’s Bitcoin Treasury

Bitcoin mining firms usually sell a portion of their mined Bitcoin to purchase new equipment, settle salaries, and cover maintenance expenses. However, some companies, such as MARA Holdings, implemented treasury policies to keep all or the maximum amount of Bitcoin they mine.

As for CleanSpark, the company sold a portion of the 668 Bitcoin it mined in December, which was only 12.65 Bitcoin.

In 2024, CleanSpark mined 7,024 BTC, keeping the majority of it after beginning the year with approximately 2,300 Bitcoin in its treasury.

CleanSpark ended 2024 with an impressive hashrate of 39.1 exahashes per second. The mining firm also said its hashrate efficiency, or the number of hashes a mining machine produces per unit of energy consumed, increased by 33% from 2023.

Alongside its mining achievements, CleanSpark expanded its operations across the US, entering three new states in 2024: Mississippi, Tennessee, and Wyoming.

On the flip side, CleanSpark was among several publicly listed miners that failed to capitalize on an industry-wide market rally in 2024, experiencing a decline of about 16%. On January 9, the company’s shares dropped 5.8% to $10.09 amid a broader market turndown, according to Google Finance data.

CleanSpark mined 668 Bitcoin in December, which experienced a 7.4% monthly increase. It trailed only MARA Holdings, which mined 890 Bitcoin, while Riot Platforms and IREN mined over 500 each, Farside Investors data shows.

Related Articles