CleanSpark becomes fourth Bitcoin miner to hold 10,000 BTC

CleanSpark, the American Bitcoin mining company, revealed that it now holds 10,097 Bitcoins, making it the fourth publicly traded miner to hold more than 10,000 BTC.

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

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

Bradford also emphasized that all Bitcoins are mined in the United States, contributing to the American energy system and workforce and supporting the global Bitcoin ecosystem.

CleanSpark, a US-based Bitcoin mining company, recently mined over 10,000 BTC in its treasury. pic.twitter.com/shliE9ySFf

– CryptoMutant (@CryptoMutant) January 10, 2025

The other three big miners – MARA Holdings, Riot Platforms and Hut 8 Mining – own more than 10,000 Bitcoins, according to BitcoinTreasuries.NET.

CleanSpark CFO Gary Vecchiarelli announced that the company continues to prioritize the use of its Bitcoin holdings in a manner that aligns with “robust risk management principles and a disciplined capital strategy “.

“By avoiding adverse exposure to counterparties and leveraging our Bitcoin to reduce our cost of capital, we are positioning CleanSpark as a leader in responsible financial innovation.”

Clean Spark Bitcoin Cash

Bitcoin mining companies typically sell a portion of their mined Bitcoins to purchase new equipment, pay salaries, and cover maintenance expenses. However, some companies, such as MARA Holdings, have implemented treasury policies aimed at retaining all or the maximum amount of Bitcoin they mine.

As for CleanSpark, the company sold part of the 668 Bitcoins it had mined in December, or only 12.65 Bitcoins.

In 2024, CleanSpark mined 7,024 BTC, retaining the majority after starting the year with around 2,300 Bitcoins in its treasury.

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

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

On the other hand, CleanSpark was among many publicly traded mining companies that failed to capitalize on the industry-wide market recovery in 2024, experiencing a decline of around 16%. On Jan. 9, the company’s shares fell 5.8% to $10.09 amid a broader market decline, according to Google Finance data.

CleanSpark mined 668 Bitcoins in December, which saw a monthly increase of 7.4%. It is behind only MARA Holdings, which has mined 890 Bitcoins, while Riot Platforms and IREN have mined more than 500 each, according to data from Farside Investors.

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