CleanSpark Becomes Fourth Bitcoin Miner to Hold 10,000 BTC

US bitcoin mining company CleanSpark revealed that it now owns 10,097 bitcoin, making it the fourth publicly traded miner to own more than 10,000 btc.

The company follows MARA Holdings, Riot Platforms, and Hut 8 Mining among the top bitcoin miners holding more than 10,000 bitcoin.

This represents 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.

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CleanSpark, a US-based bitcoin mining company, has recently mined over 10,000 btc from its treasury. pic.twitter.com/shliE9ySFf

– CryptoMutant (@CryptoMutant) <a target="_blank" href="https://twitter.com/CryptoMutant/status/1877651476987998326?ref_src=twsrc%5Etfw”>January 10, 2025

The other three big miners (MARA Holdings, Riot Platforms and Hut 8 Mining) own more than 10,000 bitcoin, according to the bitcoin.NET Treasures.

Gary Vecchiarelli, CFO of CleanSpark, announced that the company continues to prioritize using its bitcoin holdings in a way that aligns with “solid risk management principles and a disciplined capital strategy.”

“By avoiding unfavorable 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's bitcoin Treasury

bitcoin mining companies typically sell a portion of their mined bitcoin to purchase new equipment, pay salaries, and cover maintenance costs. However, some companies, such as MARA Holdings, have implemented treasury policies to hold 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 just 12.65 bitcoin.

In 2024, CleanSpark mined 7,024 btc, keeping most of it after starting the year with approximately 2,300 bitcoin in its treasury.

CleanSpark finished 2024 with an impressive hash rate of 39.1 exahashes per second. The mining company also said that its hashrate efficiency, or the number of hashes a mining machine produces per unit of energy consumed, increased by 33% since 2023.

In addition to its mining achievements, CleanSpark expanded its operations throughout the United States, entering three new states in 2024: Mississippi, Tennessee and Wyoming.

On the other hand, CleanSpark was among several publicly traded miners that failed to capitalize on an industry-wide market rally 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 bitcoin in December, seeing a 7.4% monthly increase. It trailed only MARA Holdings, which mined 890 bitcoin, while Riot Platforms and IREN mined more than 500 each, Farside Investors data shows.

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