Miner CleanSpark to launch its marketplace to sell mined bitcoins

Management believes that this way the company will be able to better control risks

04.01.2024 - 13:39

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What’s new? CleanSpark, one of the largest publicly traded US bitcoin mining companies, intends to launch its own trading platform this year to maximize profits from cryptocurrency assets in its accounts. CleanSpark CEO Zachary Bradford said that this way the company will be able to fully control the selling process, taking into account its own risk profiles and experience. In his opinion, many mining companies will have such platforms in the near future.

Bloomberg’s material

What else is known? CleanSpark is based in Henderson, Nevada, and as of November, it owned 2575 bitcoins worth about $97 million. The company’s revenue at the end of its fiscal year (September) was $168 million.

Bradford revealed that CleanSpark also plans to develop strategies using regulated cryptocurrencies, such as options contracts traded on the Chicago Mercantile Exchange (CME). However, he emphasized that most of the company’s assets will remain in cold storage with segregated accounts with custodians such as US crypto exchange Coinbase.

CleanSpark (CLSK) shares have risen by 440% in the past year to 11 dollars, boosting the company’s market capitalization to about $2 billion.

The combined capitalization of 14 miners registered in the US grew by 88% over the month to reach $17,2 billion by the end of December, a record since November 2021, analysts at conglomerate JPMorgan write.

In terms of bitcoin accumulations, CleanSpark is in fourth place in the ranking of aggregator CoinGecko.

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