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CleanSpark, an American Bitcoin mining company, revealed that it now owns 10,097 BTC, making it the fourth publicly listed mining company to own more than 10,000 BTC.
The company follows MARA Holdings, Riot Platforms, and Hut 8 Mining among the leading Bitcoin mining companies with more than 10,000 BTC.
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 expansion on January 9.
Bradford also highlighted 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 bitcoins in its vault. pic.twitter.com/shliE9ySFf
– CryptoMutant (@CryptoMutant) January 10, 2025
The other three major mining companies — 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 consistent with “sound risk management principles and a disciplined capital strategy.”
“By avoiding unfavorable counterparty exposure and leveraging our bitcoin to lower our cost of capital, we position CleanSpark as a leader in responsible financial innovation.”
Cleaning a Bitcoin vault in Spark
Bitcoin mining companies usually sell a portion of the extracted Bitcoin to buy new equipment, settle salaries, and cover maintenance expenses. However, some companies, such as MARA Holdings, have implemented vault policies to hold all or the maximum amount of Bitcoin they mine.
As for CleanSpark, the company sold a portion of the 668 bitcoins it mined in December, which was only 12.65 bitcoins.
In 2024, CleanSpark mined 7,024 BTC, and kept most of it after the start of the year with approximately 2,300 BTC in its vault.
CleanSpark finished 2024 with an impressive hashrate of 39.1 exahashes per second. The mining company also said that hash rate efficiency, or the number of hashes produced by a mining machine per unit of energy consumed, has increased by 33% from 2023.
Along with its mining achievements, CleanSpark has expanded its operations across the United States, entering three new states in 2024: Mississippi, Tennessee and Wyoming.
On the flip side, CleanSpark was among several publicly listed mining companies that failed to capitalize on an industry-wide market rally in 2024, seeing a decline of about 16%. On January 9, the company’s shares fell 5.8% to $10.09 amid a broader market decline, according to Google financials.
CleanSpark mined 668 BTC in December, which saw a monthly increase of 7.4%. It trailed only MARA Holdings, which mined 890 bitcoins, while Riot Platforms and IREN mined more than 500 each, Farside Investors data shows.
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