CleanSpark reaches 10,000 Bitcoin milestone with 236% growth

CleanSpark, a prominent Bitcoin (CRYPTO:BTC) mining firm in the United States, has announced that it now holds a total of 10,097 Bitcoin in its treasury, making it the fourth publicly listed mining company to achieve this significant milestone.

This achievement reflects a remarkable 236% year-over-year increase in its Bitcoin holdings, attributed to the company's efficient and responsible scaling strategies, as stated by CEO Zach Bradford on January 9, 2025.

All of CleanSpark's Bitcoin has been mined within the U.S., reinforcing its commitment to supporting local energy and job markets while contributing to the broader Bitcoin ecosystem.

The company joins the ranks of other major miners such as MARA Holdings, Riot Platforms, and Hut 8 Mining Corp, which also maintain over 10,000 Bitcoin in their reserves.

CleanSpark's Chief Financial Officer, Gary Vecchiarelli, emphasised the firm's dedication to sound risk management and disciplined capital strategies.

He noted that by minimising exposure to unfavorable counterparties and leveraging Bitcoin to reduce capital costs, CleanSpark is positioning itself as a leader in responsible financial innovation.

While many Bitcoin miners typically sell portions of their mined Bitcoin to fund operations and cover expenses, CleanSpark has adopted a strategy aimed at retaining as much of its mined Bitcoin as possible.

In December alone, the firm mined 668 Bitcoin but only sold 12.65.

The company started 2024 with around 2,300 Bitcoin in its treasury and has since mined a total of 7,024 BTC for the year.

By the end of December 2024, CleanSpark's operational hashrate had increased to 39.1 exahashes per second, with a notable improvement in hashrate efficiency—up by 33% from the previous year.

Despite facing a broader market downturn that saw CleanSpark's shares drop by 5.8% to $10.09 on January 9, the company's overall performance remains strong compared to its peers.

The recent surge in Bitcoin holdings positions CleanSpark favorably within the competitive landscape of cryptocurrency mining firms and reflects its commitment to sustainable growth practices.

At the time of reporting, the Bitcoin (BTC) price was $94,282.73.