CleanSpark overtakes Hut 8 Mining with 10,097 BTC in holdings
According to updated Bitcoin Treasuries data, mining company CleanSpark has become the fifth entity to accumulate reserves exceeding 10,000 BTC. The company currently holds 10,097 BTC, ranking fourth after MicroStrategy, MARA Holdings, and Riot Platforms.
CleanSpark narrowly surpassed Hut 8 Mining, which holds 10,096 BTC, to secure its position. The total value of CleanSpark’s bitcoin holdings is estimated at $960.3 million, while its market capitalization stands at $2.95 billion.
“Surpassing the 10,000 BTC milestone reflects CleanSpark’s commitment to operational excellence, strategic growth, and disciplined capital management,” said CleanSpark CEO Zach Bradford. He also noted that all bitcoins were mined in the U.S., contributing to the country’s economy and energy sector.
Shareholders remain unsatisfied
In 2024, CleanSpark tripled its bitcoin reserves. The company began the year with 2,300 BTC and mined 7,024 BTC over the next 12 months, most of which remain on its balance sheet.
The miner's hashrate grew by 33%, reaching 39.1 EH/s as of January 2025. However, despite a 7.4% increase in cryptocurrency production in December and reserves exceeding 10,000 BTC, CleanSpark’s stock price has significantly declined.
CleanSparks stock price over the last 30 days. Source: Yahoo Finance
According to Yahoo Finance, the company’s shares have dropped nearly 33% in the past 30 days, trading at $10.09 at the time of writing.
The Chinese company BIT Mining, listed on the New York Stock Exchange, has announced the completion of a deal to acquire a mining facility in Ethiopia. The facility includes 18,000 rigs with a total capacity of 51 MW.
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