TLDR
- CleanSpark increased its bitcoin holdings to 13,011 BTC, valued at $1.6 billion in September.
- The firm mined a total of 629 BTC in September, despite a 4.3% drop from August’s production.
- CleanSpark’s bitcoin stack grew by 184 BTC, worth $22 million, during the month of September.
- CleanSpark remains among the top 10 public bitcoin holders, ranking ninth according to Bitcoin Treasuries.
- CEO Matt Schultz highlighted the expansion of the company’s bitcoin-backed credit line by $200 million in September.
CleanSpark increased its Bitcoin holdings to 13,011 BTC, valued at $1.6 billion, as of September’s production update. This represents a net addition of 184 BTC, equivalent to $22 million. The firm mined a total of 629 BTC in September, with a 50 H/s operational hashrate, despite a 4.3% drop from August.
CleanSpark’s Continued Growth Amid Market Rebound
CleanSpark’s Bitcoin holdings now place it among the top 10 public holders, according to Bitcoin Treasuries. It ranks ninth, positioned between Trump Media and Coinbase. The company’s holdings have increased despite posting 2,583 BTC as collateral or receivables, CleanSpark reported.
CEO Matt Schultz highlighted that September was a key month for the firm. “We strengthened our leadership team and expanded our bitcoin-backed credit line by $200 million in capacity,” Schultz stated. CleanSpark’s strategic moves underscore its long-term growth goals, as the firm focuses on unlocking value from its energy portfolio.
CleanSpark has demonstrated strong resilience in the bitcoin market. Its shares have surged by 62% over the past month, reflecting the broader rebound in the bitcoin mining sector. As of now, CleanSpark has a market cap of around $4.5 billion, ranking seventh among its peers.
Riot Reduces Bitcoin Holdings by 22 BTC in September
In contrast, Riot Platforms trimmed its bitcoin holdings slightly, reducing its total by 22 BTC to 19,287 BTC. The company mined 445 BTC in September, a 6.7% drop from the previous month, with a deployed hashrate of 36.5 EH/s. Riot’s holdings are still substantial, placing it seventh among public bitcoin holders.
Riot Platforms remains a significant player in the bitcoin mining space. The firm’s bitcoin holdings are valued at approximately $2.3 billion. Despite the decline in mined bitcoin, Riot’s shares are up by 39% in the past month.
Bitcoin Market Outlook and CleanSpark’s Strategic Position
The price of bitcoin saw a 5.4% increase in September, closing the month at $120,942. CleanSpark’s strategic positioning in the market continues to strengthen. The firm’s recent growth, alongside its energy-driven initiatives, positions it well for the future.
With a solid Bitcoin portfolio and expanding energy capabilities, CleanSpark is set to unlock further value for shareholders. The firm’s ongoing expansion in the bitcoin space reflects its commitment to growth and profitability.
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Source: https://blockonomi.com/cleanspark-increases-bitcoin-holdings-to-13011-btc-in-september/