CleanSpark, a leading Bitcoin mining firm, has surpassed 10,000 BTC in its corporate treasury, according to a Jan. 9 statement.
The firm said it now holds 10,097 BTC, which were sourced entirely from its US-based mining operations. This represents a staggering 236% increase in its Bitcoin reserves compared to the previous year.
The milestone also made the company the fourth-largest corporate Bitcoin holder globally. It has overtaken Hut 8 Mining, which holds 10,096 BTC, but remains behind Marathon Digital and Riot Platforms, which hold 44,893 BTC and 17,772 BTC, respectively.
CleanSpark’s leadership attributed the achievement to strategic planning and operational efficiency. CEO Zach Bradford emphasized the firm’s commitment to scaling responsibly, highlighting that disciplined capital management played a crucial role in reaching this milestone.
He added:
“Every bitcoin in our treasury has been mined in the United States, supported by American energy and jobs—underscoring our dedication to sustainable growth and innovation in the global bitcoin ecosystem.”
Chief Financial Officer Gary Vecchiarelli echoed this sentiment, noting the company’s focus on sound risk management and innovative financial strategies. He stated:
“We are committed to using our bitcoin holdings in a manner that aligns with sound risk management principles and disciplined capital strategy by avoiding unfavorable counterparty exposure and leveraging our bitcoin to lower our cost of capital.”
Corporate Bitcoin treasury doubles
The rise in CleanSpark’s Bitcoin holdings reflects a broader trend of growing corporate interest in Bitcoin.
According to Bitwise data, corporate Bitcoin treasury holdings more than doubled over the past year, climbing from 262,632 BTC in the fourth quarter of 2023 to 590,649 BTC by the end of 2024.
MicroStrategy remains the dominant player in this space. Last year, the firm acquired 258,320 BTC, pushing its total holdings to 447,470 BTC (equivalent to $43 billion).
Meanwhile, industry leaders believe the trend will continue this year as more firms embrace the top crypto. Bradley Duke, the Head of Europe for Bitwise, said:
“I believe we are just at the beginning of corporate treasury adoption and fully expect massive growth in this area in 2025.”
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Source: https://cryptoslate.com/cleanspark-surpasses-10000-btc-becoming-fourth-largest-corporate-holder/