Share this article
CleanSpark Ditches Bitcoin 'HODL' Strategy to Stop Dilution Via Equity Raise
CleanSpark's holdings now exceed 12,000 BTC, worth just over $1 billion at current prices.
Updated Apr 15, 2025, 7:03 p.m. Published Apr 15, 2025, 2:02 p.m.
Make us preferred on Google
What to know:
- Bitcoin miner CleanSpark is moving away from its strategy of HODLing 100% of the BTC it mines.
- "We believe a more effective way to increase shareholder value is through a balanced approach between monetizing new production and building long-term holdings," CEO Zach Bradford said.
- The company has also increased its credit facility with Coinbase Prime (COIN) to $200 million.
Bitcoin miner CleanSpark (CLSK) is moving away from its strategy of HODLing 100% of the BTC it mines.
The Henderson, Nevada-based company said it is returning to selling a portion of the bitcoin mined to support its operations in an announcement on Tuesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"While we remain committed to bitcoin as a long-term, hardened asset, we believe a more effective way to increase shareholder value is through a balanced approach between monetizing new production and building long-term holdings," CEO Zach Bradford said.
CleanSpark's holdings now exceed 12,000 BTC, worth just over $1 billion at current prices.
The company has also increased its credit facility with Coinbase Prime (COIN) to $200 million, pursuing a strategy of funding its operations without having to sell equity. CleanSpark, which has 40.2 exahash per second (EH/s) mining power, is looking to expand it to 50 EH/s.
"As part of this balanced approach, we intend to further build out our diversified capital stack. In today's market environment, we view the debt markets as the most efficient and responsible path to support accretive growth, and our strong balance sheet positions us to take full advantage of that opportunity," Bradford added.
CLSK shares rose just over 1% before paring their gains in early trading on Tuesday, outperforming the broader BTC mining sector, as measured by the CoinShares Bitcoin Miners ETF (WGMI), which fell more than.
More For You
More For You
Recapping Consensus Hong Kong
Crypto's role in payments for AI, regulatory changes and the digital asset market dominated conversations on the ground.
What to know:
- Speakers at CoinDesk's Consensus Hong Kong conference said crypto and stablecoins are likely to become the default payment tools for autonomous AI agents in an emerging "machine economy."
- Market participants warned that bitcoin, which has already dropped nearly $30,000 in a month, may fall further, with $50,000 seen as the level to watch.
- Hong Kong regulators are pressing ahead with crypto rules even as others wait to see how U.S. legislation develops.
Top Stories
