Summary
- CleanSpark announced a shift from a 100% Bitcoin holding strategy to a partial sale strategy.
- This decision is aimed at enhancing shareholder value by selling some mined Bitcoin to cover operating expenses and holding the rest long-term.
- CleanSpark stated that it has strengthened cooperation with Coinbase Prime and increased the credit line to $200 million.
CleanSpark, a Bitcoin (BTC) mining company listed on Nasdaq, announced plans to sell some of its mined Bitcoin in the future.
On the 15th (local time), Zach Bradford, CEO of CleanSpark, stated on the official website, "We will change the 100% Bitcoin holding strategy that we have maintained since mid-2023," and "We plan to sell some of the mined Bitcoin each month to cover operating expenses." He added, "This is a different strategy from competitors who use leverage to increase their Bitcoin holdings," and "By selling some of the mined Bitcoin and holding the rest long-term, we can further enhance shareholder value." Currently, CleanSpark holds over 12,000 BTC.
The sale of mined Bitcoin will be conducted through the Bitcoin financial management desk. On the same day, CleanSpark officially launched the Bitcoin financial management desk by increasing the credit line with Coinbase Prime to $200 million.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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