TL;DR
CleanSpark has revised its operational and financial strategy, announcing that it will no longer retain 100% of the bitcoins mined.
Starting in April, the company plans to sell a portion of its monthly production to cover its expenses , in an effort to avoid issuing new shares. The decision is a reversal of a policy adopted in mid-2023, when the company focused on accumulating all mined BTC.
The announcement comes alongside an increase in its credit line with Coinbase Prime , which now stands at $200 million . This BTC-backed funding allows CleanSpark to continue operations without having to dilute its capital . Additionally, the company has officially launched an institutional treasury department focused on digital assets . This team will work with selected partners in the areas of lending, custody, and derivatives following a competitive bidding and evaluation process.
CEO Zach Bradford noted that the new approach combines partial BTC sales with long-term reserve accumulation . The goal is to ensure that operations are self-funded and to avoid methods that could depress the stock price. According to Bradford, the strategy is aimed at optimizing operational and financial performance in the face of expansion .
CleanSpark also reported that its Bitcoin holdings exceed 12,000 units , with an estimated value of $1 billion . The company is well on its way to reaching its goal of 50 exahashes per second (EH/s) in mining power, currently sitting at 40.2 EH/s.
Unlike other firms in the sector, which rely on equity or debt to fund growth, CleanSpark has chosen a different structure. It focuses on using debt secured by its digital assets and operating cash flow from its mining operations.
The market reacted positively to the announcement. The company’s shares rose more than 1% in the first half of the day , beating the sector average captured by the WGMI ETF. CleanSpark aims to become one of the most financially efficient companies in the Bitcoin space.
Source: cryptonews.net
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