Nasdaq-listed Bitcoin mining company CleanSpark has announced its upcoming inclusion in the S&P SmallCap 600 Index.
CleanSpark, one of the world's largest Bitcoin (BTC) mining companies, announced the news in a press release published on March 10. According to the press release, the inclusion in the S&P SmallCap 600 index will take place before the start of trading on March 24, 2025.
Why does this matter?
The S&P SmallCap 600 Index tracks small-cap companies in the U.S. stock market. It analyzes companies based on various criteria, such as book value and earnings, and evaluates their liquidity and financial strength.
The index inclusion is a significant addition to recent positive developments for CleanSpark, which has signed major deals in 2024. The miner also surpassed 10,000 BTC in its holdings and reached key hashrate milestones.
A significant step for investors and shareholders
Zach Bradford, CEO of CleanSpark, emphasized that joining the S&P SmallCap 600 Index is another important milestone for the Bitcoin mining company’s employees, investors, and management. The inclusion is also significant because it validates CleanSpark’s consistent market performance. He added:
“Our listing increases visibility in the investment community and provides us with an opportunity to demonstrate the value of our role as a pure-play, vertically integrated Bitcoin mining company and make our business model more accessible.”
You may also like:
CleanSpark's Q1 results showed that the company's revenue grew 82% quarter-on-quarter to $162.3 million. Q1 also saw a 33% increase in BTC production, with 1,945 BTC mined in the three months, up from 1,465 BTC in the previous quarter. Additionally, the deployed hashrate increased by 41.7% to 39.1 exahashes per second.
These significant changes came as the price of Bitcoin rose by 37%.
Even though BTC has fallen 16% in the last month to around $80,000, crypto analysts remain bullish on the asset. Analysts also see CleanSpark stock as one of the best picks in the sector.
Read more: Analyst reiterates CleanSpark as 'top pick' after Q1 report
Source: cryptonews.net
