CleanSpark Ventures into Bitcoin Trading as Holdings Soar: Mining Meets Trading
Jan 3, 2024
CleanSpark, a Bitcoin mining company, plans to establish its own trading desk in response to its substantial Bitcoin holdings, currently at 2,575 BTC. The move is aimed at managing risk and leveraging expertise. Other mining companies, such as Marathon Digital, have also ventured into trading and diversifying revenue streams through high-performance computing. These developments coincide with anticipation of potential spot Bitcoin ETF approvals by the US Securities and Exchange Commission, expected by January 10th. CleanSpark is a publicly traded firm, and its stock has surged 428% in the past year. Bitcoin recently reached a two-year high, trading at around $44,000.