Bitcoin Miner CleanSpark Ditches Bitcoin 'HODL' Strategy
Bitcoin miner CleanSpark (CLSK) is shifting from its previous strategy of holding all the BTC it mines to selling a portion of its production to improve operational support and shareholder value. CEO Zach Bradford stated that they seek a balanced approach that combines monetizing new production with building long-term holdings. CleanSpark's current holdings exceed 12,000 BTC, valued at over $1 billion, and the company has expanded its credit facility with Coinbase Prime to $200 million to avoid equity dilution. This strategy is part of their broader goal to increase their mining operations from 16 EH/s to 50 EH/s, positioning the firm to leverage the current market efficiently.
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