Bitcoin Miner CleanSpark (CLSK) Abandons Bitcoin 'HODL' Strategy to Stop Dilution via Capital Raising
CleanSpark Abandons Bitcoin 'HODL' Strategy to Prevent Dilution Through Capital Raising
CleanSpark currently has over 12,000 BTC in assets, which is worth just over $1 billion at current prices.
Jamie Crowley | Edited by Aoyon Ashraf on April 15, 2025, 2:02 PM
What you need to know:
- Bitcoin miner CleanSpark is abandoning its strategy of HODLing 100% of the BTC it mines.
- “We believe the most effective way to increase shareholder value is through a balanced approach between monetizing new production and building long-term assets,” said CEO Zach Bradford.
- The company also increased its credit line for Coinbase Prime (COIN) to $200 million.
Bitcoin miner CleanSpark (CLSK) is deviating from its strategy of HODLing all of its mined BTC.
The Henderson, Nevada-based organization said Tuesday it has resumed selling some of its bitcoin to support its operations.
“While we remain confident in Bitcoin as a long-term, secure asset, we believe that a more effective way to increase shareholder value is through a balanced approach between monetizing new production and creating long-term assets,” said CEO Zach Bradford.
CleanSpark currently has over 12,000 BTC in assets, which at current prices is worth just over $1 billion.
The company also expanded its credit line with Coinbase Prime (COIN) to $200 million, following a strategy to fund its operations without having to sell equity. CleanSpark, which has a mining capacity of 40.2 exahashes per second (EH/s), plans to increase it to 50 EH/s.
“As part of this balanced approach, we intend to continue to grow our diversified capital base. In the current market environment, we view debt markets as the most efficient and responsible way to support growth, and our strong balance sheet positions us well to take full advantage of this opportunity,” Bradford added.
CLSK shares rose just over 1% before paring gains in early trading on Tuesday, outperforming the broader BTC mining sector, according to the CoinShares Bitcoin Miners ETF (WGMI), which was down more than 1%.
