CleanSpark is joining an important benchmark of US small cap stocks. The company has shown a recent streak of profitability, even with the volatility in the market after April’s 2024 halves.
Beginning March 24, CleanSpark’s stock will be included in the S&P SmallCap 600 Index. According to its name, this index tracks the performance of US small companies who meet liquidity and financial stability criteria.
In March 2025 the index is expected to reach its highest level. constituents The company must be a publicly traded corporation with a market cap between $1.1 and $7.4 Billion, have at least 10% public shares, and four quarters of positive earnings.
CleanSpark’s CEO Zach Bradford stated that the inclusion of the company in the Small-Cap Index demonstrates the importance and value the business provides. “the value of being a pure play, vertically integrated Bitcoin mining company,” What makes? “exposure to our model more broadly available.”
Source: CleanSpark
CleanSpark’s profits surged In the fourth quarter of 2024 we will reach $241.7 millions, which is $0.85 per share. This compares to just $25.9million a year ago. Revenues across the company increased by 120%, from $25.9 million to $162.3million.
Bitcoin) (English).BTC( ) Stockpile now by 6% 11,177 BTC on its books. Only four publicly-traded companies have more Bitcoin.
Related: Monthly Bitcoin production drops as miners fight rising hashrate
BTC miners under pressure
Bitcoin miners are now able to see their profits increase. revenues decline Since the April 20, 2024 event, several players in the industry have been forced to diversify business models. Some are turning toward artificial intelligence data centersThe mining industry can earn more revenue by using.
Hive Digital’s Frank Holmes and Aydin Kilic told Cointelegraph in September that using Nvidia GPUs to perform AI tasks can generate revenues of up to $2.50 an hour, compared with just $0.12 for crypto-mining.
It is for this reason that “institutions are much more interested in us with our AI than Bitcoin,” Holmes said.
Bitcoin miners are turning to AI-based applications for a boost in revenue. Source: VanEck
Mergers and acquisitions are also being used by other mining companies. reduce mining costs JPMorgan reported in August that companies like and have increased hashrate. JPMorgan Chase, the Wall Street Bank, singled out certain companies. Riot Platforms and CleanSaprk for increasing their M&A activity in the post-halving environment.
Meanwhile, “Capital-constrained miners like IREN and [Cipher] focused on securing greenfield opportunities, which require less immediate capital,” JPMorgan said.
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Source: cointelegraph.com
