All Articles

CleanSpark Is Launching Their Own Bitcoin Trading Arm

January 4, 2024
x min read

Many Bitcoin miners have recently been achieving record breaking output from their operations. And now, some are making a new ambitious move: launching their own Bitcoin trading arm.

What’s happening:

  • Las Vegas, Nevada based Bitcoin mining company CleanSpark (NASDAQ: CLSK) is getting ready to launch their own in house Bitcoin trading desk
  • The new venture aims to both lower costs and reduce risks for CleanSpark as they manage their Bitcoin exposure

By the numbers:

  • CleanSpark currently owns just over 3,000 Bitcoin, which are worth approximately $135M USD at present Bitcoin prices
  • In December alone, CleanSpark mined a record breaking 720 Bitcoin

Going deeper:

  • This is not the first time a Bitcoin mining company has ventured into finding ways to manage their own Bitcoin positions, as Marathon Digital (NASDAQ: MARA) has previously sold Bitcoin call options as a way to profit from their high levels of Bitcoin exposure and ownership
  • Galaxy Digital (TSX: GLXY) has significant Bitcoin mining operations after acquiring Helios from Argo Blockchain and also has their own institutional crypto trading desk

Discover what’s next. The world’s biggest ideas, disruptive trends, most exciting early stage companies and groundbreaking entrepreneurs.

By clicking Subscribe you're confirming that you agree with our Privacy Policy.
Thanks for subscribing!
Keep an eye out for a welcome email shortly.
Oops! Something went wrong while submitting the form.