CleanSpark to start selling Bitcoin in 'self-funding' pivot
15 Aprile 2025 - 11:14PM
Cointelegraph
CleanSpark will start selling a portion of the Bitcoin earned
from its mining operations each month in a bid to become
financially self-sufficient, the US Bitcoin miner said on April
15.
In addition, CleanSpark secured a $200 million credit facility
backed by Bitcoin (BTC) through an
agreement with Coinbase Prime, the institutional brokerage division
of the crypto exchange,
according to a statement.
Together, the Bitcoin sales and credit line mean CleanSpark has
“achieved escape velocity — the ability to self-fund operations,
augment our bitcoin treasury, and contribute to expansion capital
through operational cash flow,” Zach Bradford, CEO of CleanSpark,
said.
CleanSpark has opened an institutional Bitcoin trading desk to
facilitate the cryptocurrency sales, it added.
Crypto mining stocks are down sharply in 2025. Source:
Morningstar
Related:
Bitdeer turns to self-mining Bitcoin, US operations
amid tariff tumult — Report
Navigating market volatility
The Bitcoin miner’s emphasis on self-funding comes as mining
stocks reel from across-the-board selloffs in the first quarter of
2025.
Shares of CoinShares Crypto Miners ETF (WGMI) — a publicly
traded fund tracking a diverse basket of Bitcoin mining stocks —
are down more than 40% since the start of the year, according to
data
from Morningstar.
“[W]e believe this is the right time to evolve from a nearly
100% hold strategy adopted in mid-2023 and move back using a
portion of our monthly production to support operations,” Bradford
said.
Cheaper stock prices effectively increase Bitcoin miners’ cost
of capital and can potentially cause creditors to demand faster
loan repayments.
Analysts at JP Morgan attributed the downturn to
eroding cryptocurrency prices, which added pressure to business
models already strained by the Bitcoin network’s April 2024
halving.
Halvings occur roughly every four years when the Bitcoin network
automatically cuts mining rewards in half.
Price per Bitcoin versus network hashrate. Source:
JPMorgan
In April,
pressure on mining stocks worsened when US President Donald
Trump announced plans for sweeping tariffs on US imports.
US Bitcoin miners are
especially vulnerable to trade wars because they rely on
specialized mining hardware, often sourced from foreign
manufacturers.
Bradford said he expects CleanSpark’s financial self-sufficiency
to differentiate it from peers “who continue to rely on equity
dilution to fund operating costs or increased leverage to grow
their Bitcoin reserves.”
Other miners are taking similarly aggressive measures to adapt
to the changing market.
Bitdeer, a Singapore-based crypto miner, has
reportedly touted plans to start manufacturing mining hardware
in the United States to mitigate the impact of Trump’s planned
import tariffs.
Magazine: Illegal arcade disguised as … a fake Bitcoin
mine? Soldier scams in China: Asia Express
...
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CleanSpark to start selling Bitcoin in
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