Bitcoin miner CleanSpark to join S&P SmallCap 600 Index

Bitcoin miner CleanSpark volition articulation an important benchmark for US small-cap stocks, underscoring the company’s caller drawstring of profitability contempt manufacture volatility pursuing the April 2024 halving. 

Beginning March 24, CleanSpark’s banal volition beryllium included successful the S&P SmallCap 600 Index. As the sanction implies, the scale measures the show of tiny US companies that conscionable circumstantial liquidity and stableness criteria. 

As of March 2025, the index’s constituents indispensable person a marketplace capitalization of betwixt $1.1 cardinal and $7.4 billion, support a nationalist interval of astatine slightest 10% of shares outstanding, and person affirmative trailing net for 4 consecutive quarters. 

CleanSpark CEO Zach Bradford said the company’s inclusion successful the small-cap scale demonstrates “the worth of being a axenic play, vertically integrated Bitcoin mining company,” which makes “exposure to our exemplary much broadly available.”

Source: CleanSpark

CleanSpark’s profits surged to $241.7 million, oregon $0.85 per share, successful the last 4th of 2024, up from conscionable $25.9 cardinal a twelvemonth earlier. Company-wide revenues jumped 120% connected a year-over-year ground to $162.3 million.

In February, the institution further bolstered its Bitcoin (BTC) stockpile by 6% and present holds 11,177 BTC connected its books. Only 4 different publically traded companies ain much Bitcoin.

Related: Monthly Bitcoin accumulation drops arsenic miners combat rising hashrate

BTC miners nether pressure

Bitcoin miners person seen their revenues decline since the April 2024 halving event, forcing respective manufacture players to diversify their concern models. Several are pivoting toward artificial quality information centers, which tin make higher gross than accepted mining. 

In September, Hive Digital executives Frank Holmes and Aydin Kilic told Cointelegraph that repurposing Nvidia GPUs for AI tasks could make up to $2.50 per hr successful revenues, up from conscionable 0.$12 per hr for crypto mining.

For this reason, “institutions are overmuch much funny successful america with our AI than Bitcoin,” Holmes said.

Bitcoin miners are progressively turning toward AI applications to boost revenues. Source: VanEck

Other mining companies are turning to mergers and acquisitions to reduce mining costs and summation hashrate, according to an August study by JPMorgan. The Wall Street slope singled retired companies similar Riot Platforms and CleanSaprk for expanding their M&A enactment successful the post-halving environment. 

Meanwhile, “Capital-constrained miners similar IREN and [Cipher] focused connected securing greenfield opportunities, which necessitate little contiguous capital,” JPMorgan said.

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