Bitcoin Miner Cleanspark (CLSK) is moving away from its strategy of keeping 100% of BTC mines.
The Henderson, Nevada-based company said it will return to sell some of the bitcoin that were extracted to support his activities in a message on Tuesday.
“While we remain obliged to Bitcoin as a long -term, hardened asset, we believe that a more effective way of increasing shareholder value is through a balanced approach between making money on new production and building long -term holdings,” said CEO Zach Bradford.
Cleanspark’s holdings now exceed 12,000 BTC, worth just over $ 1 billion at current prices.
The company has also increased its credit facility with Coinbase Prime (Coin) to $ 200 million and is pursuing a financing strategy without having to sell equity. Cleanspark, which has 40.2 Exahash per day. Second (eh/s) mining, seeks to expand it to 50 eh/s.
“As part of this balanced approach, we intend to build our diversified capital rack further. In today’s market environment, we see the debt markets as the most efficient and responsible path to support accordive growth, and our strong balance positions us to take full advantage of this opportunity,” added Bradford.
CLSK shares rose just over 1%before they paired their gains in early trade on Tuesday, and surpassed the wider BTC mining sector, measured by Coinhares Bitcoin Miners ETF (WGMI), which fell more than.