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In-House Trading Desk Launch Might Led Accession of CleanSpark 

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As per Bloomberg, CleanSpark, a leading cryptocurrency miner, has announced its plan to launch its in-house trading desk. Zachary Bradford, the firm’s chief executive officer, stated that the need arose due to the large amount of BTCs held. 

A report of CleanSpark dated November 2023 states that the company holds around 2,575 Bitcoins.

While talking to Bloomberg, Zachary said, “We really think that doing it ourselves is the best way, especially with the large Bitcoin balance we have,” Zachary Bradford, chief executive officer of CleanSpark, said in an interview. “It just makes financial sense to do it in-house.”

In the past few months, as cryptocurrency prices grew, Bitcoin miners started becoming richer as they mostly held Bitcoin and a few other major altcoins. 

CleanSpark made $168 Million in sales during the fiscal year that ended in September.

Crypto Market Overview 

The crypto market has performed at its verge in 2023. However, market observers believe that the backers of spot Bitcoin ETF majorly fueled the surge.

When writing, Bitcoin was trading at $42,444 with an intraday decline of 6.32%. Despite a price decline, volume showed improvement, and a surge of 23.49% was noticed.

However, in the past 24 hours, the entire crypto market capitalization slipped 7.70%, and when writing, it was $1.62 Trillion. The crypto fear & greed index of CoinMarketCap says that the market is greedy (73.66). 

Other News Related to Crypto Mining 

Marathon Digital Holdings has made money by selling Bitcoin call options and leveraging its massive unconstrained holdings.

A Russian cryptocurrency miner was reportedly abducted on Christmas Day and threatened with drug charges and demanded 15 Million rubles ($164,000) in ransom.

Reportedly, the kidnappers traveled to an unknown place before phoning the victim’s brother on Telegram and demanded more than 15 Million rubles for his release. If the sibling did not comply, the guys allegedly threatened to frame him by planting narcotics and turning him over to the authorities.

Crypto Mining Hub

Due to its enormous and undeveloped hydropower potential, Kyrgyzstan has become a popular destination for crypto-mining activities. 

The nation’s Finance Ministry recorded a significant growth in tax income from the crypto-mining business, reaching 78.6 Million soms, or approximately $883,000, in the first 11 months of 2023 – an astounding gain over the previous year.

CleanSpark (CLSK) Stock Price Overview 

In the past 52 weeks, CleanSpark, Inc. (CLSK) stock grew by 416.67%. However, the stock is still struggling in the YTD time frame, as it is 13.89% below its price trading price the same day a year ago. 

CleanSpark market capitalization grew by an impressive 1292.97% in 2023. It is important to note that since January 01, 2024, the market cap has yet to show desired results. When writing, it was $2.01 Billion. 

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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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