NASDAQ-registered Bitcoin mining company CleanSpark has announced its upcoming inclusions in the S&P SmallCap 600 Index.
CleanSpark, one of the world's largest Bitcoin (BTC) mining companies, revealed this through a press release on March 10th. According to a news release, inclusion in the S&P SmallCap 600 index will come into effect on March 24, 2025 prior to market opening.
Why is this important?
The S&P SmallCap 600 index measures the Small-Cap components of the US stock market. They track companies based on criteria such as book value and revenue, and these value stocks are also evaluated in terms of liquidity and economic viability.
Including it in the index adds the recent positive developments of CleanSpark, which completed a major transaction in 2024. Miners have attacked key targets in the Treasury transport of hashrates exceeded 10,000 BTC.
Investors and shareholders' milestones
CleanSpark CEO Zach Bradford said joining the S&P SmallCap 600 Index marks another important milestone for Bitcoin Mining Company employees, investors and management teams. Additionally, inclusion is noteworthy as it recognizes CleanSpark's consistent market performance. He added:
“Our participation gives us the opportunity to increase our vision within the investment community and demonstrate the value of being a pure play and being a vertically integrated Bitcoin mining company.
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CleanSpark's first quarter results showed that the company's revenue rose 82% quarterly to $162.3 million. Q1 also saw a 33% increase in BTC production, with 1,945 BTC mined in three months compared to 1,465 BTC in the last quarter. Meanwhile, the unfolded hashrate increased by 41.7% per second to 39.1 exahash.
These spikes came when Bitcoin recorded an upside move of 37%.
BTC has hovered nearly $80,000 over the past month, down 16%, but Crypto analysts remain bullish on their assets. Stock analysts also rate pure play Bitcoin Minor Clean Spark stocks as the top pick in the sector.
