CleanSpark to Join S&P SmallCap 600, Strengthening Bitcoin Mining Presence
Bitcoin (BTC) miner CleanSpark (CLSK) is set to be added to the S&P SmallCap 600 index before the market opens on March 24, marking a significant milestone for the company.
CleanSpark will become the second publicly traded crypto miner to join the index, following Marathon Digital, which was added last year. The S&P SmallCap 600 tracks smaller U.S. firms that meet specific financial criteria, including profitability and market capitalization. To qualify, companies must have a total market cap above $1 billion.
Despite a 13.3% decline in its stock price this year, CleanSpark’s market capitalization currently stands at $2.24 billion, according to Google Finance data. Inclusion in the index could attract greater interest from institutional investors and funds tracking the S&P SmallCap 600, potentially boosting liquidity and trading activity for CleanSpark’s stock.
CEO Highlights Strategic Growth
“Being part of the S&P SmallCap 600 increases our visibility within the investment community and provides an opportunity to showcase our position as a vertically integrated, energy-efficient Bitcoin mining company,” said CEO Zach Bradford in a statement.
CleanSpark has aggressively expanded over the past year, including the acquisition of GRIID Infrastructure, to strengthen its mining operations. The company focuses on cost-effective and energy-efficient mining, positioning itself as a leading player in the sector.
CoinDesk reached out to CleanSpark for further comments but has not received a response as of press time.
