CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying
Posted On December 3, 2024
CleanSpark Inc. (NASDAQ:CLSK) said Monday that much of its shareholder value is derived from investments in mining facilities, rather than adding Bitcoin (CRYPTO: BTC) to its balance sheet.
What Happened: During the company’s fourth-quarter earnings call, CEO Zach Bradford noted that, while the firm is not against direct Bitcoin purchases, it believes that the highest returns for shareholders come from acquiring or building Bitcoin production facilities.
Bradford said that the company was producing Bitcoins at healthy margins, lowering the average value of the cost basis of its stash.
“So really, the way we look at it is you’re faced with the decision, do you buy assets to produce Bitcoin on a reoccurring basis, at what right now is …
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