BTC Miner Cleanspark joins marathon as Bitcoin’s second miner at S&P Smallcap 600 index
Bitcoin (BTC) Miner Cleanspark (CLSK) is set to join the S&P Smallcap 600 index before the market opens on March 24, the company announced.
Cleanspark is the second crypto miner to be added to index after peer Marathon Digital was added to the list last year.
The index measures the performance of smaller publicly exchanged US companies that meet specific financial standards, including profitability. To be integrated into the index, stocks must have a total market capitalization above $ 1 billion.
Cleanspark’s market capitalization currently stands at $ 2.24 billion, despite a 13.3% drawdown up to this year, according to Google Finance data. Index integration may bring more attention to cleanspark from institution investors that monitor or invest in index funds tied to S&P Smallcap 600.
Index companies usually benefit from increasing trading volume and improved liquidity, making their shares easier to access in a wider pool of investors.
“Cleanspark integration improves the visibility within the investment community,” CEO Zach Bradford said in the announcement. “Our integration improves the visibility within the investment community and gives us an opportunity to show the cost of being a pure play, upright with the Bitcoin mining company and making exposure to our model more widely available.”
Cleanspark operates bitcoin mining facilities across the US, focusing on energy efficiency and resources capable of expensive. The company has expanded its operations Last year with the acquisition of peer griid infrastructure.
CoinDesk reached out to Cleanspark for comment but has not been heard by press time.
