{"id":1447597,"date":"2024-01-04T02:40:00","date_gmt":"2024-01-04T07:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1447597"},"modified":"2024-01-04T02:40:00","modified_gmt":"2024-01-04T07:40:00","slug":"bitcoin-miner-cleanspark-to-launch-in-house-trading-desk","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/bitcoin-miner-cleanspark-to-launch-in-house-trading-desk\/1447597\/","title":{"rendered":"Bitcoin Miner CleanSpark To Launch In-House Trading Desk"},"content":{"rendered":"

Bitcoin Miner CleanSpark To Launch In-House Trading Desk<\/span><\/p>\n

\n

By Brayden Lindrea of CoinTelegraph<\/a><\/em><\/p>\n

US-based Bitcoin miner CleanSpark Inc. reportedly plans to set up an in-house trading desk sometime in 2024 to maximize returns from its Bitcoin holdings. According<\/a> to a Jan. 2 report from Bloomberg, the firm\u2019s CEO Zachary Bradford said the move would make use the the \u201clarge Bitcoin\u201d balance the company has.<\/p>\n

<\/a><\/p>\n

\u201cWe really think that doing it ourselves is the best way, especially with the large Bitcoin balance we have,\u201d Bradford told Bloomberg. \u201cIt just makes financial sense to do it in-house.\u201d<\/p>\n

In December, CleanSpark said it held 2,575 BTC<\/a> at the end of November, worth around $116 million at today\u2019s prices.<\/p>\n

CleanSpark reportedly plans to make strategies based on regulated crypto offerings, such as the option contracts traded on the Chicago Mercantile Exchange or its affiliates.<\/p>\n

\u201cWe may have to move a small amount into different accounts but we will keep the cold storage custody with holders like Coinbase with segregated accounts,\u201d Bradford added.<\/p>\n

A major Bitcoin miner plans to set up an in-house trading desk. That could have an impact on market structure in crypto. Also, it is remarkable to see the sector is morphing from a cottage industry into something like this. Exclusive below\ud83d\udc47https:\/\/t.co\/4aPhIIG9ql<\/a><\/p>\n

\u2014 David Pan (@DavidPan_1) January 2, 2024<\/a><\/p>\n

Bradford thinks more Bitcoin miners will set up in-house trading desks, adding:\u00a0<\/p>\n

\u201cThat way, you can manage it with your own risk profiles and expertise and keep a really close eye on it.\u201d<\/p>\n

CleanSpark\u2019s (CLSK) share price increased around 440% to around $11 in 2023, lifting the firm\u2019s market cap to $2 billion, according<\/a> to Google Finance.<\/p>\n

The share price appreciation erased a nearly 80% share price fall in 2022 when the cryptocurrency industry\u2019s market cap plummeted as low as $832 billion following the collapse of FTX.<\/a><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 01\/03\/2024 – 21:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/crypto\/bitcoin-miner-cleanspark-launch-house-trading-desk<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin Miner CleanSpark To Launch In-House Trading Desk By Brayden Lindrea of CoinTelegraph US-based Bitcoin miner CleanSpark Inc. reportedly plans to set up an in-house…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1447597","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-64Al","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1447597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1447597"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1447597\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1447597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1447597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1447597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}