CleanSpark Joins S&P SmallCap 600, Boosting Bitcoin Mining Sector Visibility

LAS VEGAS, Nevada — Bitcoin miner CleanSpark (CLSK) will be added to the S&P SmallCap 600 index before the market opens on March 24, 2025, the company announced today. This marks CleanSpark as the second cryptocurrency miner to join the index, following the inclusion of another peer last year.

The S&P SmallCap 600 index tracks the performance of smaller publicly traded U.S. companies that meet specific financial criteria, with one of the primary requirements being a total market capitalization exceeding $1 billion. Currently, CleanSpark boasts a market capitalization of approximately $2.24 billion, despite experiencing a 13.3% decline in value this year, according to Google Finance data.

Being included in the SmallCap 600 is expected to attract increased interest from institutional investors who manage or target index funds associated with the index. Typically, companies listed in this index benefit from heightened trading volumes and enhanced liquidity, ultimately granting them a larger and more diverse investor base.

“CleanSpark’s inclusion enhances visibility within the investment community,” CleanSpark CEO Zach Bradford stated in the company announcement. “Our inclusion enhances visibility within the investment community and gives us an opportunity to demonstrate the value of being a pure play, vertically integrated Bitcoin mining company and making exposure to our model more broadly available.”

CleanSpark operates Bitcoin mining facilities across the United States, emphasizing energy efficiency and cost-effective power sources. In addition, the company has expanded its operations over the past year through the acquisition of GRIID Infrastructure, a fellow cryptocurrency miner.

CoinDesk attempted to contact CleanSpark for additional comments but had not received a response as of the publication deadline.