Bitcoin miner CleanSpark to join S&P SmallCap 600 index as shares decline alongside BTC
Quick Take
- U.S.-based bitcoin miner CleanSpark said it will join the S&P SmallCap 600 index later this month.
- The company’s shares fell about 5% as bitcoin’s price also declined on Monday.
U.S.-based bitcoin miner CleanSpark will join the S&P SmallCap 600 index later this month, according to a statement released Monday.
Despite the news, however, the company's shares fell about 5%, mirroring bitcoin's price decline of about 4%.
CleanSpark's shares were changing hands at $8.40 as of 12:40 p.m. ET, according to Yahoo Finance. In February, the company said it generated $162.3 million in revenue during last year's fourth quarter, a 120% increase year-over-year.
"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 CEO Zach Bradford said in a statement.
Last year, Marathon Digital’s shares jumped by 18%, after S&P Global announced the bitcoin miner would be added to the SmallCap 600 index.
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