According to Blockworks, Bitcoin mining company CleanSpark intends to launch an in-house trading desk. CleanSpark CEO Zachary Bradford revealed that the decision was made due to the company's large bitcoin balance, which stood at 2,575 bitcoin as of a November mining update. Bradford believes that more miners may launch in-house trading desks to manage their own risk profiles and expertise while keeping a close eye on their operations. The Nevada-based miner is a publicly traded company on Nasdaq under the ticker CLSK, with its stock up 428% over the past year.
This move follows similar actions by other miners, such as Marathon Digital, which sold Bitcoin call options contracts, according to Bloomberg. In addition to trading desks, some miners have diversified their revenue streams by offering high-performance computing. These companies are making significant investments in machinery ahead of the bitcoin halving and potential spot bitcoin ETF approvals. The US Securities and Exchange Commission is expected to provide answers to potential spot bitcoin ETF issuers by January 10th. In recent weeks, there have been numerous meetings and filed amendments as issuers work to finalize details, such as disclosing authorized participants and fees, prior to any potential launches. Bitcoin (BTC) is currently trading around $44,000 after reaching a nearly two-year high on the first day of the year.