Markets, CleanSpark, Bitcoin Mining, btc The firm, which focuses on energy-efficient mining operations, has been increasing its operations over the previous yr together with by way of an acquisition. 

Bitcoin (BTC) miner CleanSpark (CLSK) is about to hitch the S&P SmallCap 600 index earlier than the market opens on March 24, the corporate announced.

CleanSpark is the second crypto miner to be added to the index after peer Marathon Digital was added to the listing final yr.

The index measures the efficiency of smaller publicly traded U.S. companies that meet particular monetary standards, together with profitability. To be included within the index, shares should have a complete market capitalization above $1 billion.

CleanSpark’s market capitalization presently stands at $2.24 billion, regardless of a 13.3% drawdown to date this yr, in response to Google Finance knowledge. The inclusion within the index might deliver larger consideration to CleanSpark from institutional traders who monitor or spend money on index funds tied to the S&P SmallCap 600.

Companies within the index usually profit from elevated buying and selling quantity and improved liquidity, making their shares extra accessible to a broader pool of traders.

“CleanSpark’s inclusion enhances visibility within the investment community,” CEO Zach Bradford mentioned within the announcement. “Our inclusion enhances visibility inside the funding group and offers us a chance to show the worth of being a pure play, vertically built-in Bitcoin mining firm and making publicity to our mannequin extra broadly accessible.”

CleanSpark operates bitcoin mining amenities throughout the U.S., specializing in power effectivity and cost-effective energy sources. The firm has expanded its operations over the previous yr with the acquisition of peer GRIID Infrastructure.

CoinDesk reached out to CleanSpark for remark however hasn’t heard again by press time.

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