Two publicly traded companies—CleanSpark in the United States and Green Minerals in Norway—have announced major steps forward in their respective Bitcoin strategies, signaling continued momentum in institutional adoption of the asset. While CleanSpark achieved a milestone of 50 exahashes per second (EH/s) in mining capacity with plans to reach 60 EH/s, Green Minerals is initiating a Bitcoin treasury program worth up to $1.2 billion as part of a broader blockchain integration effort. Despite differing operational focuses, both companies aim to position Bitcoin as a key part of their financial and strategic planning.
CleanSpark Hits 50 EH/s Milestone, Cementing Status as One of the World's Largest Bitcoin Mining Firms
US-based Bitcoin mining powerhouse CleanSpark Inc. (NASDAQ: CLSK) announced on Tuesday that it has surpassed 50 exahashes per second (EH/s) in operational hashrate, placing it firmly among the world’s top mining entities. The milestone represents a new era of scale and efficiency for the company, which now operates over 30 mining facilities across Georgia, Mississippi, Tennessee, and Wyoming.
The achievement is part of CleanSpark’s aggressive expansion strategy and signals a growing consolidation of hashrate among US public miners as the Bitcoin network becomes increasingly competitive post-halving.
Powering the Future with 50 EH/s
Hashrate is a critical metric in the Bitcoin ecosystem, indicating how much computational power is being deployed to secure the network and validate transactions. A higher hashrate directly increases the likelihood of earning Bitcoin mining rewards. Reaching 50 EH/s is not only a testament to CleanSpark’s operational prowess but also a strategic defense against volatility and halving-induced revenue compression.
CleanSpark’s vertically integrated infrastructure has proven instrumental in reaching this milestone. By directly managing its energy procurement and operational footprint, the company is able to minimize downtime and optimize margins — a critical advantage in an industry where power costs can make or break profitability.
The company’s mining fleet is powered by a diverse mix of energy sources across its facilities, many of which leverage favorable power agreements and renewable energy options. This strategic flexibility allows CleanSpark to withstand fluctuations in electricity markets while maintaining efficient and reliable mining operations.
Eyes Set on 60 EH/s
The firm isn’t stopping at 50 EH/s. CEO Zach Bradford confirmed that CleanSpark is on track to reach 60 EH/s in the near term, which would further solidify its ranking among the global mining elite. The planned scale-up comes at a pivotal time, as many smaller and less efficient mining firms have struggled to remain profitable in the wake of the April 2024 halving, which cut Bitcoin block rewards in half from 6.25 BTC to 3.125 BTC.
The move also reflects broader institutional confidence in Bitcoin’s long-term value proposition — a belief increasingly shared by public miners who are choosing to hold their mined BTC rather than sell at market lows.
In addition to mining at scale, CleanSpark’s Digital Asset Management division has begun actively managing its 12,500+ self-mined BTC — a significant treasury now being deployed to generate passive returns. Bradford emphasized that the firm’s approach allows it to finance growth without diluting shareholder equity.
Rather than sell Bitcoin on the spot market, CleanSpark is reportedly exploring strategies like Bitcoin-backed lending, liquidity provision, and strategic DeFi deployments. This treasury-first strategy mirrors moves made by other institutional players, such as MicroStrategy and Marathon Digital, who are treating Bitcoin not just as a mined asset but as an active balance sheet tool.
CleanSpark's Institutional Ascent
CleanSpark's rise has come at a time of renewed attention on institutional Bitcoin adoption and US mining dominance. Following the halving, the barriers to entry in Bitcoin mining have risen considerably, pushing smaller miners out and giving large-scale, energy-efficient operations a commanding advantage.
The firm's ability to scale efficiently and capitalize on treasury management has made it a darling of institutional investors, many of whom view Bitcoin mining equities as high-beta plays on the underlying asset.
With CleanSpark's next goal of 60 EH/s on the horizon and a growing portfolio of managed BTC assets, the company appears well-positioned to capitalize on the next Bitcoin bull cycle — especially as demand surges from spot ETFs, sovereign wealth funds, and corporate treasuries.
As Bitcoin's supply issuance slows and network difficulty increases, the firms that can mine most efficiently and deploy their capital with strategic foresight are likely to define the next decade of crypto infrastructure. CleanSpark is making a strong case that it intends to be one of them.
Green Minerals Unveils $1.2 Billion Bitcoin Treasury Strategy Amid Deep Sea Mining Uncertainty
Meanwhile, Norwegian deep sea mining firm Green Minerals ASA made waves in the financial and cryptocurrency sectors on Tuesday after announcing that it would invest up to $1.2 billion—in collaboration with its partners—to build a Bitcoin treasury, marking one of the boldest moves yet by a publicly traded European company to adopt Bitcoin as a reserve asset.
The Euronext Growth Oslo-listed company said in a statement that it plans to acquire its first Bitcoin “in the next few days,” framing the move as a long-term strategy to integrate blockchain technologies and hedge against fiat currency risks. Executive Chairman Ståle Rodahl emphasized that the initiative would help “safeguard long-term value” while reinforcing the company’s mission of financial innovation and sustainable development.
“Bitcoin’s decentralized, non-inflationary properties make it an attractive alternative to traditional fiat,” Rodahl said. “By integrating a Bitcoin treasury strategy, we are not only mitigating fiat risks but also reaffirming our commitment to financial innovation and the sustainable creation of long-term value.”
Strategic Pivot Amid Regulatory Hurdles
Green Minerals’ announcement comes at a precarious time. The company’s core business—mining deep sea minerals such as cobalt and rare earth elements—has come under increasing pressure from both environmental advocates and regulators. In 2024, Norway’s government ordered a moratorium on deep sea mining, freezing plans to issue permits originally slated for 2025. That decision was followed last week by another policy shift: the Norwegian Labor government proposed a temporary ban on new power-intensive crypto mining operations, citing better use cases for the country’s energy grid, such as community data centers.
Despite these hurdles, Green Minerals appears to be embracing a parallel pivot into blockchain and crypto assets—a move increasingly common among public companies seeking alternatives to volatile fiat and legacy banking systems.
Rodahl said the Bitcoin treasury would not replace the company’s existing operations but would serve as a financial foundation to support upcoming capital expenditures tied to its mining ambitions. “The program offers a robust hedge against currency debasement, particularly valuable for a company with a long project horizon,” he stated.
Beyond Bitcoin accumulation, Green Minerals signaled its broader intent to integrate blockchain solutions into its mining operations. The company cited supply chain transparency, mineral origin certification, and operational efficiency as key blockchain-enabled improvements, suggesting a hybrid approach that aligns Web3 technology with industrial resource development.
This mirrors growing interest in blockchain-based supply chain solutions among mining and logistics firms worldwide, where immutability and decentralization can ensure authenticity and sustainability—a key selling point in the increasingly ESG-conscious investment world.
Following Strategy’s Playbook
Green Minerals’ Bitcoin pivot follows a growing trend led by Strategy (formerly MicroStrategy) and its chairman Michael Saylor, who has famously turned his enterprise software company into a Bitcoin powerhouse with more than 592,300 BTC—worth over $62 billion—held on its balance sheet.
According to bitcointreasuries.com, more than 245 public companies now hold Bitcoin, a number that has grown by 13% in the past month alone, with cumulative holdings exceeding $88 billion. Other companies like Upexi, Wellgistics Health, and DeFi Development Corp. have taken a similar path, albeit expanding their crypto exposure to include assets like XRP and Solana.
Bitcoin treasury data (Source: Bitcointreasuries)
While Green Minerals did not specify how many BTC it intends to accumulate initially, the $1.2 billion ceiling implies a substantial potential purchase that would instantly rank the firm among the top institutional holders of Bitcoin globally.
Despite the bold announcement, investors responded with concern. Shares of Green Minerals plunged nearly 35% on Tuesday following the news, as markets weighed the ambitious Bitcoin strategy against regulatory uncertainty and ongoing setbacks in its core mining business.
Critics argue that the company may be diverting focus from its already embattled seabed mining initiatives at a time when public sentiment and government policy are increasingly aligned against extractive oceanic practices.
Additionally, Norway’s energy politics present a complicating factor. The government’s call for a reassessment of power-intensive industries—including crypto mining—could ultimately restrict Green Minerals’ ability to scale any digital asset-related ventures domestically, especially if future infrastructure needs intersect with regulatory bottlenecks.
A Long-Term Bet on Bitcoin
Regardless of short-term turbulence, Green Minerals is positioning itself as an early European adopter of Bitcoin as a strategic treasury asset—a bold bet that aligns it with a growing cohort of global firms seeking refuge from inflationary fiat regimes and volatile commodity cycles.
The company’s move also brings attention to a broader shift: as environmental regulations tighten and capital becomes harder to secure in traditional markets, Bitcoin is increasingly viewed not just as an investment, but as a core financial infrastructure—especially by firms with long timelines and high exposure to macroeconomic risk.
Whether Green Minerals can execute this vision successfully—and appease skeptical investors—remains to be seen. But in committing up to $1.2 billion to Bitcoin, the company has made clear that it sees the world’s leading digital asset not just as a hedge, but as a cornerstone for future value creation.
