CleanSpark Business Model Explained

CleanSpark is primarily a Bitcoin miner: it owns, leases and operates data centers and power assets across Georgia, Tennessee, Mississippi and Wyoming, and says Bitcoin mining has historically been its principal revenue-generating activity.

As of Feb. 28, CleanSpark reported a peak operational hashrate of 50.0 exahash per second, with an average operating hashrate of 43.2 EH/s and about 235,588 miners deployed across its fleet.

Why Rising Bitcoin Prices Matter For CleanSpark

The company’s business model makes rising Bitcoin prices especially important. CleanSpark says mining revenue is driven by two main variables: the quantity of Bitcoin mined and…

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Bitcoin touched $74,000 on Monday as cryptocurrencies are up more than 10% over the past week.

Notable Statistics:

Coinglass data shows 117,250 traders were liquidated in the past 24 hours for $530.47 million.

SoSoValue data shows net inflows of $180.3 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $26.7 million.

In the past 24 hours, top gainers include Artificial Superintelligence Alliance, Pepe and Zcash.

Notable Developments:

Trader Notes: Trader Crypto Tony noted that Bitcoin is currently nearing the major resistance band of $75,500. Despite the overhead supply, he remains positioned long.

Trader Pentoshi highlighted that Bitcoin has repeatedly…

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Bitcoin (CRYPTO: BTC) could bottom between $50,000 and $60,000 before rallying to $100,000 by year-end, according to major institutional strategists.

The $50,000-$60,000 Bottom Call

Jeff Kendrick, global head of digital asset research at Standard Chartered, says any dip below $60,000 is a buying opportunity with $50,000 as a potential target. 

“I could see us back to $100,000 by the end of this year,” Kendrick said, targeting mid-to-late May as when risk assets might base.

“Everything internally is improving but the price of the stock is going down,” Kendrick added, comparing crypto’s current state to Jeff Bezos describing Amazon in the late 1990s. 

The underlying infrastructure…

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The Derivatives Setup

Open interest on PEPE futures climbed 11.56% to $228.54 million while 24-hour trading volume exploded 520.51% to $1.73 billion, signaling fresh money entering rather than just short covering. 

Liquidation data showed $98,000 in short liquidations over four hours versus $327,000 in longs, suggesting the rally caught a significant portion of the short side offside while skeptics remained.

PEPE had been more aggressively sold than Dogecoin, setting up a cleaner derivatives squeeze when the macro tailwind arrived. The volume wave dwarfed PEPE’s 30-day average of 1.23 trillion tokens.

The Technical Picture

PEPE’s daily chart had been grinding lower within a descending…

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Bitcoin (CRYPTO: BTC) has cracked $73,000 but remains trapped within a broader range, leaving traders divided on whether the next major move will be higher or lower.

BTC Remains Stuck

According to prominent analyst Trader Mayne, Bitcoin is currently “diddling in the middle” of its range after sweeping liquidity at the lows and bouncing back toward the midpoint.

The key level to watch is $70,000, which roughly aligns with Monday’s high. If Bitcoin holds this level and reclaims the range high, momentum could build for a potential push toward $80,000.

However, the setup remains uncertain.

Bitcoin is currently trading around a key Fibonacci retracement level, where price often faces rejection.

Benzinga

The $140M ETH Purchase

The purchase was BitMine’s biggest this year in token terms, worth nearly $140 million at current prices. 

Total ETH holdings now stand at 4,595,562 tokens, representing 3.81% of the ETH supply. The firm maintained a $1.2 billion cash position despite ramping up acquisitions.

BitMine now stakes 3.04 million ETH, generating about $180 million in annualized revenue with potential to reach $272 million as it locks up more tokens. 

The firm has staked more ETH than any other entity in the world, with the Composite Ethereum Staking Rate at 2.79% while BitMine’s own operations generated a 7-day yield of 2.81%.

The Iran War Thesis

Chairman Thomas “Tom” Lee said recent…

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Bitcoin (CRYPTO: BTC) is trading just below the $74,000 level as the broader cryptocurrency market enters a period of relative calm, with traders closely watching upcoming macroeconomic data for the next catalyst.

After several weeks of volatility, the largest cryptocurrency by market value has spent the past two days moving within a narrow range. Market participants say the current pause reflects uncertainty around interest rate expectations, inflation trends, and global liquidity conditions that could shape the next move across risk assets.

Ethereum (CRYPTO: ETH), the second largest digital asset, has also stabilized during the same period, suggesting the broader crypto market is waiting…

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