"CleanSpark tapped an extra $100 million in credit, backed by its Bitcoin reserves. Instead of selling coins on the market, the company is leaning on its Bitcoin holdings as collateral. This is basically a strategy that turns mined Bitcoin into a working asset. For shareholders, it means growth can be funded without issuing new stock, offering a non-dilutive way to keep scaling."
""This expansion with Coinbase Prime allows us to fund growth without sacrificing shareholder equity or liquidating Bitcoin," said CEO and Chairman Matt Schultz. "We see tremendous opportunity to accelerate mining growth while also preparing select data centers for high-performance compute applications." CleanSpark said proceeds will go towards efforts like expanding its energy portfolio, scaling Bitcoin mining operations, and building out high-performance computing capabilities."
CleanSpark expanded a Bitcoin-backed credit facility with Coinbase Prime, tapping an additional $100 million backed by its Bitcoin reserves. The stock rose in after-hours trading following the financing news. The company is using Bitcoin as collateral rather than selling coins, turning mined Bitcoin into a working asset that unlocks cash while preserving upside exposure. Proceeds will fund energy portfolio expansion, scale Bitcoin mining operations, and build high-performance computing capabilities. Plans include converting facilities near metro centers into diversified compute campuses to meet growing AI and cloud service demand. The approach offers non-dilutive funding and aligns with trends among public miners.
Read at Bitcoin Magazine
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