CleanSpark Lands Massive $100M Bitcoin-Backed Credit Facility from Coinbase Prime
Bitcoin mining just got a nine-figure vote of confidence from Wall Street's crypto gateway.
THE DEAL THAT CHANGES THE GAME
CleanSpark just secured a $100 million credit line using Bitcoin as collateral through Coinbase Prime—proving digital assets now hold real weight in traditional finance. The mining operation bypasses conventional lending channels entirely, leveraging its BTC holdings to fuel expansion without selling a single satoshi.
WHY THIS HURTLES MINING INTO MAINSTREAM FINANCE
This isn't just funding—it's validation. Coinbase Prime doesn't hand out nine-figure loans to unproven ventures. The move signals institutional recognition that Bitcoin mining operations represent legitimate, collateral-worthy businesses. CleanSpark's ability to use dormant BTC stacks as working capital transforms balance sheets from static to dynamic.
THE NEW COLLATERAL REALITY
Forget property or securities—Bitcoin now stands as acceptable collateral for nine-digit credit facilities. The deal creates a blueprint for other miners to unlock liquidity without dilution. It's almost enough to make you forget traditional banks still treat crypto like radioactive waste.
Watch legacy lenders scramble to catch up while Bitcoin-native financing quietly builds the next financial system.
$0.000057 mining company, has announced an expansion of its agreement with Coinbase Prime, securing an additional $100 million Bitcoin-backed credit line. The company intends to use these funds to enhance its energy infrastructure, increase mining capacity, and implement high-performance computing solutions at several facilities.
ContentsExpansion of the Financial StrategyOperational Capacity and Market Impact
Expansion of the Financial Strategy
This new credit line from Coinbase Prime will play a crucial role in CleanSpark’s capital expenditures. Gary Vecchiarelli, the company’s Chief Financial Officer and President, emphasized that CleanSpark prioritizes non-dilutive financing in its growth strategy. This approach enables the company to acquire capital without the need to issue new shares.
CleanSpark’s CEO, Matt Schultz, stated that the funding provides an opportunity to increase mining capacity and optimize existing assets. Schultz noted that strengthening the collaboration with Coinbase Prime allows CleanSpark to add new megawatt capacity to its data centers and prepare certain facilities for alternative usage scenarios.
The company aims to accelerate its growth rate with this agreement, while also intending to utilize its data centers not only for mining but also for high-performance computing.
Operational Capacity and Market Impact
Operating across various states in the US, CleanSpark benefits from competitive advantages by locating in regions with low electricity costs. In June, the company increased its operational hash rate to 50 EH/s and raised the value of its Bitcoin reserves to over $1 billion during the same period.
Following the announcement, CleanSpark’s shares saw an uptick, closing Monday with a 0.88% increase at $13.74. An additional gain of nearly 5% was recorded in after-hours trading, reflecting investors’ positive response to the company’s financial strategy and growth plans.
The scale of CleanSpark’s operations and the level of its bitcoin assets bolster the company’s position within the industry. The newly acquired credit line is central to its future expansion plans.
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