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2h ago

CleanSpark Adds $100 Million Bitcoin-Backed Credit From Coinbase to Fuel Expansion

The non-dilutive facility lets the miner use Bitcoin collateral to fund growth across energy, mining, high‑performance computing.

Cleanspark shares rise after getting $100m bitcoin backed credit from coinbase prime
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Overview

  • CleanSpark said Monday it secured an additional $100 million credit line from Coinbase Prime backed by its Bitcoin holdings.
  • The company plans to deploy the funds to expand its energy portfolio, scale Bitcoin mining operations, and build out high‑performance computing campuses near major metro centers.
  • The new facility lifts CleanSpark’s total Coinbase Prime financing to roughly $300 million, extending earlier arrangements this year.
  • Shares rose about 5% to 8% in after‑hours trading following the announcement and moved higher again on Tuesday, reflecting investor support.
  • Executives called the move a non‑dilutive financing strategy that preserves Bitcoin exposure, with the company holding roughly 12,700–13,000 BTC, as peers also turn to BTC‑backed credit under rising industry costs.