Overview

• CleanSpark plans to use the facility to deploy additional mining hashrate, invest in high-performance computing, and advance digital asset management.
• The move follows a separate $100 million increase to a Coinbase Prime Bitcoin-collateralized line earlier this week.
• CFO Gary A. Vecchiarelli said the $400 million total capacity remains largely undrawn and is supported by a treasury of nearly 13,000 BTC.
• The company reports roughly 50 EH/s of operational hashrate and runs U.S. data centers in regions with favorable electricity pricing.
• Shares fell about 4.6% to roughly $13.80 on Thursday after the announcement as Bitcoin prices moved lower.