Overview

• CleanSpark said the new credit facility is backed by its Bitcoin reserves, allowing it to retain mined coins while accessing capital.
• Funds are earmarked for expanding the energy portfolio, scaling mining capacity, and developing high-performance computing at select sites near major metro areas.
• CEO Matt Schultz framed the move as a non-dilutive way to accelerate growth, while Coinbase Institutional head Brett Tejpaul highlighted Coinbase Prime’s custody and credit infrastructure.
• The company holds 12,703 BTC, ranking among the largest public-company Bitcoin treasuries, according to Bitcoin Treasuries data.
• This step builds on an earlier Coinbase Prime facility expansion reported in April and reflects a broader shift among miners such as Hut 8 and Riot toward Bitcoin-backed credit as operating pressures rise.