CleanSpark Secures $100M Bitcoin-Backed Loan From Coinbase Prime
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CleanSpark Expands Capital Strategy With Bitcoin-Backed Credit
CleanSpark, a U.S.-based Bitcoin mining company focused on sustainability, has secured a $100 million credit facility from Coinbase Prime. This arrangement leverages CleanSpark's Bitcoin holdings as collateral.
Key Takeaways:
- Bitcoin-Backed Loan: CleanSpark has secured a $100 million credit line from Coinbase Prime, using its Bitcoin assets as collateral.
- Non-Dilutive Financing: The credit facility allows CleanSpark to raise capital without issuing new shares, avoiding dilution for existing shareholders.
The credit arrangement enables the mining company to access capital without issuing new shares. This reflects a growing trend among crypto companies seeking financial flexibility through non-dilutive financing methods.