Cryptominer CleanSpark Secures $200m in Credit Facility

Cryptominer CleanSpark this week announced it was increasing its Bitcoin-backed credit facility with Coinbase Prime by $100m. The funds will be “strategic capital expenditures,” including expanding CleanSpark's energy portfolio, scaling its Bitcoin mining operations, and investing in high-performance computing capabilities.

This week also saw the company opening a new $100m Bitcoin-backed credit facility with Two Prime. The two deals take CleanSpark’s total collateralized lending facilities to $400m.

"We are proud to expand our relationship with Coinbase Prime as we continue to add megawatts to our portfolio and take steps toward alternative use cases for some of our data centers," CleanSpark CEO Matt Schultz said. "We see tremendous opportunity to accelerate mining growth while simultaneously optimizing our assets, particularly those near major metro centers and in our immediate pipeline, through the potential development of high-performance compute campuses."

Schultz added that the company has a “range of exciting opportunities to maximize current megawatts in our portfolio, accelerate potential development of high-performance compute campuses, and further invest in our digital asset management strategies. This financing supports CleanSpark's continued evolution across all business segments."