Summary
- Coinbase said it provided CleanSpark with a $100 million credit facility secured by Bitcoin.
- CleanSpark said the financing is a non-dilutive financing strategy and allows it to raise growth capital without selling Bitcoin or diluting equity.
- CleanSpark said the secured funds will be used for energy infrastructure, mining equipment, and high-performance computing projects.
Coinbase is providing Bitcoin (BTC) miner CleanSpark with a $100 million credit facility.
According to Decrypt on the 23rd (KST), CleanSpark secured a $100 million credit facility from Coinbase Prime using its Bitcoin holdings as collateral.
CleanSpark said the move is part of a non-dilutive financial strategy that allows it to raise growth capital without selling Bitcoin or diluting equity. Gary Bekiarelli, chief financial officer (CFO), said, "A new financial strategy that supports both operations and long-term growth has reached maturity."
The company plans to deploy the funds to expand energy infrastructure, increase mining equipment, and for high-performance computing projects. CleanSpark already carried out a facility expansion with Coinbase in April of up to $200 million.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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