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#CleanSpark Secures Additional $100M 
$BTC-Backed Credit
CleanSpark has expanded its credit facility with #Coinbase Prime by $100 million, using a portion of its 13,000 $BTC holdings as collateral. The mining company will deploy funds across Bitcoin mining expansion, high-performance computing development, and energy infrastructure projects.
Shares gained 5% in after-hours trading following the Monday announcement. CleanSpark closed at $13.74 before rising to $14.44 as investors responded positively to the non-dilutive financing approach.
The company now maintains approximately $300 million in total $BTC-backed credit through its Coinbase Prime partnership. Chief Business Officer Harry Sudock emphasized maximizing value from every power contract and energy relationship. CleanSpark operates multiple data centers positioned in markets with favorable electricity pricing.
Their strategy involves comprehensive asset optimization rather than focusing on single revenue streams. Sudock explained that certain power contracts better suit high-performance computing while others remain ideal for Bitcoin mining. This versatility creates larger growth opportunities than single-purpose operations.
CleanSpark reported record $198.6 million revenue in its strongest quarter to date. The company mined 657 $BTC in August, representing 37.5% growth compared to the same period last year. Their operational hashrate reached 50 EH/s as of June reporting.
