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CleanSpark secures $100M credit line using Bitcoin holdings as collateral in deal with Coinbase Prime, supporting expansion amid rising institutional demand.
Key Takeaways
- CleanSpark has secured a $100 million credit line from Coinbase Prime, leveraging its Bitcoin assets as collateral.
- The new credit facility provides non-dilutive financing, allowing CleanSpark to raise capital without issuing new shares.
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CleanSpark, a US-based sustainable Bitcoin mining company, secured a $100 million credit facility from Coinbase Prime, an institutional-grade platform for advanced trading and custody services.
The credit arrangement allows the mining company to leverage its Bitcoin holdings as collateral for non-dilutive financing, reflecting a broader trend among crypto companies accessing capital without issuing new shares.
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