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CleanSpark Shares Rise After Getting $100M Bitcoin-Backed Credit From Coinbase Prime
The credit facility allows CleanSpark to leverage its bitcoin holdings to fund expansion without selling the asset.
By Aoyon Ashraf
Sep 22, 2025, 10:04 p.m.
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What to know:
- CleanSpark has secured a $100 million credit facility with Coinbase Prime, which will allow it to access capital without selling its bitcoin holdings.
- The company plans to use the funds to expand its energy portfolio, scale bitcoin mining operations, and invest in high-performance computing capabilities.
- CleanSpark's strategy focuses on non-dilutive financing to enhance shareholder value and diversify into other revenue opportunities beyond bitcoin mining.
Bitcoin mining company CleanSpark (CLSK) has secured a new $100 million credit facility with Coinbase Prime, giving it access to fresh capital without selling its bitcoin holdings or raising equity.
The shares rose nearly 6% in post-market trading, after the announcement on Monday.
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The mining company will use the proceeds for strategic capital expenditures, including expanding CleanSpark’s energy portfolio, scaling its bitcoin mining operations, and investing in high-performance computing (HPC) capabilities, the company said in a press release.
Rather than selling bitcoin to raise cash or selling additional shares of the firm—a move that can dilute the current shareholders—CleanSpark is using the asset as collateral to keep growing while holding on to what it mines.
"Delivering accretive growth using non-dilutive financing is at the core of CleanSpark's capital strategy," said Gary A. Vecchiarelli, CleanSpark's CFO. "Our 'Infrastructure First' strategy has been proven historically and will further enhance shareholder value as we expand into more diversified compute opportunities."
The new raise comes after recent leadership changes hinted at the miner going beyond just mining bitcoin and diversifying into other revenue opportunities. The focus on HPC isn't surprising, as more and more bitcoin miners are pivoting into hosting machines that cater to HPC and artificial intelligence computing, which requires a tremendous amount of energy, in their data centers.
Read more: GPU Gold Rush: Why Bitcoin Miners Are Powering AI’s Expansion
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