CleanSpark secures $100M Bitcoin-backed credit facility

• CleanSpark raises $100M via Two Prime Bitcoin-backed loan, expanding total collateralized lending to $400M.
• Funding to support Bitcoin mining hashrate, high-performance computing, and digital asset strategies.
• Shares dip 1.1% as company leverages loans to grow operations while maintaining digital asset exposure.

Bitcoin miner CleanSpark Inc. (CLSK) announced Thursday that it has established a $100 million Bitcoin-backed credit facility with Two Prime to support its ongoing growth initiatives.

The move comes shortly after the company expanded its existing Bitcoin-backed credit line with Coinbase Prime by another $100 million, bringing CleanSpark’s total collateralized lending facilities to $400 million.

Financing to support mining and high-performance computing

According to a company statement, the new credit facility with Two Prime will be used to deploy additional Bitcoin mining hashrate, invest in high-performance computing (HPC) capabilities, and fund the company’s evolving Digital Asset Management strategies.

CleanSpark CEO Matt Schultz said the financing enables the company to “maximize current megawatts in our portfolio, accelerate potential development of high-performance compute campuses, and further invest in our digital asset management strategies.”

He added that the funding will support CleanSpark’s continued evolution across all business segments, highlighting the firm’s focus on both mining operations and broader digital asset initiatives.

CleanSpark’s mining operations and financial position

CleanSpark operates multiple data centers across the United States, strategically positioned in regions with favorable electricity pricing.

The miner reached 50 exahashes per second (EH/s) of operational hashrate as of June, according to its most recent earnings report.

By the end of the second quarter, CleanSpark’s Bitcoin treasury was valued at over $1 billion, reflecting the company’s significant position in digital assets.

The company’s approach combines strategic location selection, energy cost management, and a growing portfolio of high-performance computing capabilities.

The additional capital from the Two Prime facility provides further flexibility to expand mining capacity while continuing to explore opportunities in digital asset management.

Market reaction and strategic implications

Despite the announcement, CleanSpark’s shares were down 1.11% to $14.29 on Thursday.

The stock’s modest decline may reflect broader market dynamics in cryptocurrency and mining equities rather than investor concerns about the credit facility itself.

CleanSpark’s financing strategy underscores the growing trend among Bitcoin miners to leverage collateralized credit facilities backed by their Bitcoin holdings.

By accessing liquidity without selling assets, the company can continue expanding operations while maintaining exposure to its digital assets.

The firm’s dual focus on Bitcoin mining and high-performance computing highlights an evolving business model within the crypto sector.

CleanSpark’s ongoing investment in HPC campuses and digital asset management capabilities signals an ambition to diversify revenue streams beyond traditional mining, positioning the company to capture potential growth opportunities as the cryptocurrency and digital asset markets mature.

With a strengthened balance sheet and expanded access to capital, CleanSpark appears well-positioned to scale its operations, invest in technology infrastructure, and maintain its competitive standing in the US Bitcoin mining sector.

The recent credit facility agreements reflect a broader industry pattern where miners increasingly leverage financial instruments to accelerate growth while retaining core digital assets.