CleanSpark is leaning on its Bitcoin reserves to power the next stage of its growth.
The U.S. mining company has expanded its credit line with Coinbase Prime by $100 million, giving it fresh capital to pursue projects well beyond standard mining.
The company plans to funnel the funds into three fronts: energy infrastructure, scaling hashrate, and building out high-performance computing capabilities in selected data centers. CEO Matt Schultz framed the move as part of a longer-term vision, noting that CleanSpark is preparing for “alternative use cases” that could eventually diversify revenue streams.
For CleanSpark, the appeal of Bitcoin-backed lending lies in growth without dilution. CFO Gary Vecchiarelli stressed that non-dilutive financing is central to its capital strategy, allowing the firm to expand aggressively while keeping shareholder equity intact.
The miner has already built significant momentum. As of June, it reported 50 EH/s of operating hashrate, while its Bitcoin holdings surpassed $1 billion in value. By concentrating facilities in regions with cheaper energy, CleanSpark has positioned itself to weather industry volatility while continuing to add capacity.
The deal highlights Coinbase Prime’s growing role as a lender to institutional crypto firms. For CleanSpark, the partnership cements access to flexible capital at a moment when the company sees “tremendous opportunity” to scale and experiment with new business lines.
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Source: https://coindoo.com/bitcoin-miner-cleanspark-taps-coinbase-for-100m-credit-line/