CleanSpark secured a $100 million financing line from Coinbase Prime using part of its roughly 13,000 BTC holdings as collateral to scale Bitcoin mining, high-performance computing (HPC) and energy assets, supporting its recent record quarter and targeted operational expansion.
CleanSpark financing: $100M from Coinbase Prime backed by BTC collateral
Capital will fund Bitcoin mining capacity, HPC growth and energy portfolio optimization.
Q3 revenue hit $198.6M; August mining output rose to 657 BTC (up 37.5% year-over-year).
CleanSpark financing: $100M Coinbase Prime loan secured with BTC collateral — read how the company will deploy capital to scale mining, HPC and energy assets. Learn more.
What is the CleanSpark $100M financing from Coinbase Prime?
CleanSpark financing is a $100 million credit facility provided by Coinbase Prime that uses a portion of CleanSpark’s Bitcoin holdings as collateral. The funds will be deployed to expand Bitcoin mining capacity, high-performance computing (HPC) projects and the company’s energy portfolio while preserving core BTC reserves.
How will CleanSpark use the $100M to scale operations?
CleanSpark plans to allocate this capital across three core areas: increasing Bitcoin mining throughput, accelerating HPC deployments, and optimizing its energy contracts and infrastructure. Company leadership says assets will be reviewed comprehensively to maximize value for shareholders while keeping a defined portion of BTC off-limits to lending.
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CleanSpark reported a company-record quarter with $198.6 million in revenue and mined 657 BTC in August, a 37.5% increase versus August 2024. The new financing is an incremental step after approximately $300 million in BTC-backed lines secured previously from Coinbase Prime.
Why is CleanSpark using BTC-backed loans?
BTC-backed financing lets CleanSpark monetize idle Bitcoin holdings to fund growth without selling reserves. This preserves upside exposure to Bitcoin price appreciation while providing low-cost capital to expand mining hash rate, deploy HPC clusters and scale energy projects.
What did company executives say about portfolio strategy?
Harry Sudock, CleanSpark Chief Business Officer, emphasized versatility: “We’re not thinking about it in terms of a ratio across the portfolio. We aim to maximize the value of every asset.” He added that some power contracts better suit HPC than mining, and having both capabilities creates additional power portfolio opportunities.
Key financial and operational facts
- Financing: $100M incremental credit from Coinbase Prime secured with portion of ~13,000 BTC holdings.
- Previous financing: ~ $300M total BTC-backed financing from Coinbase Prime to date.
- Q3 revenue: $198.6M (company record).
- August mining: 657 BTC mined (+37.5% YoY vs Aug 2024).
- Market reaction: Shares closed Sept. 22 at $13.74 and traded up ~5% to $14.44 after-hours.
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CleanSpark says it is using a defined portion of its roughly 13,000 BTC holdings as collateral, not the entire reserve, to secure the $100 million financing and preserve upside exposure.
No. The company is accessing BTC-backed credit lines to generate liquidity while retaining ownership of most Bitcoin holdings, which avoids immediate sales and maintains potential future gains.
CleanSpark’s new $100 million financing from Coinbase Prime reinforces a capital-efficient growth strategy that leverages BTC-backed lending to expand Bitcoin mining, high-performance computing and energy portfolios. With record quarterly revenue and rising BTC output, management is prioritizing asset versatility to maximize shareholder value and operational scale.
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