CleanSpark Secures $200M Bitcoin Credit Facility from Coinbase Prime, Holds 12K BTC Worth $1B

CleanSpark, Inc. has expanded its capital strategy by securing a $200 million Bitcoin-backed credit facility from Coinbase Prime.

CleanSpark, Inc. (NYSE: CLSK) has announced a significant capital expansion with a $200 million Bitcoin-backed credit facility from Coinbase Prime. This move marks a strategic shift for the company as it pivots from a pure holding strategy to a more hybrid approach.

CleanSpark will now be able to sell a portion of its monthly Bitcoin production to fund its operations without resorting to dilutive equity offerings. The company currently holds over 12,000 BTC, valued at approximately $1 billion, on its balance sheet.

This credit facility will be used to further enhance CleanSpark's capital structure and lay the groundwork for an institutional-grade Bitcoin treasury desk.

The company is aiming to maximize the value of its digital asset holdings while executing a measured strategy for selling a portion of its monthly Bitcoin production. This will be done in a way that is consistent with market conditions and allows for the optimal allocation of capital.

CleanSpark is a leading clean energy innovator that powers bitcoin mining and institutional investors. The company is committed to a sustainable future and uses renewable energy sources to mine bitcoin. CleanSpark also offers a unique and diverse revenue mix, setting it apart in the rapidly evolving cryptocurrency industry.

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