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Coinbase Extends $100 Million Bitcoin-Backed Credit to Miner CleanSpark
Bitcoin miner CleanSpark said Monday it has secured a new $100 million credit line from Coinbase Prime, extending its existing financing arrangements with the exchange. The credit is backed by the miner’s Bitcoin holdings and is intended to strengthen liquidity while the firm pursues “accretive growth using non-dilutive financing,” Gary A. Vecchiarelli, Chief Financial Officer and President at CleanSpark, wrote in a statement. The funds will support energy expansion, mining growth, and new high-performance computing projects, with the move building on earlier steps, the company said. In an earlier earnings call ... (full story)
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