Bitcoin mining company CleanSpark has secured a new $100 million credit facility from Coinbase Prime, using its Bitcoin holdings as collateral. The company announced the deal on Monday, sending shares up nearly 6% in post-market trading.
$CLSK JUMPED AS MUCH AS 8% AH AFTER ANNOUNCING INVESTMENT INTO HIGH-PERFORMANCE COMPUTING
Cleanspark announced a partnership with $COIN Coinbase Prime for $100M bitcoin-backed credit
The bitcoin mining company secured non-dilutive capital to scale Bitcoin mining and HPC growth… pic.twitter.com/hVoo7S3ZMk
— Sam Badawi (@samsolid57) September 22, 2025
CleanSpark closed at $13.74 on September 22 and gained to $14.44 in after-hours trading following the news. The mining company will use the proceeds for strategic capital expenditures across multiple business areas.
The funds will help expand CleanSpark’s energy portfolio while scaling its Bitcoin mining operations. The company also plans to invest in high-performance computing capabilities as part of its growth strategy.
CleanSpark holds approximately 13,000 Bitcoin in total, using a portion of these holdings to secure the credit facility. This approach allows the company to access capital without selling its Bitcoin or issuing new shares.
“Delivering accretive growth using non-dilutive financing is at the core of CleanSpark’s capital strategy,” said Gary A. Vecchiarelli, CleanSpark’s CFO. The company’s “Infrastructure First” strategy aims to enhance shareholder value through diversified compute opportunities.
Chief Business Officer Harry Sudock explained that CleanSpark takes a comprehensive approach to asset utilization. The company conducts thorough reviews of every power contract, plot of land, and energy relationship in its portfolio.
Some portions of CleanSpark’s power pipeline may not suit Bitcoin mining but could work well for high-performance computing. The company believes this versatility creates larger growth opportunities than focusing on a single capability.
“Versatility leads to opportunity maximization,” Sudock said. The strategy allows CleanSpark to maximize the value of every asset across its operations.
This latest deal brings CleanSpark’s total Bitcoin-backed financing from Coinbase Prime to approximately $300 million. The strategic partnership has provided the company with multiple credit facilities over time.
Many Bitcoin mining companies have pivoted toward artificial intelligence and high-performance computing in recent years. These operations require tremendous amounts of energy, making mining facilities suitable for hosting HPC machines.
CleanSpark’s leadership changes have hinted at diversification beyond Bitcoin mining. The company seeks to develop multiple revenue streams through its existing infrastructure.
The credit facility represents a non-dilutive financing approach that preserves shareholder value. Rather than selling Bitcoin or issuing new shares, CleanSpark leverages its cryptocurrency holdings to fund expansion.
Sudock emphasized that the company focuses on extracting maximum value from its Bitcoin holdings. This strategy provides investor value while enabling operational scaling across multiple business lines.
The September 22 announcement follows CleanSpark’s best quarter to date. The company continues scaling operations through strategic financing arrangements with institutional partners like Coinbase Prime.
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