Overview
- The new facility follows a $100 million expansion of CleanSpark’s Coinbase Prime credit line earlier in the week, with the two arrangements operating independently.
- Management plans to deploy the capital for additional mining hashrate, data center buildouts, high-performance computing campuses, and digital asset management.
- Executives describe the financing as non-dilutive and say the $400 million total capacity remains largely undrawn, preserving balance-sheet flexibility and Bitcoin exposure.
- Shares slipped modestly after the announcement, with coverage pointing to investor caution around Bitcoin price swings, rising hashrates and collateralized leverage.
- CleanSpark reports 50 EH/s of operational hashrate and a U.S. data center footprint, reflecting a broader shift among major miners to use BTC-backed loans such as those seen at Riot and Marathon.