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CleanSpark, Inc. has expanded its capital strategy by securing a $200 million Bitcoin-backed credit facility from Coinbase Prime. This move marks a shift from a pure holding strategy to a more strategic selling approach, allowing the company to sell part of its monthly Bitcoin production to self-fund operations rather than diluting equity. CleanSpark currently holds over 12,000 BTC, valued at approximately $1 billion, on its balance sheet. The company aims to leverage this credit facility to enhance its operations and implement an institutional-grade Bitcoin treasury desk.
NEW: CleanSpark has expanded its credit facility with Coinbase Prime to $200 million and launched an institutional-grade Bitcoin treasury desk. With over 12,000 BTC (≈$1B) on its balance sheet, $CLSK will begin using a portion of its monthly Bitcoin production to fund https://t.co/efTjSFSxvw
BTC Parity Repurchase Agreements will be a game changer for bitcoin miners @ztownsend joined us on @Stocktwits to break down the mechanics of the repo agreements https://t.co/gN8SPOdDTY
NOW: @CleanSpark_Inc just pivoted from pure HODL to strategic selling — secured a $200M credit line from Coinbase Prime🚨 They’ll now sell part of their monthly $BTC to self-fund ops instead of diluting equity. 12K BTC on the books, $1B+ in value. Mining meets treasury strategy