Coinbase Provides $100 Million BTC-Backed Financing To Miner CleanSpark

CleanSpark said Monday it secured a new $100m credit line from Coinbase Prime, extending the miner’s existing arrangements with the exchange and adding fresh liquidity for ￰1￱ facility is backed by CleanSpark’s Bitcoin holdings and aims to fund “accretive growth using non-dilutive financing,” Gary A. Vecchiarelli, CFO at CleanSpark, wrote in a ￰2￱ company said the proceeds will support energy buildouts, mining capacity and new high-performance computing projects. “We see tremendous opportunity to accelerate mining growth while simultaneously optimizing our assets, particularly those near major metro centers and in our immediate pipeline,” CleanSpark CEO Matt Schultz said. ￰0￱ — CleanSpark Inc.

(@CleanSpark_Inc) September 22, 2025 With BTC Holdings At $1.43b, CleanSpark Leans On Credit Rather Than Selling Coins The deal builds on earlier ￰3￱ expanded its facility with Coinbase Prime by up to $200m in April, part of a broader shift among miners toward revolving credit secured by Bitcoin rather than equity issuance or coin ￰4￱ have moved in the same ￰5￱ 8 doubled its line to $130m in June, while Riot Platforms tapped Coinbase for a $100m arrangement in ￰6￱ lines give miners flexibility to post BTC as collateral, preserve treasury balances and time market sales more ￰7￱ holds 12,703 BTC, worth about $1.43b at current prices, and ranks among the largest public company holders, according to Bitcoin Treasuries ￰8￱ company said the added credit will help match capital needs with a network that keeps getting ￰9￱ Hashrate And Lower Fees Squeeze Miner Margins, Costs Keep Rising Bitcoin’s hashrate and difficulty have reached records this year, while transaction fees fell below 1% of block rewards in August, reducing a variable revenue ￰10￱ a result, miners lean more on fixed subsidies and balance sheet tools to manage rising energy and equipment ￰11￱ have also climbed due to hardware and ￰12￱ early as March, tariffs on imported rigs from Asia added to the burden, creating potential liabilities for past shipments and complicating procurement timelines for US ￰13￱ so, CleanSpark posted its strongest quarter last month , reporting revenue of $198.6m for its fiscal third quarter, up 91% from $104m a year earlier and ahead of analyst forecasts of about $195m.

Net income rose to $257.4m, reversing a loss of $236.2m in the prior year period. BTC-backed financing now functions as a bridge between volatile cash flows and steady infrastructure ￰14￱ prices are firm, collateral capacity rises and lines can be ￰15￱ prices soften, the structure can still reduce forced selling, especially when treasuries are ￰16￱ miners, that mix of credit access, treasury management and network efficiency has become central to strategy.