CleanSpark Secures $100M Bitcoin-Backed Loan for Expansion

CleanSpark Doubles Down on Bitcoin-Backed Financing

CleanSpark (CLSK), a prominent Bitcoin mining company, has secured a significant $100 million Bitcoin-backed credit facility with Two Prime, an institutional lender. This move follows a similar $100 million line of credit arranged with Coinbase Prime earlier in the week, bringing CleanSpark's total collateralized lending capacity to $400 million.

This strategic financial decision underscores a growing trend among major miners to leverage their digital assets for financing rather than relying on equity offerings.

Key Takeaways:

• Expansion Focus: The funds will be used to accelerate data center expansion and strengthen high-performance computing (HPC) initiatives.
• Bitcoin Treasury Optimization: The credit facility will also support the company's Digital Asset Management team in optimizing its Bitcoin treasury, which currently holds more than 12,000 BTC accumulated since January 2025.
• Non-Dilutive Financing: CleanSpark's approach to securing non-dilutive financing preserves shareholder value and maintains exposure to Bitcoin's price movements.

Market Reaction

Despite the positive news, CLSK shares saw a muted response in equity markets. While trading volume surged, the stock price experienced only modest gains.

CleanSpark's strategy aligns with broader industry trends of diversification and capital-efficient expansion, particularly as public miners increase their share of Bitcoin's total network hashrate.

Overall, this move reinforces Bitcoin's evolving role in corporate finance and highlights the increasing acceptance of Bitcoin as collateral for institutional lending.