CleanSpark Secures $100M Coinbase Bitcoin-Backed Facility

CleanSpark secured a $100 million Bitcoin-backed credit facility from Coinbase Prime to strengthen liquidity and pursue accretive, non-dilutive growth, with proceeds earmarked for energy expansion, scaling bitcoin mining operations and building high-performance computing capabilities. The financing lets the company leverage its roughly 12,703 BTC holdings (about $1.43 billion) as collateral rather than selling bitcoin or issuing equity, and follows earlier expansions of its Coinbase Prime facility this year. Management says the move preserves shareholder value while funding a pivot toward diversified compute campuses and energy investments to support mining scale and new HPC opportunities. Investors reacted positively, sending shares up roughly 6–8% in after-hours and post-market trading. The deal mirrors an industry trend of miners using bitcoin-backed credit while diversifying into AI/HPC and energy-focused infrastructure.