Catenaa, Saturday, September 27, 2025- Bitcoin miner CleanSpark announced Monday that it has obtained a $100 million credit facility from Coinbase Prime, secured against its BTC holdings, to fund expansion and infrastructure projects without liquidating coins.
The company said the non-dilutive financing will support energy buildouts, mining capacity, and high-performance computing initiatives.
CleanSpark CEO Matt Schultz emphasized the opportunity to accelerate mining growth while optimizing existing assets, particularly those near major metropolitan centers.
CFO Gary Vecchiarelli confirmed the line extends CleanSpark’s prior arrangements with Coinbase and enhances liquidity for strategic investments.
CleanSpark holds 12,703 BTC, valued at approximately $1.43 billion, making it one of the largest public company holders of bitcoin.
The credit line allows miners to leverage BTC as collateral, preserving treasury balances and timing market sales more effectively. Industry peers have followed similar approaches, with Hut 8 and Riot Platforms also expanding BTC-backed facilities earlier this year.
Rising hashrate and record network difficulty have squeezed miner margins, while transaction fees fell below 1% of block rewards in August.
Costs have climbed due to hardware tariffs and logistics challenges, increasing pressure on mining operations. Despite these factors, CleanSpark reported revenue of $198.6 million in the fiscal third quarter, up 91% from the previous year, with net income reaching $257.4 million.
Analysts say BTC-backed credit lines now function as critical bridges between volatile cash flows and steady infrastructure needs, allowing companies to scale operations without forcing asset sales. CleanSpark’s approach underscores a growing trend among miners to combine treasury management with operational efficiency in a challenging market environment.
