CleanSpark, America’s Bitcoin Miner, has expanded its financial strategy by securing a $100 million Bitcoin-backed credit facility with Two Prime. This move brings the company’s total collateralized lending capacity to $400 million, providing additional non-dilutive capital to accelerate its data center growth and operational expansion. The funds are expected to support Bitcoin mining hashrate deployment, enhance high-performance computing (HPC) capabilities, and advance the company’s Digital Asset Management initiatives.
Financial Technology Insights: On-Demand Pay Reimagines the American Paycheck
Matt Schultz, CEO and Chairman of CleanSpark, expressed excitement over the new facility. He emphasized that this financing allows the company to optimize existing megawatts in its portfolio, develop high-performance compute campuses, and further invest in its digital asset strategies. “We have a range of exciting opportunities to maximize current resources and continue evolving across all business segments,” Schultz said.
Financial Technology Insights: Parafin Expands Embedded Financing with AI Pay Over Time
Alexander Blume, CEO of Two Prime, highlighted the importance of the partnership in providing reliable capital to institutional Bitcoin firms. “At Two Prime, we take pride in delivering fair pricing and dependable funding as the Bitcoin industry matures,” he said. “Our goal is to empower clients like CleanSpark with the resources they need to grow, and we look forward to strengthening this relationship in the future.”
Gary A. Vecchiarelli, CleanSpark’s CFO and President, added that the company has efficiently leveraged its treasury of nearly 13,000 Bitcoin to finance growth through responsibly sized leverage. He noted that the financing comes at a market-leading cost of capital and that CleanSpark remains largely undrawn on its $400 million total capacity. With strong cash flow and accretive opportunities ahead, the company is well-positioned for rapid debt repayment.
Financial Technology Insights: Pathward & Georgia Tech Launch Multi-Year FinServ Partnership
This strategic expansion of CleanSpark’s capital stack reinforces its commitment to growth, technological advancement, and innovation within the Bitcoin and digital asset ecosystem. As the company continues to scale, this funding will play a critical role in supporting its long-term operational and strategic goals.
To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com