CleanSpark, a Bitcoin mining company, saw a 5% increase in after-hours trading following its announcement of a $100 million financing deal with Coinbase Prime. This financing, backed by a portion of its 13,000 Bitcoin holdings, will support the company's efforts to enhance its high-performance computing (HPC) capabilities and expand its energy portfolio. CleanSpark Chief Business Officer, Harry Sudock, emphasized the company's commitment to maximizing asset value instead of focusing strictly on Bitcoin mining. This financing marks a continuation of CleanSpark's strategic approach, having already secured roughly $300 million in BTC-backed loans from Coinbase Prime. The company recently reported a record revenue of $198.6 million for the third quarter, largely owing to increased Bitcoin sales, highlighting its proactive management of Bitcoin assets for shareholder value.

Source 🔗