CleanSpark, a bitcoin mining company, has secured a $100 million credit facility from Coinbase Prime that allows it to leverage its bitcoin holdings without selling them. This financing will enable CleanSpark to enhance its energy portfolio, expand bitcoin mining operations, and invest in high-performance computing capabilities. Following the announcement, CleanSpark’s shares rose nearly 6% in post-market trading. This strategy aligns with the company’s goal to utilize non-dilutive financing methods to boost shareholder value and diversify revenue streams beyond just bitcoin mining. Gary A. Vecchiarelli, CleanSpark’s CFO, emphasized that their capital strategy focuses on delivering growth without diluting current shareholder shares. The financing arrangement indicates CleanSpark’s intention to expand into more diversified compute opportunities as the bitcoin mining landscape evolves, particularly into high-performance computing.

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