CleanSpark has secured a significant $100 million credit line from Coinbase Prime, expanding its earlier financing arrangements with the exchange. This credit is backed by the miner’s Bitcoin holdings, aimed at enhancing liquidity while pursuing growth without equity dilution. The funds will be allocated towards expanding energy capabilities, increasing mining output, and investing in new high-performance computing projects. CleanSpark's CFO noted that this strategic approach to finance enables the firm to maintain ownership and avoid the dilution that comes with issuing new shares, a contrast to many peers who still rely on equity sales for funding. Additionally, CleanSpark holds over 12,703 BTC valued at approximately $1.43 billion, ranking it among the largest Bitcoin holders among public companies. This move aligns with a broader trend in the crypto mining sector as firms shift towards Bitcoin-backed credit to manage rising costs and competitive pressures in an increasingly capital-intensive environment.

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