Bitcoin mining company CleanSpark secured its second $100 million credit line this week without issuing new shares, highlighting the increasing importance of digital assets as collateral in mainstream finance.
According to disclosures on Thursday, the latest financing arrangement was made with institutional Bitcoin (BTC) yield platform Two Prime, fully backed by CleanSpark's Bitcoin treasury. With this agreement, CleanSpark's total borrowing capacity has now reached $400 million.
The non-dilutive nature of this financing is particularly noteworthy. Public companies typically raise growth capital through equity issuance, which can dilute existing shareholders' stakes. By using its nearly 13,000 BTC holdings as collateral, CleanSpark has secured liquidity while protecting shareholder value.
This deal follows another $100 million credit arrangement announced earlier this week with Coinbase Prime, which also uses Bitcoin reserves as collateral. Company representatives clarified to Cointelegraph that the financing arrangements with Two Prime and Coinbase Prime are independent and both contribute to enhancing the company's financial flexibility.
This funding provides CleanSpark with additional flexibility for rapid capital deployment while avoiding excessive leverage. The company plans to use this credit to expand data centers, increase Bitcoin hash rate capacity, and enhance its high-performance computing infrastructure.
CleanSpark is not the only company leveraging Bitcoin reserves for financing. Riot Platforms, which holds over 19,300 BTC, secured a $100 million credit line from Coinbase Prime earlier this year—marking the company's first Bitcoin-backed loan.
The rising value of Bitcoin and the wealth it creates for companies and individuals have driven demand for Bitcoin-backed loans—some investors even use these loans to purchase real estate without selling their BTC, a strategy that also helps avoid triggering capital gains taxes.
For Bitcoin miners, this trend is changing treasury management. More miners are no longer immediately selling mined BTC to cover operating costs but are holding Bitcoin on their balance sheets. As a result, borrowing against their holdings has become an attractive option.
This financing provides miners with a non-dilutive way to raise capital while maintaining exposure to potential Bitcoin appreciation. For miners with large BTC treasuries, borrowing against their holdings can sometimes be cheaper than traditional debt financing.
Related: Curve DAO supports a $60 million crvUSD credit line for new protocols
Original article: “CleanSpark Secures Second Bitcoin (BTC) Credit Line This Week Without Share Dilution”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
