Bitcoin mining company CleanSpark announced a $100 million financing agreement with Coinbase Prime on Monday, leading to a 5% increase in after-hours trading.
In this transaction, CleanSpark used part of its 13,000 bitcoins as collateral to obtain additional credit from Coinbase Prime. The company plans to use these funds to expand its bitcoin mining, high-performance computing (HPC), and energy businesses.
CleanSpark (CLSK) shares closed at $13.74 on September 22, and after the announcement, after-hours trading rose about 5% to $14.44.
According to Cointelegraph, CleanSpark's Chief Business Officer Harry Sudock stated that the company does not measure by proportion.
He said, "We are not considering it in terms of portfolio proportion. What we really care about is maximizing the value of each asset, so we will conduct a comprehensive review of all signed power contracts, land, and energy partnerships."
Sudock emphasized that diversification is crucial for CleanSpark, believing it is the best way for the company to sustain growth and compete in the coming years.
"Some power resources may not be suitable for bitcoin mining but are very suitable for high-performance computing. As both businesses continue to mature, the company will have growth opportunities in power resources that far exceed a single business."
Sudock added, "Diversification can maximize opportunities."
So far, CleanSpark has secured approximately $300 million in bitcoin collateral financing through its strategic partnership with Coinbase Prime.
Sudock stated that the company is currently focused on fully leveraging the value of its bitcoin holdings to enhance investor returns and expand its operations.
He said, "We hold nearly 13,000 bitcoins on our balance sheet. We want to make these bitcoins create value for the company and shareholders."
Sudock also pointed out that the company is only using part of its bitcoins as loan collateral, not all of its assets.
The company's latest expansion comes as it achieves record performance—third-quarter revenue reached $198.6 million, setting a new company record.
The revenue growth is attributed to the company mining a total of 657 bitcoins in August, a 37.5% increase compared to the same month in 2024.
Related: ETHZilla launches a new $350 million fund to bet on Ethereum (ETH)
Original article: “CleanSpark's stock rises 5% after securing a $100 million bitcoin (BTC) collateral loan”
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。
