{ "id": 48882, "date": "2025-09-23T12:37:27", "date_gmt": "2025-09-23T05:37:27", "guid": { "rendered": "https:\/\/hbbgroup.net\/cleanspark-gains-5-after-securing-100m-bitcoin-backed-loan\/" }, "modified": "2025-09-23T12:37:27", "modified_gmt": "2025-09-23T05:37:27", "slug": "cleanspark-gains-5-after-securing-100m-bitcoin-backed-loan", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/cleanspark-gains-5-after-securing-100m-bitcoin-backed-loan\/", "title": { "rendered": "CleanSpark gains 5% after securing $100M Bitcoin-backed loan" }, "content": { "rendered": "
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After its best quarter to date, CleanSpark is scaling up operations with another $100 million worth of financing from Coinbase. <\/p>\n

\"CleanSpark<\/picture><\/div>\n
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Bitcoin mining company CleanSpark rallied 5% in after-hours trading after announcing on Monday that it had secured a $100M financing deal with institutional-investor focused Coinbase Prime. <\/p>\n

The deal sees CleanSpark secure further credit from Coinbase<\/a> Prime by using a portion of its 13,000 total Bitcoin (BTC<\/a>) holdings as collateral. It will utilize the capital to scale up its Bitcoin mining ventures<\/a>, high-performance computing (HPC) capabilities and energy portfolio.\u00a0<\/p>\n<\/div>\n

CleanSpark (CLSK) shares closed Sept. 22 at $13.74, and the price has since gained around 5% to hit $14.44 in after-hours trading following the announcement. <\/p>\n

\"Cryptocurrencies,
CleanSpark gained over 5% in after hours trading. Source: <\/em>Google Finance<\/em><\/a><\/figcaption><\/figure>\n

CleanSpark scaling up both Bitcoin mining and computing <\/h2>\n
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A host of major Bitcoin mining firms have announced their pivot to AI over the past few years.<\/p>\n

When asked how much of a focus CleanSpark is putting into scaling its HPC and energy focused-ventures in comparison to Bitcoin mining, CleanSpark Chief Business Officer Harry Sudock told Cointelegraph that the company isn\u2019t necessarily looking at things in that kind of way.\u00a0 <\/p>\n<\/div>\n

\u201cWe’re not really thinking about it in terms of a ratio across the portfolio. What we’re really looking to do is maximize the value of every asset. And so that’s going to start with a comprehensive review of every power contract plot of land and energy relationship that we have contracted today,\u201d he said.\u00a0 <\/p>\n

Sudock emphasized versatility was important for CleanSpark, arguing that this will be the best and most sustainable way for the company to move forward and compete over the coming years.\u00a0<\/p>\n

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\u201cThere are portions of our power pipeline that might not be a good fit for Bitcoin mining, but would be a phenomenal fit for high-performance computing. As we get both capabilities well within our skill set, we\u2019re going to be able to have a much larger power portfolio growth opportunity than we would with one capability or the other.\u201d <\/p>\n

\u201cVersatility leads to opportunity maximization,\u201d Sudock added.\u00a0<\/p>\n<\/div>\n

CleanSpark rolls on with Bitcoin-backed loans<\/h2>\n

To date, CleanSpark has snagged roughly $300 million worth of BTC-backed financing from Coinbase Prime as part of its strategic partnership with the company.\u00a0<\/p>\n

Sudock said the company is currently focused on squeezing all the juice out of its Bitcoin to provide investor value and scale up operations. <\/p>\n