CleanSpark Secures $200M Bitcoin Credit Facility from Coinbase Prime, Holds 12K BTC Worth $1B

CleanSpark, Inc. has expanded its capital strategy by securing a $200 million Bitcoin-backed credit facility from Coinbase Prime. This move marks a shift from a pure holding strategy to a more strategic selling approach, allowing the company to sell part of its monthly Bitcoin production to self-fund operations rather than diluting equity. CleanSpark currently holds over 12,000 BTC, valued at approximately $1 billion, on its balance sheet. The company aims to leverage this credit facility to enhance its operations and implement an institutional-grade Bitcoin treasury desk. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant