CleanSpark Increases Bitcoin Credit Facility to $200 Million and Launches Treasury Desk

CleanSpark has expanded its credit facility with Coinbase Prime to $200 million, launching a Bitcoin treasury desk to manage over 12,000 bitcoins worth approximately $1 billion. The new strategy involves using part of its Bitcoin output to meet operational costs while targeting 50 exahash per second in mining capacity. This move illustrates the company’s shift toward enhanced financial management and reduced reliance on equity sales.

CleanSpark, Inc. (Nasdaq: CLSK), a leading U.S. Bitcoin mining firm, has announced an expansion of its credit facility with Coinbase Prime (Nasdaq: COIN) to $200 million. This credit line, secured by Bitcoin, is designed to fund the company’s operations without the necessity of issuing new shares. Additionally, CleanSpark has launched a Bitcoin treasury desk, which will manage financing activities related to its extensive digital asset portfolio, surpassing 12,000 bitcoins valued at approximately $1 billion based on an April 2025 Bitcoin price of $84,500.

Under its revised strategy, CleanSpark intends to utilise a portion of its monthly Bitcoin production to meet operating expenses rather than holding onto all mined bitcoins. This approach, initiated in mid-2023, aims to strike a balance between operational needs and the retention of Bitcoin reserves. CEO Zach Bradford emphasised this strategy to optimise resource management and ensure financial stability as the company expands its operations.

The introduction of the expanded credit facility and the treasury desk highlights CleanSpark’s commitment to diversified financial management amid its growth ambitions, targeting an increase in mining capacity to 50 exahash per second. This shift could potentially reduce the company’s reliance on equity sales, a typical practice in the industry, particularly in response to the high operational costs faced by Bitcoin miners.

Furthermore, the partnership with Coinbase Prime exemplifies the increasing connections between cryptocurrency miners and institutional finance avenues as the demand for flexible funding mechanisms grows in response to Bitcoin’s fluctuating value. The Bitcoin mining sector, characterised by intense energy and computational requirements, is navigating a landscape of price volatility and regulatory scrutiny, with CleanSpark operating in energy-friendly regions of the U.S.

Mining activities are closely linked to the overall adoption of cryptocurrencies. While the business faces challenges such as energy consumption concerns, miners are increasingly utilising financial tools, including lending, to ensure stable cash flow, thus adapting to market dynamics and operational hurdles.