CleanSpark Secures $100M Bitcoin Loan from Coinbase Prime

CleanSpark Secures $100 Million Bitcoin Loan from Coinbase Prime

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 23, 2025

Key Takeaways

CleanSpark secured a $100 million credit line from Coinbase Prime, using its Bitcoin as collateral to expand operations;
The funding will support mining growth, energy projects, and high-performance computing without issuing new shares;
CleanSpark's use of non-dilutive financing contrasts with that of its peers, who rely on share dilution or debt to raise capital.

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CleanSpark, a company focused on Bitcoin mining, has arranged a new credit agreement worth $100 million with Coinbase $2.03B Prime.

This deal increases the existing funding arrangement between the two firms and is backed by CleanSpark’s own Bitcoin BTC $112,991.82 assets.

Gary A. Vecchiarelli, who serves as the firm’s CFO and President, noted that this approach fits with CleanSpark’s goal of expanding operations through financing methods that do not dilute shareholder value.

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Funds from this agreement will be allocated to several key areas, including growing mining capacity, expanding energy infrastructure, and investing in high-performance computing projects.

In an earnings discussion held in May, Vecchiarelli explained that CleanSpark’s financial approach has reached a point where it can rely on alternative funding methods that do not involve creating new stock.

This method, known as non-dilutive financing, enables the company to bring in money without altering the ownership stakes of current investors.

He also pointed out that this strategy differs from what many competitors are doing. Some similar companies are still raising money by issuing new shares, which reduces the value for existing investors. Others are borrowing more to buy additional Bitcoin.

At the time of the announcement, CleanSpark held 12,703 BTC, with a total value of around $1.43 billion based on current prices. This makes the company the tenth-largest public holder of Bitcoin, according to Bitcoin Treasuries.

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