Coinbase Extends $100M Bitcoin-Backed Credit Line to CleanSpark Miner
Coinbase Prime has given Bitcoin miner CleanSpark a $100 million credit line backed by CleanSpark’s own Bitcoin holdings. The financing is part of the company’s strategy to raise capital without diluting equity as mining becomes more expensive due to rising difficulty, low fees, and tariffs.
CleanSpark currently holds about 12,703 BTC (worth roughly $1.43 billion) and ranks among the top public corporate Bitcoin holders. The new facility will help fund growth—expanding energy infrastructure, mining operations, and high-performance computing projects—while maintaining liquidity.
The move is part of a broader shift in the mining industry toward using credit lines secured by Bitcoin rather than issuing new shares. Other miners like Hut 8 and Riot Platforms have also taken similar financing routes. The older challenge of equipment costs, tariffs on rigs imported from Asia, and shrinking transaction fee income puts pressure on miners to find less dilutive ways to raise capital. CleanSpark’s stock has reacted strongly, climbing over 30% in the past week.
Clever Robot News Desk 24th September 2025
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