Coinbase Grants $100M Crypto Credit to CleanSpark
CleanSpark Secures a $100 Million Credit Line from Coinbase
On September 23, 2025, CleanSpark—one of the leading Bitcoin mining companies in the United States—announced that it had expanded its credit facility with Coinbase Prime to $100 million. The loan is backed by the company’s Bitcoin holdings and aims to strengthen liquidity while laying the foundation for future strategic growth plans.
Why CleanSpark Chose Bitcoin-Backed Credit
According to Gary A. Vecchiarelli, Chief Financial Officer and President of CleanSpark, the expansion of the credit facility is a crucial step in pursuing a non-dilutive growth strategy. This means the company can raise capital without issuing additional shares, ensuring that existing shareholders do not lose ownership percentage. This marks a significant distinction from many other Bitcoin mining firms that continue to rely on equity sales or additional leverage to fund expansion.
How the Funds Will Be Used
The newly secured capital from Coinbase will be used by CleanSpark to expand its energy infrastructure, increase Bitcoin mining capacity, and launch high-performance computing (HPC) projects. This approach not only helps the company maintain a competitive edge in mining but also positions it to enter advanced technology fields with strong long-term growth potential.
CleanSpark’s Position in the Industry
As of now, CleanSpark holds 12,703 BTC, valued at approximately $1.43 billion, ranking it among the top 10 publicly traded companies with the largest Bitcoin reserves worldwide. Earlier in April 2025, the company also raised its credit facility with Coinbase to $200 million, reflecting a strong partnership and long-term strategic alignment between the two firms.
Challenges Facing the Bitcoin Mining Sector
The Bitcoin mining industry is entering one of its most challenging phases as network difficulty and hashrate continue to hit new records. Meanwhile, transaction fees have fallen below 1% of total block rewards—a historic low. At the same time, rising energy costs, mining equipment expenses, and tariffs on imported rigs from Asia are further pressuring profit margins. As a result, leveraging Bitcoin-backed credit instead of selling holdings or diluting shares has become an inevitable trend, adopted not only by CleanSpark but also by industry peers such as Hut 8 and Riot Platforms.
CleanSpark’s Stock Surges
This move has quickly generated positive momentum in the stock market. Over the past five days, shares of CleanSpark (NASDAQ: CLSK) have surged by more than 33%, according to Google Finance data. This surge underscores investor confidence in the company’s smart financing strategy and long-term growth vision.
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