CleanSpark Secures Two Bitcoin Backed Loans, Expands $400M
CleanSpark has secured two non-dilutive $100 million Bitcoin-backed loans this week—first from Coinbase Prime using 12,703 BTC as collateral and then from Two Prime using nearly 12,900 BTC reserves. The combined facilities expand its total credit capacity to $400 million without issuing new shares, preserving shareholder value and avoiding BTC sales. These Bitcoin-backed loans improve liquidity and represent a growing trend of institutional lending against crypto reserves among major miners like Riot Platforms and Marathon Digital, offering miners cheaper capital without diluting stakes. CleanSpark plans to deploy funds rapidly to expand data centers, mining capacity, and high-performance computing infrastructure.
Bullish
By securing two non-dilutive Bitcoin-backed loans totaling $200 million and expanding its credit facility to $400 million, CleanSpark avoids selling its BTC reserves, preserves shareholder equity, and secures lower-cost capital for expansion. This reduces net BTC selling pressure in the market and signals growing institutional confidence in crypto-backed financing. In the short term, this supports Bitcoin demand by offloading financing needs onto lenders rather than spot sales. Over the long term, increased adoption of Bitcoin-backed lending among major miners can strengthen market stability and promote broader institutional engagement, reinforcing positive sentiment around Bitcoin’s utility and investment case.