CleanSpark Opens $100 Million Credit Facility With Two Prime, Reaffirms HPC Ambitions

CleanSpark has secured a $100 million bitcoin-backed credit facility with Two Prime, increasing its total collateralized lending capacity to $400 million, according to a company press release. The company claims Two Prime, amongst other partners, offers “responsibly sized leverage” at a “market-leading cost of capital”.

Proceeds from the facility are earmarked to accelerate deployment of bitcoin mining hashrate, invest in HPC capabilities, and support the company’s evolving “Digital Asset Management strategies.” CFO Gary Vecchiarelli emphasized the company’s ability to “rapidly pay down debt” through strong cash flow.

The agreement builds on CleanSpark’s existing partnerships in collateralized lending. On Monday, the company announced a $100 million credit line with Coinbase Prime.