CleanSpark (CLSK) Expands Bitcoin-Backed Credit Line by $100M with Coinbase Prime

On September 22, 2025, CleanSpark, a U.S.-based Bitcoin mining company, announced it is increasing its Bitcoin-backed credit facility with Coinbase Prime by $100 million. This move is part of its broader capital strategy aimed at scaling operations without diluting shareholder equity.

The non-dilutive financing will be used for:

• Expanding CleanSpark’s energy infrastructure

• Growing its Bitcoin mining capacity

• Investing in high-performance computing (HPC) — a potential pivot toward broader data center use cases beyond mining

Executives from both CleanSpark and Coinbase framed the expansion as a strategic evolution:

• CleanSpark sees opportunity in using its existing infrastructure near metro areas for HPC

• Coinbase views the move as advancing institutional use of digital asset infrastructure

CleanSpark’s approach, described as “Infrastructure First,” emphasizes long-term asset growth supported by low-cost, reliable energy. The company highlights this strategy as a way to drive accretive returns — in other words, investments that are expected to increase earnings per share.