Bitcoin Miner CleanSpark Increases Coinbase Facility to $200M

Bitcoin mining firm CleanSpark Inc. announced an increase to the firm’s credit facility with cryptocurrency platform Coinbase Global Inc. to $200 million, according to a statement on Tuesday.

• The credit facility was provided by Coinbase through the platform’s Bitcoin-collateralized lending program, according to CEO of CleanSpark, Zach Bradford
  • Proceeds from the credit facility will support “accretive growth on non-dilutive terms” and CleanSpark plans to sell a portion of monthly Bitcoin production to cover operations, according to the statement
• CleanSpark’s Bitcoin holdings now exceed 12,000, and are valued at approximately $1 billion, based on a $84,500 spot price as of April ...