TLDR CleanSpark’s stock rose by 6% in after-hours trading following the announcement of a $100M Bitcoin-backed credit line with Coinbase. The company will use its Bitcoin holdings as collateral instead of selling coins or issuing new shares to fund growth. CleanSpark plans to use the funds to expand its energy portfolio, scale Bitcoin mining operations, [...] The post CleanSpark’s Stock Jumps 6% After Securing $100M Bitcoin Credit Line appeared first on Blockonomi.TLDR CleanSpark’s stock rose by 6% in after-hours trading following the announcement of a $100M Bitcoin-backed credit line with Coinbase. The company will use its Bitcoin holdings as collateral instead of selling coins or issuing new shares to fund growth. CleanSpark plans to use the funds to expand its energy portfolio, scale Bitcoin mining operations, [...] The post CleanSpark’s Stock Jumps 6% After Securing $100M Bitcoin Credit Line appeared first on Blockonomi.

CleanSpark’s Stock Jumps 6% After Securing $100M Bitcoin Credit Line

2025/09/23 05:56

TLDR

  • CleanSpark’s stock rose by 6% in after-hours trading following the announcement of a $100M Bitcoin-backed credit line with Coinbase.
  • The company will use its Bitcoin holdings as collateral instead of selling coins or issuing new shares to fund growth.
  • CleanSpark plans to use the funds to expand its energy portfolio, scale Bitcoin mining operations, and develop high-performance computing capabilities.
  • The new credit facility aligns with CleanSpark’s strategy to leverage Bitcoin as a working asset while avoiding shareholder dilution.
  • CleanSpark’s stock has increased by 33% over the last five trading days, reflecting positive investor sentiment.

CleanSpark Inc.’s stock surged following the announcement of a $100 million Bitcoin-backed credit facility with Coinbase Prime. The company’s stock rose 6% in after-hours trading, reaching $14.60, building on the previous week’s gains. CleanSpark closed regular trading at $13.74 but jumped to $14.86 post-announcement, reflecting investor optimism.

CleanSpark Leverages Bitcoin for Credit

CleanSpark has tapped an additional $100 million in credit, using its Bitcoin holdings as collateral. This strategic move allows the company to access capital without liquidating Bitcoin or issuing new shares. CEO Matt Schultz stated,

The credit line reflects CleanSpark’s approach of using its Bitcoin reserves as an asset rather than selling them. This tactic provides a non-dilutive method of financing growth while maintaining exposure to Bitcoin’s potential upside. CleanSpark’s decision to rely on Bitcoin-backed credit shows the company’s growing confidence in the cryptocurrency’s long-term value.

The mining company plans to use the funds for several key initiatives, including expanding its energy portfolio and scaling Bitcoin mining operations. In addition, CleanSpark aims to develop high-performance computing capabilities by converting select facilities into diversified compute campuses. These campuses will target the increasing demand for AI and cloud services in metro areas.

Strategic Expansion in Bitcoin Mining and Computing

CleanSpark is capitalizing on its Bitcoin reserves to enhance its mining capacity and energy efficiency. The company’s focus on energy innovation allows it to stay ahead in the competitive landscape of U.S.-based Bitcoin miners. With the expanded credit facility, CleanSpark can continue to scale its operations without diluting shareholder value.

The company’s flexibility is evident as it branches into high-performance computing beyond traditional Bitcoin mining. CleanSpark’s decision to diversify operations reflects its readiness to adapt to changing industry dynamics, positioning CleanSpark as a forward-thinking player in the cryptocurrency and computing sectors.

Brett Tejpaul, head of Coinbase Institutional, praised CleanSpark’s capital strategy, calling it “a significant step forward for growing the crypto ecosystem.” The credit facility from Coinbase Prime provides the necessary infrastructure for CleanSpark’s expansion.

CleanSpark’s stock has risen 33% over the last five trading days, a sign of investor confidence. With this new credit facility, CleanSpark aims to accelerate its growth while strengthening its position in the cryptocurrency and computing markets.

The post CleanSpark’s Stock Jumps 6% After Securing $100M Bitcoin Credit Line appeared first on Blockonomi.

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Synthetix to launch first perps DEX on Ethereum mainnet

Synthetix to launch first perps DEX on Ethereum mainnet

The post Synthetix to launch first perps DEX on Ethereum mainnet appeared on BitcoinEthereumNews.com. Synthetix is set to launch the first perpetual decentralized exchange on Ethereum mainnet in Q4 2025, kicking off with a $1 million trading competition. Summary Synthetix to launch first perpetual DEX on Ethereum mainnet in Q4 2025. Traders can use sUSDe, wstETH, and cbBTC as multi-collateral margin. Launch begins with a $1M trading competition starting in October. Synthetix is preparing to launch the first perpetuals exchange on Ethereum mainnet, starting with a trading competition that offers a $1 million prize. On Sept. 22, 2025, Synthetix Network (SNX) announced plans for its competition and upcoming perpertual DEX, which will feature gasless trading, zero settlement costs, and multi-collateral margin.  Traders will be able to use assets like Ethena’s sUSDe, Lido’s wstETH, and Coinbase’s cbBTC as margin to produce yield while trading. This model makes use of Ethereum’s (ETH) extensive liquidity, which presently totals more than $90 billion across its liquidity, staking, and lending pools. Multi-collateral margin and strategies The mainnet launch introduces multi-collateral margin, letting traders post portfolios of assets, including yield-bearing collateral, without selling them. This enables users to earn funding or staking yields, keep exposure to ETH or BTC, and avoid triggering taxable events when opening perp positions. Synthetix expects that this design will increase the efficiency and profitability of arbitrage strategies such as basis trading. For example, traders can deposit wstETH, short ETH perps in equal size, and benefit from staking rewards and positive funding payments. By enabling these setups directly on Ethereum, Synthetix removes the need for bridging and expands composability with decentralized finance protocols like Aave. Synthetix trading competition details Starting in October, Synthetix will hold a one-month trading competition prior to launch, with 100 traders chosen from among Kwenta point holders, top users, and pre-depositors. Using seeded margin capital, competitors will compete in well-known markets like…
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BitcoinEthereumNews2025/09/23 11:33
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