CleanSpark Opens $100M Bitcoin-Backed Credit Line

Bitcoin miner CleanSpark secures a second $100M credit line with Two Prime, backed by BTC reserves. Its total borrowing capacity now stands at $400M.

$100M facility adds to financial flexibility

Bitcoin mining firm CleanSpark announced Thursday it has secured a new $100 million credit line with institutional yield platform Two Prime. The facility is fully collateralized by the company’s Bitcoin treasury, which holds nearly 13,000 BTC.

This marks the second such arrangement in a week, bringing CleanSpark’s total Bitcoin-backed borrowing capacity to $400 million. Notably, the financing is non-dilutive — instead of issuing new shares, the company taps into its crypto reserves to raise capital, preserving shareholder value.

Expanding data centers and hashrate

The Two Prime deal follows another $100 million facility with Coinbase Prime, signed earlier in the week. While both agreements are separate, they provide CleanSpark with greater financial flexibility and rapid access to liquidity without excessive leverage.

The miner plans to deploy the funds into data center expansion, boosting Bitcoin hashrate capacity, and scaling its high-performance computing (HPC) infrastructure.

Bitcoin-backed financing trend

CleanSpark’s approach reflects a wider trend in the industry. Riot Platforms, for example, secured a $100 million credit facility from Coinbase Prime earlier this year, backed by 19,300 BTC.

As Bitcoin gains value, collateralized lending is becoming an attractive option for miners. Rather than selling BTC reserves to fund operations, companies increasingly borrow against their holdings, preserving upside exposure while unlocking liquidity. For many, this is more efficient than traditional debt financing.