Bitcoin Billionaires Get $100M Credit Line Without Selling a Single Coin! 💸

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In a stunning move that only makes sense if you’ve been drinking the Bitcoin Kool-Aid, CleanSpark has managed to secure a $100 million credit line from Coinbase Prime-backed by Bitcoin, of course. Who needs cash when you can just pawn off your digital gold?

CleanSpark, Inc., the company that somehow convinced the world it’s the “America’s Bitcoin Miner,” has been handed a $100 million credit facility by Coinbase Prime. It’s like getting a gold-plated credit card, but instead of a line of credit, you’re pawning off your Bitcoin. Classic.

This non-dilutionary funding is supposed to help them grow their energy portfolio, Bitcoin mining, and high-performance computing (HPCs). If only all funding came with the ease of just handing over your cryptocurrency. Then again, maybe not-Bitcoin is still just a digital ledger, right?

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CleanSpark is pledging part of its roughly 13,000 Bitcoin holdings to get this credit line. So, instead of selling shares or their Bitcoin, they just use the coins as collateral. It’s like using your kid’s college fund as a down payment on a yacht. Risky, but hey, it’s digital!

They intend the infusion to expand their mining business and support the search for alternative applications for data centers. Because nothing says “future-proof” like mining Bitcoin and then mining for other data problems. 🤷♂️

CleanSpark CEO Matt Schultz, a man who probably owns a Bitcoin-shaped coffee mug, highlighted the potential of this increased access to capital. He’s all in on expanding their mining business and hunting for megawatts and HPC campuses near urban centers. Because why have a normal office when you can have a data center?

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Brett Tejpaul from Coinbase Institutional praised CleanSpark’s “innovative” strategy. He called Coinbase Prime a secure and regulated infrastructure, which sounds fancy until you realize it’s just a glorified piggy bank with better marketing.

CleanSpark’s CFO, Gary A. Vecchiarelli, reiterated the company’s commitment to non-dilutive financing. He’s pushing the “Infrastructure First” approach, which is code for “we’re not just a Bitcoin miner anymore-we’re a tech company!” And by tech, they mean “we own servers and maybe a few GPUs.”

This strategy puts CleanSpark in a competitive position against companies in a rapidly developing market where Bitcoin miners are increasingly integrating AI and HPC job types in their data centers. Because why mine for Bitcoin when you can mine for data and pretend you’re in the AI business? 🤖

The new $100 million line from Coinbase Prime is just the latest move in CleanSpark’s journey toward diversified digital asset revenue. Because why just mine Bitcoin when you can also mine data and pretend you’re in the AI business? It’s the future, or at least it’s a really good press release.

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2025-09-24 09:43