CleanSpark Shakes Up Bitcoin Strategy: Sells BTC to Fund Growth!

Hang onto your hats, crypto fans! CleanSpark just dropped a bombshell: they're gonna start selling off some of their freshly mined Bitcoin to keep the lights on and fuel their expansion dreams. And guess what? They're teaming up even tighter with Coinbase Prime to make it happen.

This Bitcoin miner's not playing it safe anymore. They've snagged a whopping $200 million Bitcoin-backed credit line from Coinbase Prime, ditching their old-school 100% HODL game plan. Yep, you heard that right—they're shaking things up big time.

News broke Tuesday, and CleanSpark's ready to cash in on part of their monthly Bitcoin haul to keep the cash flowing and the growth going. They're taking a bold step, choosing to fund themselves rather than diluting their equity or piling on more debt.

“With our Bitcoin stash now over 12,000, worth a cool billion bucks, it's time to turn some of our new digs into cash,” declared CEO Zach Bradford. “We're playing it smart, not just sticking to old beliefs.”

CleanSpark's BTC Treasury Desk: Game Changer!

But wait, there's more! CleanSpark's rolling out an institutional-grade Bitcoin treasury desk after grilling every angle from borrowing to derivatives. They're set to supercharge their Bitcoin game and manage risks like pros.

Coinbase Prime's stepping up too, boosting that credit line to $200 million, all backed by Bitcoin, as part of their big-shot lending services.

“We're all in on helping CleanSpark crush it,” said Brett Tejpaul, the big cheese at Coinbase Institutional.

Right now, CleanSpark's mining at a mind-blowing 40.2 exahash per second (EH/s), but they've got their sights set on hitting 50 EH/s. Buckle up, folks!

They're not stopping there. CleanSpark's all about mixing up their funding sources, with debt financing looking like the slickest way to grow in this wild market.

This move's a sign that U.S. Bitcoin miners are leveling up their money games, moving away from leaning too hard on equity financing. It's a new era, and CleanSpark's leading the charge!