The funds will be utilized to “support Bitcoin mining hashrate deployment, invest in high-performance computing (HPC) capabilities, and fund the company’s evolving Digital Asset Management strategies,” CleanSpark said in a statement.
CleanSpark CEO Matt Schultz emphasized the strategic value of the financing: “We have a range of exciting opportunities to maximize current megawatts in our portfolio, accelerate potential development of high-performance compute campuses, and further invest in our digital asset management strategies. This financing supports CleanSpark’s continued evolution across all business segments.”
The use of Bitcoin as collateral allows the company to fund expansion without diluting shareholder equity. The U.S.-based miner reached 50 EH/s of operational hashrate in June and, as of the end of the second quarter, held a Bitcoin treasury valued at over $1 billion.
