CleanSpark Taps Coinbase for $100M Bitcoin Loan

Funds earmarked to fuel strategic growth in energy resources and computational power.

This capital, obtained without diluting existing shares, will be strategically invested across CleanSpark’s asset base to boost value.

LAS VEGAS, Sept. 22, 2025 /PRNewswire/ — CleanSpark, Inc. (Nasdaq: CLSK), recognized as America’s Bitcoin Miner®, has announced an augmentation to its financial approach. The company has broadened its Bitcoin-collateralized credit line with Coinbase Prime (Nasdaq: COIN) by $100 million.

The $100 million in newly secured funds will be strategically allocated to crucial capital projects. This includes expanding CleanSpark’s energy infrastructure, scaling up its Bitcoin mining activities, and making investments in high-performance computing (HPC) infrastructure.

Matt Schultz, Chief Executive Officer and Chairman of CleanSpark, stated, “We are delighted to strengthen our partnership with Coinbase Prime as we continue to increase our power capacity and explore diverse applications for our data centers. We foresee a significant opportunity to accelerate our mining expansion while also optimizing our assets, especially those located near major urban centers and within our current project pipeline, by potentially creating high-performance computing campuses.”

Brett Tejpaul, Head of Coinbase Institutional, commented, “We view CleanSpark’s forward-thinking strategy for growing its capital base as a pivotal advancement for the crypto ecosystem, facilitated by focused deployment of capital. Coinbase Prime delivers dependable, secure, and regulated infrastructure, alongside superior custody solutions, supporting institutions as they expand their strategies around digital assets.”

Gary A. Vecchiarelli, CleanSpark’s Chief Financial Officer and President, explained, “A fundamental element of CleanSpark’s capital strategy is achieving value-added growth through non-dilutive financing. We are pleased to grow our strategic relationship with Coinbase as our business progresses. Our Digital Asset Management team will remain dedicated to driving growth and efficiency. Our proven ‘Infrastructure First’ approach will further increase value for our shareholders as we move towards more varied computing prospects.”

About CleanSpark
CleanSpark (Nasdaq: CLSK), recognized as America’s Bitcoin Miner®, is a leading Bitcoin mining company renowned for its demonstrated success. The company owns and manages a network of data centers located across the United States, all powered by competitive global energy prices. By strategically aligning Bitcoin operations with cost-effective energy sources, operational excellence, and responsible capital allocation, CleanSpark enhances its operational efficiency to provide superior shareholder returns. The company’s capacity to optimally leverage reliable, low-cost electricity ensures its ongoing success in a constantly evolving marketplace. To learn more, please visit www.cleanspark.com.

Forward-Looking Statements
This press communication contains predictive statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking declarations encompass, but are not limited to, assertions regarding the Company’s expectations, beliefs, strategies, and intentions. Such statements can often be identified by the use of terms like “expects,” “plans,” “will,” “may,” “anticipates,” “intends,” “should,” “could,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential,” or “continue,” or their negative counterparts or similar expressions. These forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other significant factors that could cause actual outcomes, performance, or achievements to differ significantly from those expressed or implied. These include, but are not limited to: the accomplishments and output of the Company’s data center operations beyond Bitcoin, and its expansion into infrastructure sectors unrelated to Bitcoin; potential effects of leadership changes on interactions with vendors, regulators, workforce, and investors, plus the leadership team’s proficiency in implementing Company strategies, especially opportunities external to Bitcoin mining; achieving predicted growth hinged on construction completion, regulatory clearances, and consistent power availability; the success of the Company’s digital asset management and derivatives trading, which recently commenced; accomplishments in the Company’s digital currency mining activities; the unpredictable price swings of Bitcoin, along with the volatile nature of the developing industries where CleanSpark competes; increasing complexities in Bitcoin mining; Bitcoin halving implications; evolving government regulations; repercussions from shifting international and U.S. policies on trade and tariffs, including uncertainty about possible higher tariffs on miners purchased post-2024 and in the future; scheduled arrival of new miners; successful importation and activation of new miners and related gear; reliance on utility rate arrangements and state incentive schemes; reliance on independent power companies for growth objectives; the possibility of unrealized revenue growth predictions; and additional risks outlined in prior communications and filings with the Securities and Exchange Commission (SEC), including those in the “Risk Factors” section of those filings. The forward-looking statements herein reflect information available only as of the date of this communication. The Company undertakes no obligation to update or revise these statements to reflect new information, altered conditions, or future occurrences, except as compelled by applicable legal statutes.

Investor Relations Contact
Harry Sudock
702-989-7693
ir@cleanspark.com 

Media Contact
CleanSpark
Malory Van Guilder
651.335.0585
malory@skyya.com

Coinbase Contact
press@coinbase.com

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SOURCE CleanSpark, Inc.