Bitcoin Miner CleanSpark Announces $100M Bitcoin-Backed Credit Facility with Two Prime

Core Insights - CleanSpark, Inc. has established a new $100 million Bitcoin-backed credit facility with Two Prime, increasing its total collateralized lending capacity to $400 million, which is a significant step in its capital growth strategy [1][4] - The company plans to use the credit to accelerate data center expansion, enhance high-performance computing initiatives, and optimize its Bitcoin treasury, which currently holds over 12,000 BTC [2][3] - The trend of leveraging digital assets for financing is gaining traction among major miners, with CleanSpark's recent credit facilities reflecting a shift towards using Bitcoin as collateral instead of relying on equity offerings [4][5] Financial Performance - CleanSpark's stock showed minimal response to the funding news, trading at $13.68 as of September 25, down from $14.85 earlier in the week, despite a surge in trading volume [6] - The stock has increased by over 52% in the past month, indicating investor optimism regarding the company's growth without shareholder dilution, with a market cap near $3.9 billion [7]