CleanSpark Receives $100 Million in Funding from Coinbase Prime Using Bitcoin Collateral

In a major development for the cryptocurrency mining sector, CleanSpark has announced an impressive expansion of its Bitcoin-backed credit line to the tune of $100 million. This strategic move, made possible through a partnership with Coinbase Prime, is set to bolster the company’s position within the industry significantly. The newly acquired funds are earmarked for strategic capital expenditures such as expanding energy infrastructure and scaling up their mining capabilities.

Strategic Growth and Infrastructure Expansion

CleanSpark’s CEO and Chairman Matt Schultz highlighted their pride in deepening ties with Coinbase Prime. This expansion is part of a broader strategy to enhance their portfolio by adding megawatts and exploring alternative uses for data centers. By focusing on high-performance computing (HPC) campuses near major metropolitan areas, CleanSpark sees enormous potential to accelerate growth and optimize assets.
Coinbase Prime praised CleanSpark’s innovative approach to capital strategy. Brett Tejpaul, head of Coinbase Institutional, emphasized that this step marks an essential phase in developing the crypto ecosystem through targeted capital allocation.

A Proven Strategy: Infrastructure First

Gary A. Vecchiarelli, CleanSpark’s CFO and President, underscored that their “Infrastructure First” strategy continues to demonstrate historical efficacy in enhancing shareholder value as they expand into more diversified computing opportunities.
Earlier this year, CleanSpark reported substantial growth in its Bitcoin reserves—an increase of 236% compared to the previous year. In January 2025 alone, their reserves rose to 10,097 BTC. By February, they had added another 624 BTC to reach a total of 11,177 BTC while achieving a hash rate operation of 40.7 EH/s.

Positioning Among Global Miners

According to Bitcoin Treasuries data at the time of writing this article [source](https://bitcointreasuries.net), CleanSpark holds tenth place among all companies globally regarding Bitcoin ownership and ranks third among primary cryptocurrency miners after MARA (previously Marathon Digital) and Riot Platforms.
Remarkably, despite these impressive numbers from CleanSpark, Strategy (formerly MicroStrategy) maintains its position as the largest public holder with an astounding portfolio totaling 639,835 BTC.
The latest developments underscore not only how rapidly CleanSpark is growing but also how pivotal such expansions are amid an ever-evolving landscape where innovation drives success within cryptocurrency sectors globally today!