CleanSpark, a US Bitcoin mining company, announced that it has secured an additional $100 million in credit through an expanded Bitcoin-collateralized loan arrangement with Coinbase Prime. The company stated that the funds will be used to expand its energy infrastructure, scale its Bitcoin mining operations, and develop high-performance computing capabilities at some of its facilities.

CleanSpark CFO and President Gary Vecchiarelli stated that leveraging non-dilutive financing to achieve growth is core to the company’s capital strategy. CEO Matt Schultz added that the company will use the capital to accelerate the growth of its mining business and optimize some of its data center assets.

CleanSpark operates multiple data centers across the United States, with a presence in markets with competitive electricity prices. As of June, its operational computing power reached 50 exahashes per second (EH/s), and its Bitcoin reserves had a market capitalization exceeding $1 billion. The company's stock price closed up 0.88% at $13.74 on Monday, and rose a further 5% in after-hours trading. (TheBlock)