CleanSpark, a US Bitcoin mining company, announced plans to sell a portion of the Bitcoin it mines each month to achieve financial self-sufficiency.
Additionally, CleanSpark has secured a $200 million credit line backed by Bitcoin through an agreement with Coinbase Prime, the institutional brokerage arm of Coinbase.
CEO Zach Bradford stated that the combination of Bitcoin sales and the credit line enables CleanSpark to “achieve escape velocity,” allowing the company to self-fund operations, increase Bitcoin reserves, and support expansion through operational cash flow.
CleanSpark has also established an institutional Bitcoin trading desk to facilitate these cryptocurrency sales.
