{"id":60653,"date":"2022-04-26T17:55:59","date_gmt":"2022-04-26T14:55:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60653"},"modified":"2025-09-05T04:34:38","modified_gmt":"2025-09-05T01:34:38","slug":"cleanspark-secures-35-million-loan-to-buy-new-equipment","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cleanspark-secures-35-million-loan-to-buy-new-equipment\/","title":{"rendered":"CleanSpark Secures $35 Million Loan to Buy New Equipment"},"content":{"rendered":"<p>The American mining company CleanSpark secured debt financing of $35 million backed by 3,336 new Antminer S19j Pro devices.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Sustainable <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> miner <a href=\"https:\/\/twitter.com\/CleanSpark_Inc?ref_src=twsrc%5Etfw\">@CleanSpark_Inc<\/a> has raised $35 million in debt financing from Trinity Capital backed by 3,336 new S19j Pro miners. <a href=\"https:\/\/twitter.com\/search?q=%24CLSK&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CLSK<\/a> <a href=\"https:\/\/twitter.com\/Aoyon_A?ref_src=twsrc%5Etfw\">@Aoyon_A<\/a> reports<a href=\"https:\/\/t.co\/EHjYXWU7N9\">https:\/\/t.co\/EHjYXWU7N9<\/a><\/p>\n<p>\u2014 CoinDesk (@CoinDesk) <a href=\"https:\/\/twitter.com\/CoinDesk\/status\/1518938718446534656?ref_src=twsrc%5Etfw\">April 26, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A three-year loan for the equipment purchase at an annual interest rate of 9.9% was provided by Trinity Capital.<\/p>\n<p>Debt capital is currently the cheapest source of funding for CleanSpark, according to Chief Financial Officer Gary Vecchiarelli.<\/p>\n<p>Another option for financing capital expenditures within the company is the sale of a portion of <a href=\"https:\/\/forklog.com\/en\/news\/us-listed-mining-companies-hold-1-1-billion-in-bitcoin-on-their-balance-sheets\">the bitcoins it owns<\/a>.<\/p>\n<p>This approach <a href=\"https:\/\/forklog.com\/en\/news\/cleanspark-used-mined-bitcoin-to-buy-4500-antminer-s19-miners\">was used to purchase 4500 Antminer S19<\/a> in October 2021.<\/p>\n<p>In December 2020, the Nasdaq-listed company <a href=\"https:\/\/forklog.com\/en\/news\/us-software-maker-cleanspark-to-spend-nearly-20m-on-acquisition-of-atl-data-centers\">acquired the American mining firm<\/a> ATL Data Centers for $19.4 million. The deal immediately elevated CleanSpark into one of the largest public companies in the industry.<\/p>\n<p>According to the statement, the company&#8217;s fleet comprises 20,000 &#8216;latest-generation&#8217; devices. In addition, a further approximately 12,000 units are expected to be delivered.<\/p>\n<p>As Arcane Research notes, public mining companies <a href=\"https:\/\/forklog.com\/en\/news\/publicly-listed-mining-companies-account-for-19-of-bitcoins-total-hash-rate\">account for 19% of the total Bitcoin hashrate<\/a>.<\/p>\n<p>In their view, Bitcoin mining remains profitable, but <a href=\"https:\/\/forklog.com\/en\/news\/experts-forecast-a-decline-in-mining-profitability\">profitability is under pressure<\/a> from the decline in the asset&#8217;s price and the growth of the network&#8217;s hashrate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American mining company CleanSpark secured debt financing of $35 million backed by 3,336 new Antminer S19j Pro devices.<\/p>\n","protected":false},"author":1,"featured_media":60654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1180,1137,1097],"class_list":["post-60653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cleanspark","tag-cryptocurrency-mining","tag-lending"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=60653"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60653\/revisions"}],"predecessor-version":[{"id":60655,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60653\/revisions\/60655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/60654"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=60653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=60653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=60653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}