The three-year financing agreement has been secured by 3,336 new S19j Pro Bitcoin mining rigs, according to a Securities and Exchange Commission filing submitted Friday.
CleanSpark isn’t alone in using crypto assets—in this case, mining hardware—to secure loans rather than relinquishing shares of the company.
News of CleanSpark’s financing comes just a month after the company announced it would add 500 megawatts of mining power to its facility in Fort Stockton, Texas.