The post CleanSpark Repays Bitcoin-Backed Coinbase Debt, Stock Jumps 7.8% appeared on BitcoinEthereumNews.com.

Key Notes The miner eliminated all outstanding balances under facilities worth up to $300 million by November 2024. CleanSpark raised $1.15 billion through convertible notes to retire debt and fund AI data center expansion. Bitcoin hashprice near $35/PH/s/Day has squeezed mining margins to break-even levels for the company. Bitcoin miner CleanSpark [NC] has repaid its credit facility with Coinbase, acting decisively amid falling Bitcoin BTC $89 696 24h volatility: 2.4% Market cap: $1.79 T Vol. 24h: $64.68 B prices and declining hashprice levels. The move signals a shift toward greater financial caution amid market volatility that is pressuring mining profitability. CleanSpark disclosed in its annual report that it fully repaid the Bitcoin-backed revolving line of credit from Coinbase, as well as a separate facility with Two Prime, which was announced in September 2024. By November 2024, the company had eliminated outstanding balances under both credit lines, as reported on Nov. 26. Today $CLSK reported transformative full fiscal year 2025 financial results (ended 9/30/25), setting the stage for our AI expansion. *Revenue: $766.3 million (102% growth YoY)*Net Income: $364.5 million*Total Assets: $3.2 billion*Power Under Contract: 1.31 GW (as of 10/31/25)… pic.twitter.com/eWue73hg8Y — CleanSpark Inc. (@CleanSpark_Inc) November 25, 2025 The Coinbase facility, capped initially at $50 million and later expanded to $300 million, allowed CleanSpark to borrow using Bitcoin as collateral. Interest rates ranged from 8.25% to 9%, with substantial flexibility for Coinbase to manage the posted assets, as with most Bitcoin-backed loans. CleanSpark Raises $1.15 Billion and Pivots to AI Expansion Earlier this quarter, CleanSpark raised $1.15 billion through 0% convertible senior notes, generating over $1.1 billion in net proceeds. Part of this capital was used to retire Bitcoin-backed debt, and the remainder is allocated to expanding into AI data centers power, new infrastructure, and general corporate needs. After those repayments,…

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Filed under: News - @ November 26, 2025 6:28 pm