Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Seeking Alpha 2022-04-26 13:31:18

CleanSpark receives $35M in financing from Trinity Capital

CleanSpark (NASDAQ:CLSK) announced that it has finalized $35M in non-dilutive financing from Trinity Capital, provider of venture debt financing. The three-year equipment financing agreement is backed by 3,336 new S19j Pro miners and carries an annual interest rate of 9.9%. Net proceeds to be used for growth capital expenditures. Currently, CleanSpark has a fleet of 23K+ latest-generation bitcoin mining machines in operation, with ~12K machines pending delivery and deployment in batches through October 2022. The financing is in order to strengthen the company's sustainable business strategy wherein it converts some of its bitcoin holdings to fund operations and expansion, with a goal of limiting shareholder dilution and stably maximizing returns for shareholders.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.