We intend to continue our efforts of obtaining non-dilutive capital to finance our growth capex needs. This non-dilutive facility is an example of us delivering on our capital strategy and the expectations we have previously communicated.
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The financing deal follows Cleanspark’s recent Texas expansion in March, as the company announced plans to expand operations in the Lone Star state with 500 megawatts (MW) of renewable power.Īccording to Cleanspark, the three-year financing deal with Trinity Capital is “backed by 3,336 new S19j Pro miners and carries an annual interest rate of 9.9%.” “As we mentioned in our Q1 earnings call, debt capital is currently the lowest cost of capital available to the company,” Gary Vecchiarelli, CFO of Cleanspark, said in a statement. Cleanspark to Bolster Growth Expenditures With $35 Million in Financing From Trinity CapitalĬleanspark has revealed it has finalized a $35 million finance deal with the venture debt financing provider Trinity Capital in order to fuel the company’s growth. According to the company, Cleanspark aims to leverage the funds for growth capital expenditures. On Tuesday, the bitcoin mining and energy technology firm Cleanspark announced that it has secured $35 million in non-dilutive financing from Trinity Capital.
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