CleanSpark Enters Into A Partnership With Coinbase Where It Has Acquired A $50M Revolving Line Of Credit Collateralized By A Portion Its Bitcoin Holdings 'To Help Take Advantage Of Opportunities In The Marketplace At A Low Cost Of Capital'
CleanSpark Enters Into A Partnership With Coinbase Where It Has Acquired A $50M Revolving Line Of Credit Collateralized By A Portion Its Bitcoin Holdings 'To Help Take Advantage Of Opportunities In The Marketplace At A Low Cost Of Capital'
"CleanSpark weathered the challenges of the bitcoin halving with one of the most efficient mining portfolios as evidenced by our strong gross margins," said Gary A. Vecchiarelli, CFO. "During the third quarter, we saw block rewards get cut by 50%, yet we managed to recognize only 7% less revenue by mining 1,583 bitcoin in the period. Additionally, we recognized a net loss primarily due to two non-cash factors: an unfavorable mark-to-market on the fair value of our large bitcoin holdings and an impairment on older, less-efficient miners. The non-cash impairment was directly attributable to a conscious strategic decision to upgrade and maintain one of the world's largest and most efficient state-of-the-art mining fleets. We continue to have one of the strongest balance sheets in the industry and as a result I am happy to announce that we have also entered into a partnership with Coinbase where we have acquired a $50 million revolving line of credit collateralized by a portion of our bitcoin holdings. This line of credit will help us continue to take advantage of opportunities in the marketplace at a low cost of capital."
"CleanSpark凭借其高效的采矿投资组合在比特币减半挑战中应对自如，这也表现在我们较强的毛利水平上。"首席财务官Gary A.Vecchiarelli表示。“在第三季度，我们看到区块奖励减少了50%，但我们通过采矿在该季度挖到了1583个比特币，仅减少了7%的营业收入。此外，我们在大量比特币持仓的公允价值中做出不利表现以及对旧式、效率较低的矿工的减值造成了净亏损。这种非现金的减值直接归因于一项有意的战略决策，即升级和维护世界上最大、最高效的现代化采矿机群之一。我们持续拥有行业板块中最强大的资产负债表，因此我很高兴宣布，我们还与Coinbase达成了合作伙伴关系，我们已经通过部分比特币持有获得了5000万美元的循环信贷。这条信贷线将帮助我们继续以低成本资本利用市场机会。"