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憑藉其高效的採礦投資組合在比特幣減半挑戰中應對自如，這也表現在我們較強的毛利水平上。"首席財務官Gary A.Vecchiarelli表示。“在第三季度，我們看到區塊獎勵減少了50%，但我們通過採礦在該季度挖到了1583個比特幣，僅減少了7%的營業收入。此外，我們在大量比特幣持倉的公允價值中做出不利表現以及對舊式、效率較低的礦工的減值造成了淨虧損。這種非現金的減值直接歸因於一項有意的戰略決策，即升級和維護世界上最大、最高效的現代化採礦機群之一。我們持續擁有行業板塊中最強大的資產負債表，因此我很高興宣佈，我們還與Coinbase達成了合作伙伴關係，我們已經通過部分比特幣持有獲得了5000萬美元的循環信貸。這條信貸線將幫助我們繼續以低成本資本利用市場機會。"
