PANews reported on April 16 that according to Cointelegraph, CleanSpark, a US Bitcoin mining company, said that in order to achieve financial self-sufficiency, the company will start selling a portion of the Bitcoin obtained from its mining business every month. In addition, according to a statement, CleanSpark has obtained a $200 million credit line backed by Bitcoin through an agreement with Coinbase Prime, the institutional brokerage division of the crypto exchange Coinbase.
CleanSpark CEO Zach Bradford said the bitcoin sales and the line of credit together meant CleanSpark had "achieved escape velocity - the ability to fund its operations with its own capital, grow its bitcoin reserves, and contribute to expansion capital through operating cash flow." The company added that CleanSpark has opened an institutional bitcoin trading desk to facilitate sales of the cryptocurrency.
