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.
