{"id":3678,"date":"2022-04-26T18:09:14","date_gmt":"2022-04-26T18:09:14","guid":{"rendered":"https:\/\/fatburningcoffeetrick.com\/?p=3678"},"modified":"2022-04-26T18:09:15","modified_gmt":"2022-04-26T18:09:15","slug":"bitcoin-miner-cleanspark-secures-35-million-in-financing-from-trinity-capital","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3678","title":{"rendered":"Bitcoin Miner Cleanspark Secures $35 Million in Financing from Trinity Capital"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>On Tuesday, the bitcoin mining and energy technology firm Cleanspark announced that it has secured $35 million in non-dilutive financing from Trinity Capital. According to the company, Cleanspark aims to leverage the funds for growth capital expenditures.<\/strong><\/p>\n<h2>Cleanspark to Bolster Growth Expenditures With $35 Million in Financing From Trinity Capital<\/h2>\n<p>Cleanspark has revealed it has finalized a $35 million finance deal with the venture debt financing provider Trinity Capital in order to fuel the company\u2019s growth. The financing deal follows Cleanspark\u2019s 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.<\/p>\n<p>According to Cleanspark, the three-year financing deal with Trinity Capital is \u201cbacked by 3,336 new S19j Pro miners and carries an annual interest rate of 9.9%.\u201d \u201cAs we mentioned in our Q1 earnings call, debt capital is currently the lowest cost of capital available to the company,\u201d Gary Vecchiarelli, CFO of Cleanspark, said in a statement. The Cleanspark executive added:<\/p>\n<p>This non-dilutive facility is an example of us delivering on our capital strategy and the expectations we have previously communicated. We intend to continue our efforts of obtaining non-dilutive capital to finance our growth capex needs. It is worth noting that we have not drawn on our ATM since November.<\/p>\n<h2>Financing to Fuel Expansions and Operations While Maximizing Returns for Shareholders<\/h2>\n<p>Cleanspark considers itself a sustainability-focused bitcoin mining company and the \u201cfinancing is intended to strengthen Cleanspark\u2019s sustainable business.\u201d The firm will convert some bitcoin (BTC) holdings in order to fund expansions and operations \u201cwith a goal of limiting shareholder dilution and stably maximizing returns for shareholders.\u201d<\/p>\n<p>During the last year, Cleanspark has been acquiring miners and making a number of business moves including starting a 20 MW immersion cooling initiative last December. Ryan Little, the managing director of equipment financing at Trinity Capital, explained during the announcement that the company looks forward to working with Cleanspark.<\/p>\n<p>\u201cWe are excited to partner with the team at Cleanspark, which is on a mission to mine bitcoin responsibly, using a mix of sustainable energy including nuclear, hydroelectric, solar, and wind,\u201d Little remarked. \u201cCleanspark is an excellent addition to our portfolio and recently earned a spot among the top 50 fastest-growing companies on a Financial Times list. We look forward to being a part of their growth story.\u201d<\/p>\n<p>Tags in this story<\/p>\n<p>Bitcoin, Bitcoin (BTC), Bitcoin mining, bitcoin mining company, BTC, Cleanspark, Cleanspark bitcoin, Cleanspark Inc, Cleanspark Mining, Cleanspark\u2019s sustainable business, Gary Vecchiarelli, Georgia, immersion cooling, mining, mining bitcoin, Ryan Little, Trinity Capital<\/p>\n<p><em><strong>What do you think about Cleanspark acquiring $35 million in financing from Trinity Capital? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n<p>Jamie Redman <\/p>\n<p class=\"article__body__author__info__about\">\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.<\/p>\n<p><i class=\"td-icon-font td-icon-twitter\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/bitcoin-miner-cleanspark-secures-35-million-in-financing-from-trinity-capital\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday, the bitcoin mining and energy technology firm Cleanspark announced that it has secured $35 million in non-dilutive financing from Trinity Capital. According to the company, Cleanspark aims to leverage the funds for growth capital expenditures. Cleanspark to Bolster Growth Expenditures With $35 Million in Financing From Trinity Capital Cleanspark has revealed it has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-3678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3678"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3678\/revisions"}],"predecessor-version":[{"id":3680,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3678\/revisions\/3680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3679"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}