ASICs for a loan – Since the 2nd half of 2021, the rest of the world benefits from the error of the China, which has banned cryptocurrency mining from its soil. Many crypto mining farmsrespectful of the environment, were thus built in the United States particularly. One of them will be financed thanks to the company’s mining machines CleanSparkwhich will serve as collateral for a loan.
The race for bitcoin mining is raging in the United States
The miners of Bitcoin (BTC) and other cryptos based on the proof of work (PoW) have been having a field day since the Chinese competition was forced to stop dead. Since the summer of 2021, the United States has thus replaced china as a supplying country the most computing power (hashrate) to the bitcoin network.
As CoinDesk reports in particular, this trend is not about to reverse. Indeed, American miners are even ready to go into debt to continue to develop their crypto-mining activities.
This is the case of the company CleanSpark (CLSK), based in Nevada and specialized in mining installations using sustainable energy sources. CleanSpark has just announced that it has raised $35 millionby pledging its 3,336 ASIC miners S19j Pro brand new.
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This $35 million crypto-asset mining financier loan was made to Trinity Capital, specializing in the financing of venture capital (VC) companies. It has a term of three years, with an annual interest rate of 9.9%.
“We are thrilled to partner with the team at CleanSpark, who are on a mission to mine bitcoin in an eco-responsible way, using a mix of sustainable energies including nuclear, hydroelectric, solar and wind power. (…)”
Ryan Little, managing director of equipment finance at Trinity Capital
On the CleanSpark side, it is clearly announced that this financial windfall will be used to develop mining facilities of BTC, whether new or existing, and always with a concern for the respect of the environment.
CleanSpark is not the first or only bitcoin miner to get creative with finding sources of funding, however. Indeed, in Australia, the crypto-mining company Iris Energy, obtained a loan of 71 million dollars in April. And, there too, thousands of BTC mining machines had been guaranteesto obtain this loan from the group NYDIG.
If Bitcoin mining companies get substantial loans, the industry is solid as a whole! To not miss the opportunity of a lifetime, register without delay on the FTX benchmark crypto exchange platform and benefit from a lifetime discount on your trading fees (affiliate link, see conditions on official website).