US crypto mining company CleanSpark has raised $35 million in debt financing to purchase 3,336 new Antminer S19j Pro devices.
Trinity Capital has reportedly provided a three-year loan for the purchase of equipment with an annual interest rate of 9.9%.
The company CFO Gary Vecchiarelli has said that at this time, debt capital is the most affordable for CleanSpark.
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The other option available to the company to fund capital expenditures is to consider selling part of the Bitcoins it owns.
CleanSpark used this mechanism when it purchased 4,500 Antminers S19 back in October last year.
In December 2020, the Nasdaq-listed company acquired US mining company ATL Data Centers for $19.4 million. The deal made CleanSpark one of the largest public companies in the cryptocurrency mining sector.