CleanSpark closes Coinbase line of credit, net profit margin nears break-even point
2025-11-26 15:21:49
All of CleanSpark's outstanding balances at Coinbase and Two Prime were settled in November, and the company still has about $400 million of its committed credit lines outstanding. CleanSpark's repayment highlights how the recent decline in bitcoin hashrate prices, which are currently hovering around $35/PH/s, has squeezed the profitability of the entire industry. Even with the company's low cash hashrate costs, its net profit margin is close to break-even after the recent correction in bitcoin prices.
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