US mining company CleanSpark has secured $35 million in debt financing to secure 3,336 new Antminer S19j Pro devices.

sustainable #bitcoins miner @CleanSpark_Inc It raised $35 million in debt financing from Trinity Capital, backed by 3,336 new S19j Pro miners. $CLSK @Aoyon_A reportshttps://t.co/EHjYXWU7N9

— CoinDesk (@CoinDesk) April 26, 2022

A three-year loan was provided by Trinity Capital for the purchase of equipment at an annual interest rate of 9.9%.

CFO Gary Vecchiarelli said debt capital is currently the most affordable for CleanSpark.

Another option for financing capital expenditures in the company is to consider selling some of the bitcoins it owns.

CleanSpark used this approach when purchasing the 4500 Antminer S19 in October 2021.

In December 2020, the Nasdaq-listed company acquired US mining firm ATL Data Centers for $19.4 million. The deal immediately placed CleanSpark among the largest publicly traded companies in the industry.

According to the statement, the company has 20,000 “last generation” devices in its fleet. In addition, approximately 12,000 additional equipment is expected to be delivered.

Recall that according to analysts at Arcane Research, publicly traded mining companies account for 19% of the total bitcoin hashrate.

According to them, mining of the first cryptocurrency is still a profitable activity, but profitability is under pressure due to the decline in the price of the asset and the growth of the computing power of the network.