Company: CLSKW
Filing Date: 2025-09-25
Form Type: 8-K
Source: 0001193125-25-216457
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Company: CLEANSPARK, INC.
Filing Date: 2025-09-25
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

Effective September 19, 2025, the Company entered into a Master Loan Agreement (the “ Two Prime Master Loan Agreement”) with Two Prime Lending Limited (“Two Prime”), as lender. The funds made available pursuant to the Two Prime Master Loan Agreement are expected to be used to support Bitcoin mining hashrate deployment, invest in high-performance computing (HPC) capabilities, and fund the Company’s evolving Digital Asset Management strategies.

General Nature of the Facility

The Two Prime Master Loan Agreement provides for a revolving credit facility of up to $100 million.

Interest Rate

Amounts borrowed under the Two Prime Master Loan Agreement will bear interest at a rate equal to the Term SOFR Rate (as defined in the Two Prime Master Loan Agreement) plus 3.55%.

Maturity

The facility will mature on September 14, 2026 (the “Maturity Date”). The Company may prepay any outstanding amounts borrowed, in whole or in part, without premium or penalty, at any time prior to the Maturity Date. Amounts prepaid may be reborrowed, in whole or in part, at any time prior to the Maturity Date.

Security for the Borrowings

The Company’s obligations under the Two Prime Master Loan Agreement are secured by the Company’s interest in digital assets, which may include Bitcoin or any digital currency that the Company and Two Prime agree upon (the “ Collateral”) and Two Prime’s recourse under the Two Prime Master Loan Agreement is limited to the Collateral.

Financial Covenants

The Company must satisfy ongoing collateral maintenance requirements. If the value of posted collateral falls below the specified margin threshold, the Company must promptly post additional collateral or repay a portion of the loan. Failure to maintain sufficient collateral can result in an event of default and remedies available to Two Prime, including the right to liquidate pledged collateral.

The Two Prime Master Loan Agreement contains representations and warranties and affirmative and negative covenants customary for financings of this type, as well as customary events of default.

The foregoing description of the Two Prime Master Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Two Prime Master Loan Agreement, filed as Exhibit 10.2 to this Current Report on Form 8-K.