CleanSpark cleared its Coinbase credit line, with net profit margin nearing break-even.

According to a report by theminermag, CleanSpark cleared all outstanding balances with Coinbase and Two Prime in November. The company currently has approximately $400 million in undrawn borrowings within its committed credit lines. The report states that CleanSpark's repayment situation highlights how the recent decline in Bitcoin hashrate prices (currently hovering around $35/PH/s) has compressed profitability across the industry. Even with its low cash hashrate costs, the company's net profit margin is nearing break-even after the recent Bitcoin price correction.