Bloomberg: Coinbase is rapidly becoming the preferred lender for Bitcoin mining companies

ChainCatcher news, according to Bloomberg, the cryptocurrency exchange platform Coinbase Global Inc. is at the forefront of a resurgence in providing loans to crypto mining companies backed by Bitcoin.

Coinbase is quickly becoming one of the largest lenders to Bitcoin mining companies in the United States. The exchange platform is better known for its trading and custody services, but it has now extended hundreds of millions of dollars in credit to companies such as Riot Platforms, CleanSpark, and most recently, Hut 8, filling the void left after the collapse of most crypto lenders in 2022.