Shares of CleanSpark rose after the company said it has increased its Bitcoin-backed credit facility with Coinbase Prime by $100 million.

The stock edged up 5.2%, to $14.45, in late trading on Monday. Shares are up 49% this year through market close.

The Bitcoin mining company said Monday the additional financing will be deployed into strategic capital expenditures, including expanding its energy portfolio, scaling its Bitcoin mining operations and investing in high-performance computing capabilities.

Chief Executive Matt Schultz said the company sees opportunity to accelerate its mining growth while optimizing its assets, particularly those near major metropolitan areas.