The Client

Block Mining, Inc. is a Bitcoin mining company that builds and operates data center infrastructure to support the Bitcoin network. In addition, the Company provides colocation services for third parties.

The Client’s Goal

Block Mining, Inc. aimed to refinance its current lender and obtain growth capital to support its expansion initiatives.

The Cascade Advantage

Cascade conducted thorough due diligence on Block Mining’s financial situation and the state of the crypto industry. After learning of the Company’s competitive advantages, Cascade prepared a comprehensive financing memorandum that positioned Block Mining as a leading player in the nascent industry. Cascade developed an exhaustive list of alternative lenders with potential interest in the deal, initiated contact with them, and distributed the marketing materials.

Cascade worked with lenders for several months as the industry gyrated through several market developments. As evidence of its persistence, Cascade continued to pursue all options and an alternative solution was ultimately originated through a unique financing vehicle. Cascade facilitated negotiations and the company executed a term sheet with the alternative financing source. The Cascade team provided support through closing.

 The Cascade Difference

Cascade’s distinctive approach to this deal is characterized by persistence. Despite the challenging crypto and financing environments during the deal process, Cascade found an excellent solution for the Company using a particular financing vehicle that is not well-known in the lending industry. Cascade’s tenacity in diving deep into its extensive network of financial contacts led to discovering an alternative solution that provided highly beneficial results for the client.

The Result

As a result of Cascade’s efforts, Block Mining, Inc. successfully secured new debt from a bank and a Commercial Property Assessed Clean Energy or C-PACE lender. The terms and pricing of the new facility were significantly more favorable than the client’s existing arrangement. The proceeds from the financing were utilized to repay the former lender and to provide substantial growth capital for Block Mining, Inc.’s expansion initiatives.

The team’s unwavering commitment highlights Cascade’s steadfast dedication to delivering optimal results for its clients.

Cascade Partners served as financial advisor to Block Mining Inc.