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Two Prime Hits Record $827 Million in Q3 Bitcoin-Backed Loans
The lender topped $2.5 billion in total commitments since 2024 as institutional bitcoin adoption has accelerated
Updated Oct 9, 2025, 3:58 p.m. Published Oct 9, 2025, 11:00 a.m.
What to know:
- Two Prime has issued $827 million in bitcoin-backed loans and credit facilities in Q3 2025, reaching $2.55 billion in total since launch.
- Clients include major firms such as CleanSpark, Hut 8, Kindly MD (Nakamoto), Fold.
- Two Prime attributes its growth to competitive rates and catering to institutions seeking yield and risk management.
Two Prime Lending issued record-breaking bitcoin-backed loans of $827 million in Q3 2025, bringing its total committed loan volume to $2.55 billion since launching in March 2024, the firm said on Thursday.
The lending affiliate of investment adviser Two Prime has established itself as one of the largest bitcoin-backed lenders globally, serving institutions such as miners, hedge funds, trading firms, and digital asset treasuries. It received $20 million backing led by bitcoin miner MARA Holdings (MARA) earlier this year.
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Two Prime’s lending clients include publicly listed names like CleanSpark (CLSK), Hut 8 (HUT), Kindly MD (NAKA) and Fold (FLD). Two Prime attributes its growth to competitive rates and catering to institutions seeking yield and risk management.
CEO and Co-Founder Alexander S. Blume said the firm’s success reflects rising institutional adoption of bitcoin and the demand for sophisticated lending and derivatives solutions in Thursday's emailed announcement.
“As more institutions — including large corporate treasuries, miners, hedge funds, endowments, pensions funds, and sovereign wealth funds — purchase and hold bitcoin, Two Prime has developed sophisticated lending and derivatives strategies to generate risk-adjusted yield for these institutions."
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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