New Hampshire’s Governor and Executive Council is scheduled to consider a proposal on Wednesday, July 8, that would allow up to $100 million in taxable revenue bonds to finance Bitcoin acquisition by a CleanSpark-related borrower.
According to the council’s published agenda, the proposal will be heard by the state’s Business Finance Authority. It would fund the purchase of Bitcoin while covering bond issuance expenses.
If approved, the financing would represent another example of Bitcoin treasury strategies expanding beyond traditional equity and debt markets.
Agenda outlines $100M Bitcoin financing proposal
Agenda item six under the Business Finance Authority calls for a public hearing on a recommendation to issue not more than $100 million in taxable revenue bonds.
The agenda states that proceeds would be used by NH CleanSpark Borrower Trust 2026-1, a New Hampshire investment trust. The proceeds will finance the acquisition of Bitcoin and pay expenses associated with issuing the bonds.
The hearing is scheduled to begin at 10:00 a.m. under RSA 162-I as part of the Governor and Executive Council’s regular meeting.
Proposal follows earlier bond rating process
The proposal comes months after Moody’s assigned a provisional Ba2 rating to the planned taxable revenue bond issuance. It provided an early assessment of the financing structure before its appearance on the state’s public agenda.
Available information indicates the proposal is structured as a taxable revenue bond rather than a general obligation bond backed by the State of New Hampshire. Under that structure, repayment would be tied to the borrowing entity and the transaction, rather than to taxpayer funding.
The agenda, however, does not indicate whether the proposal will receive final approval at Wednesday’s meeting or whether additional steps in the issuance process would still be required.
Bitcoin treasury financing continues to evolve
The proposal reflects the increasingly diverse ways companies are financing Bitcoin acquisitions.
While firms such as Strategy have relied on equity offerings, convertible debt, and preferred securities to expand their Bitcoin holdings, the New Hampshire proposal points to another approach that incorporates the public bond market through a specialized financing structure.
If completed, the transaction would add to a growing list of capital market structures being used to support corporate Bitcoin treasury strategies as institutional adoption continues to evolve.
Final Summary
- New Hampshire’s Governor and Executive Council is scheduled to consider a proposal for up to $100 million in taxable revenue bonds to finance Bitcoin acquisition.
- The proposal highlights the growing use of specialized capital market structures to finance corporate Bitcoin treasury strategies. However, the agenda does not indicate whether final approval will be granted at the meeting.