Two Prime Lending Limited, the secured lending affiliate of Two Prime Inc., reported issuing $827 million in bitcoin-backed loans and credit facilities during Q3 2025, bringing its cumulative issuance to over $2.55 billion since the launch of its lending service line in March 2024.
Two Prime provides institutional clients and professional investors with exposure to bitcoin, utilizing bespoke lending products and derivatives strategies. Its clientele includes bitcoin miners, foundations, trading firms, hedge funds, personal finance platforms, corporate treasuries, family offices, and asset managers.
The firm closed loans and credit facilities with several clients in Q3 2025, including CleanSpark (NASDAQ: CLSK), Hut 8 (NASDAQ, TSX: HUT), Kindly MD, Inc. (dba Nakamoto) (NASDAQ: NAKA), Fold (NASDAQ CM: FLD), and Flowdesk.
Alexander S. Blume, CEO and Co-Founder of Two Prime, stated, “As more institutions – including large corporate treasuries, miners, hedge funds, endowments, pension funds, and sovereign wealth funds – purchase and hold bitcoin, Two Prime has developed sophisticated lending and derivatives strategies to generate risk-adjusted yield. We’re proud of our industry-leading role, which reflects our commitment to meeting clients where they are and crafting strategies that meet their individual business needs at any given time.”
As regulatory clarity and institutional acceptance of digital assets grow, the demand for specialized services to generate yield and manage risk is increasing. Two Prime states its competitive rates, flexibility, and customer service have contributed to its position as one of the largest bitcoin-backed lenders globally. The firm observes sustained interest in BTC-secured loans and associated structured products as the bitcoin industry matures and competition for alpha intensifies.
Two Prime offers a range of lending arrangements tailored to clients’ corporate structures, business strategies, and risk appetites. These include tri-party custody with multiple qualified custodians, structured products, and alternative structures such as original issue discounts. Two Prime Lending Limited manages over $3 billion in lending capacity, providing non-rehypothecated loans backed by collateral held in segregated, secured custody, a model designed to protect client assets.
Two Prime Inc., the parent company, operates as an SEC-Registered Investment Advisor, offering institutional investors transparent exposure to bitcoin through customized derivatives strategies.
