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 BTC$123,262.61 miner MARA Holdings (MARA) earlier this year.