CleanSpark priced a $2.276 billion senior secured notes offering due 2031 at 98.500% of principal, implying an initial discount of 1.5%.
The notes carry a 7.875% coupon and are expected to close on September 25, 2026. Proceeds are earmarked for three uses: finishing the Sandersville data center buildout, reimbursing CleanSpark for prior equity contributions tied to that project, and funding debt service reserves.
The financing is tied directly to the Sandersville facility. The notes will be backed by first-priority liens on substantially all assets of the issuer and guarantor, plus all equity interests in the issuer held by its parent. CleanSpark also said it will provide a completion guarantee, stepping in if note proceeds are not enough to finish the project.
CleanSpark said the company controls more than 1.8 gigawatts of power, land and data center assets across the U.S. The new debt marks a large-scale capital raise focused on completing one facility rather than expanding the company’s broader footprint. The market has reacted to these announcements by moving the company's shares 8.39% to a price of $14.47. For the full picture, make sure to review CLEANSPARK, INC.'s 8-K report.
