CleanSpark priced $2.276 billion of 7.875% senior secured notes due 2031 at 98.500% of principal, setting up a financing package aimed at the company’s Sandersville data center buildout.
The notes are expected to close on Sept. 25, 2026. CleanSpark said the proceeds will be used to cover the remaining construction cost of the Sandersville facility, reimburse the company for prior equity contributions tied to that project, and fund debt service reserves.
The debt is being issued by CleanSpark’s wholly owned subsidiary, CSDC Finance I, LLC, and will be guaranteed by CSRE Properties Sandersville, LLC. The notes and guarantee will be secured by first-priority liens on substantially all assets of the issuer and CSRE Properties, as well as all equity interests in the issuer held by its direct parent.
CleanSpark said it will also provide a completion guarantee for the Sandersville facility, committing to fund the issuer as needed if note proceeds are not enough to finish the project on time.
The company said the offering follows a private placement structure and is subject to customary closing conditions. CleanSpark described its portfolio as more than 1.8 GW of power, land and data centers across the U.S. As a result of these announcements, the company's shares have moved 8.39% on the market, and are now trading at a price of $14.47. If you want to know more, read the company's complete 8-K report here.
