CleanSpark Raises $2.276B for Data Center Expansion

CleanSpark, one of the largest publicly traded U.S. bitcoin miners, has priced a $2.276 billion offering of 7.875% senior secured notes due 2031.

The notes are being issued by CleanSpark's wholly owned subsidiary CSDC Finance I, LLC and sold at 98.500% of their principal amount in a private placement to qualified institutional buyers and non-U.S. investors.

The net proceeds will finance the remaining cost of building out its Sandersville Facility data center in Georgia, reimburse the company for prior equity contributions made toward the project, and fund debt service reserves.