CleanSpark Secures $2.276 Billion for Data Center Expansion

CleanSpark, one of the largest publicly traded U.S. bitcoin miners, has priced $2.276 billion in senior secured notes at 98.500% of their principal amount.

The notes are due in 2031 and will be issued by CleanSpark's subsidiary CSDC Finance I, LLC to qualified institutional buyers and non-U.S. investors.

The funding from the offering 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.

CleanSpark's push beyond pure bitcoin mining reflects its broader strategy to monetize low-cost, high-reliability energy by producing compute. The company controls over 1.8 gigawatts of power, land, and data centers across the United States.