CleanSpark Closes $2.276 Billion Debt Offering for Data-Center Expansion
The Bitcoin miner’s subsidiary issued 7.875% senior secured notes due 2031 to fund its Sandersville Facility, reimburse equity contributions and build debt-service reserves.
CleanSpark closed a $2.276 billion private debt offering on Sept. 25, providing funding for a data-center expansion and related financing needs.
The Bitcoin miner’s wholly owned subsidiary, CSDC Finance I, LLC, issued 7.875% senior secured notes due 2031. The notes were priced at 98.500% of principal on Sept. 18.
The issuer intends to use the proceeds to complete the Sandersville Facility in Georgia, reimburse certain prior equity contributions and fund debt-service reserves. The issuer’s stated uses do not include refinancing existing credit facilities.
The notes were sold privately to qualified institutional buyers under Rule 144A and to certain non-U.S. investors under Regulation S. They are secured by first-priority liens on substantially all assets of the issuer and its guarantor, subject to exclusions.
The closing completes a financing that had previously been announced as a proposed debt offering. CleanSpark has separately disclosed a lease supporting 175 megawatts of critical IT load at its Georgia campus.
