CleanSpark Prices $2.276 Billion 7.875% Senior Secured Notes Due 2031

CleanSpark, Inc. (Nasdaq: CLSK), one of the largest publicly traded bitcoin miners in the U.S., has priced a $2.276 billion offering of 7.875% senior secured notes due 2031, according to a press release filed with the U.S. Securities and Exchange Commission. The pricing date was September 18, 2026. The notes will be issued by its wholly owned subsidiary, CSDC Finance I, LLC, and sold at 98.500% of principal in a private placement to qualified institutional buyers and non-U.S. investors. The company expects the transaction to close on September 25, 2026. CleanSpark said the net proceeds will be used to cover the remaining build-out costs of its Sandersville Facility data center in Georgia, reimburse the company for prior equity contributions to the project, and fund debt service reserves. The offering is being conducted under Rule 144A and Regulation S, meaning the notes are not registered with U.S. securities regulators and are not available to retail investors. CleanSpark said the offering remains subject to market and other conditions and there is no assurance it will close on the current terms. The notes will be fully and unconditionally guaranteed by another CleanSpark subsidiary, CSRE Properties Sandersville, LLC. They will be secured by first-priority liens on substantially all assets of the issuer and CSRE Properties, as well as the equity interests in the issuer held by its direct parent, CSDC Holdings I, LLC. CleanSpark also agreed to a completion guarantee, committing to fund the issuer if note proceeds are insufficient to complete the facility on schedule. The financing underscores CleanSpark's effort to broaden beyond pure bitcoin mining. The company says it is a market-leading data center developer controlling more than 1.8 gigawatts of power, land, and data centers across the U.S., positioning itself at the intersection of bitcoin, energy, operational execution, and capital stewardship. The strategy aims to monetize low-cost, high-reliability energy through compute as demand for AI and high-performance computing reshapes the mining sector. Similar moves have emerged among peers, including Bitdeer, which rallied on a $4.7 billion AI data center deal, and Hyperscale Data, which stopped bitcoin mining in Michigan to meet commitments under an AI data center agreement.