CleanSpark Prices $2.276 Billion in Senior Secured Notes

Data center developer CleanSpark, Inc. announced on Monday that its wholly owned subsidiary, CSDC Finance I, LLC, has priced an offering of $2.276 billion in senior secured notes. The notes carry an annual interest rate of 7.875%.

The offering is expected to close on September 22, 2026, subject to customary closing conditions. The company intends to use the proceeds from the notes primarily to repay existing debt, fund expansion, and for general corporate purposes.

CleanSpark focuses on developing data centers and bitcoin mining operations. The company stated that the notes will support its growth strategy, which includes developing new data center facilities and increasing capacity at its existing sites.

The company's stock has seen significant increases over the year, partly driven by rising bitcoin prices and its expansion of data center capacity. This debt offering is anticipated to bolster its ability to continue its expansion in a competitive industry.