CleanSpark Closes $2.276B Notes Sale for Georgia Data Center

CleanSpark closed a $2.276 billion sale of senior secured notes on Sept. 25 to pay for its data center campus in Sandersville, Georgia. The notes carry yearly interest of 7.875 percent and come due in 2031, the company announced.

The notes were sold by CSDC Finance I, a company wholly owned by CleanSpark. They were priced at 98.5 percent of principal on Sept. 18, a week before the closing, TokenPost reported.

The money goes to the build. Proceeds will complete the Sandersville facility, reimburse CleanSpark for equity it already put in, and fund reserves set aside for debt payments. The stated uses do not include refinancing existing credit lines.

The sale was private. The notes went to qualified institutional buyers under Rule 144A and to certain non-U.S. investors under Regulation S, and they are secured by first-priority liens on substantially all assets of the issuer and its guarantor, subject to exclusions. They were not registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption, the release says.

The closing completes an offering that started as a proposal the prior week. CleanSpark had announced the planned sale, priced it Sept. 18, and closed Sept. 25, moving from marketing to funded construction in about a week.

The Sandersville campus carries a lease supporting 175 megawatts of critical IT load. Rent under long-term arrangements of that kind is what will service the debt once the halls are energized, a structure the company laid out when it first described the financing vehicle.

CleanSpark describes itself as a market-leading data center developer with more than 1.8 gigawatts of power, land and data centers across the United States, supplied by competitively priced energy. The company sits at the intersection of Bitcoin mining, energy and compute infrastructure, and it now monetizes low-cost power by producing compute alongside coins.

The release carries the standard warnings. Its forward-looking statements cover the terms of the notes, the timing and size of the offering and the intended use of proceeds, and the company notes that actual results can differ. It points readers to the risk factors in its annual report for the fiscal year ended Sept. 30, 2025, its quarterly reports through June 30, 2026, and later SEC filings.

The 98.5 price puts the notes just below face value. The buyers were institutions: qualified buyers inside the United States under Rule 144A and certain investors outside the country under Regulation S. CleanSpark trades on Nasdaq under the ticker CLSK, and the announcement came from Las Vegas, the release shows.

The company describes its edge as cheap, reliable power. It controls more than 1.8 gigawatts of power, land and data centers across the United States, and it says globally competitive energy prices feed both its Bitcoin mining and its newer compute business. The release frames that mix as monetizing low-cost, high-reliability energy by producing compute, a global resource still in high demand.

The warnings in the release run long. Its forward-looking statements speak only as of their date, and readers are told not to put undue reliance on them. The company disclaims any duty to update them except as the law requires. It lists volatility in its securities, shifts in its business model and strategy, rivals' performance, and changes in law and regulation among the factors that could push results away from the statements. Investor contact is Kyle Sourk and media contact is Eleni Stylianou, with phone numbers and email addresses printed in the release.

With the notes closed, the Sandersville build has its construction capital, the earlier equity is set for reimbursement, and the debt-service reserves are funded.