CleanSpark prices $2.28 billion senior secured notes offering

CleanSpark, Inc. announced that its subsidiary CSDC Finance I, LLC has priced a $2.276 billion issuance of 7.875% senior secured notes due in 2031 at 98.5% of face value. The offering will be limited to qualified institutional buyers and non-U.S. persons under Rule 144A and Regulation S. The notes are secured by liens on the issuer's assets and equity held by CSDC Holdings I, LLC.

CleanSpark will provide a completion guarantee to ensure timely completion of the Sandersville Facility data center. The proceeds will finance remaining construction costs, reimburse prior equity contributions, and fund debt service reserves.