CleanSpark, Inc. filed a Current Report on Form 8-K with the Securities and Exchange Commission on September 17, 2026, outlining a significant financial initiative and a strategic pivot in its business operations. The company announced that its wholly owned indirect subsidiary, CSDC Finance I, LLC, intends to offer $2.227 billion in aggregate principal amount of senior secured notes due in 2031. This private offering is targeted at qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
The filing includes an investor presentation titled "Sandersville Investor Presentation" dated September 2026, which details a strategic shift toward data center development and high-performance computing (HPC). The centerpiece of this strategy is the Sandersville project, a 175-megawatt (MW) critical IT AI data center campus located in Georgia. The facility is leased to Anviran, LLC, a wholly owned subsidiary of Meta, the parent company of Facebook, Instagram, WhatsApp, and Messenger.
According to the presentation, the Sandersville facility is positioned for an initial delivery in the fourth quarter of 2027. The project is backed by a base-term contract value of approximately $6.6 billion and is expected to generate net operating income (NOI) of roughly $330 million annually. The lease structure includes a 20-year base term with two five-year tenant extension options and a 12-month option, as well as a 3% annual rent escalator.
The company states that the project will serve as the guarantor of rent and operating expenses. CleanSpark projects a 100% NOI margin, with minimal operating expenses required. The presentation outlines an illustrative financial summary showing that rent revenue is scheduled to begin on November 30, 2027, following the completion of the first network hall. The debt for the project is projected to carry a 7.5% coupon, with interest payable semi-annually, and amortization is set to begin upon construction completion in March 2028.
In addition to the Sandersville campus, CleanSpark indicated that it has approximately 1.8 gigawatts (GW) of contracted power across a geographically diverse U.S. portfolio, with multiple campuses suitable for AI and HPC applications.
