On September 18, 2026, CleanSpark, Inc. announced that its wholly owned subsidiary, CSDC Finance I, LLC, has priced an offering of $2.276 billion aggregate principal amount of 7.875% senior secured notes due 2031. The notes were priced at 98.500% of their principal amount.
The offering is expected to close on September 25, 2026, subject to customary closing conditions. The notes will be sold in a private placement to qualified institutional buyers under Rule 144A of the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S.
The net proceeds from the offering are intended to be used for three specific purposes: (1) financing the remaining cost of the build-out of the data center known as the Sandersville Facility, (2) reimbursing the Company for certain prior equity contributions made in respect of the Sandersville Facility, and (3) funding debt service reserves.
The notes are fully and unconditionally guaranteed by CSRE Properties Sandersville, LLC, a wholly owned direct subsidiary of the Issuer. The notes and the guarantee are secured by first-priority liens on substantially all assets of the Issuer and CSRE Properties, as well as all equity interests of the Issuer held by CSDC Holdings I, LLC.
CleanSpark will provide a customary completion guarantee with respect to the Sandersville Facility. This guarantee requires CleanSpark to fund the Issuer as necessary to ensure the timely completion of the facility in the event that the proceeds from the notes are insufficient to do so.
