CleanSpark said on 25 September that its wholly owned subsidiary CSDC Finance I had closed a $2.276 billion offering of senior secured notes, after a $2.227 billion offering was proposed on 17 September.
Key points
- CleanSpark says the notes carry a 7.875% coupon and mature in 2031.
- MT Newswires reported a proposed $2.227 billion offering by the CleanSpark unit on 17 September.
- CleanSpark says the notes have not been registered under the Securities Act of 1933.
CSDC Finance I issues notes due 2031
The subsidiary issued the notes with a 7.875% coupon and a 2031 maturity, according to CleanSpark. The company is listed on Nasdaq as CLSK. Its Las Vegas announcement identifies CSDC Finance I as the issuer and CleanSpark as its wholly owning parent.
The completed offering is larger than the $2.227 billion proposal reported on 17 September by MT Newswires. CleanSpark’s closing announcement describes the $2.276 billion issue as its previously announced offering. The final principal amount, coupon and maturity are the terms CleanSpark gave when it announced the closing.
CleanSpark says the notes have not been registered under the Securities Act of 1933. Under the restriction stated in its announcement, they cannot be offered or sold in the United States without registration or an applicable exemption.
CleanSpark’s data centre portfolio and lease
CleanSpark describes itself as a data centre developer operating at the intersection of bitcoin, energy and computing infrastructure. It says it controls a US portfolio of more than 1.8 GW of power, land and data centres. That is the company’s description of the portfolio, rather than a measure of capacity attached to this notes offering.
CleanSpark secured a twenty-year lease for a data centre in Sandersville, Georgia, on 14 July, MarketScreener reported. MT Newswires reported a $6.6 billion value for a CleanSpark data centre lease on the same date. The lease places the financing alongside the company’s work to develop its data centre business.
In its 25 September announcement, CleanSpark identified changes in its industry, its evolving business model and its ability to carry out business plans among factors that could cause future results to differ from its expectations. The company directed investors to risk disclosures in its annual report for the fiscal year ended 30 September 2025 and quarterly reports through the quarter ended 30 June 2026.
