CleanSpark Prices $2.276 Billion Senior Secured Notes to Fund Sandersville Data Center Buildout

CleanSpark, Inc. (Nasdaq: CLSK), a market-leading data center developer, announced that its wholly owned subsidiary, CSDC Finance I, LLC, has priced a $2.276 billion offering of 7.875% senior secured notes due 2031 at 98.500% of their principal amount. The offering is expected to close on September 25, 2026, subject to customary closing conditions.

The transaction represents one of the largest debt financings in the data center sector this year and underscores the intensifying capital requirements facing developers as they race to expand infrastructure capacity. The issuance will be sold in a private offering to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.

The issuer intends to use the net proceeds to finance the remaining cost of building out the Sandersville Facility, to reimburse CleanSpark for certain prior equity contributions made in respect of the facility, and to fund debt service reserves. The notes will be fully and unconditionally guaranteed by CSRE Properties Sandersville, LLC, a wholly owned direct subsidiary of the issuer. The notes and related guarantee will be 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 for the Sandersville Facility, committing to fund the issuer as necessary to ensure timely completion should the note proceeds prove insufficient. The company controls a portfolio of more than 1.8 GW of power, land, and data centers across the United States, positioning itself at the intersection of Bitcoin, energy, operational excellence, and capital stewardship.

The offering is subject to market and other conditions, and there can be no assurance as to whether, when, or on what terms the offering may be completed. The notes have not been registered under the Securities Act or any other jurisdiction's securities laws and may not be offered or sold in the United States absent registration or an applicable exemption.

The successful pricing of this sizable debt offering signals continued investor appetite for data center infrastructure assets backed by secured collateral structures, even as broader macroeconomic uncertainty persists. For CleanSpark, the financing provides a clear pathway to complete the Sandersville Facility while preserving equity capital for other strategic initiatives across its growing portfolio.