CleanSpark prices $2.276 billion of 7.875% senior secured notes due 2031

CleanSpark, Inc. (Nasdaq: CLSK) announced that its wholly owned subsidiary CSDC Finance I, LLC priced a $2.276 billion offering of 7.875% senior secured notes due 2031 at 98.5% of their principal amount. The private Rule 144A / Regulation S deal is expected to close on September 25, 2026, subject to customary closing conditions.

A priced private notes deal, not yet closed

CleanSpark, Inc. (Nasdaq: CLSK) said on September 18, 2026 that CSDC Finance I, LLC, a wholly owned subsidiary, priced $2.276 billion of 7.875% senior secured notes due 2031 at 98.5% of principal. The notes are being sold in a private offering to persons reasonably believed to be qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The company expects the offering to close on September 25, 2026, subject to customary closing conditions.

Where the proceeds are meant to go

Exhibit 99.1 says the issuer intends to use net proceeds (a) to finance the remaining cost of building out the Sandersville Facility data center, (b) to reimburse CleanSpark for certain prior equity contributions tied to that facility, and (c) to fund debt service reserves. CleanSpark also says it will give a customary completion guarantee so it will fund the issuer as needed to finish Sandersville on time if note proceeds are not enough.

Security package and guarantee

The notes will be fully and unconditionally guaranteed by CSRE Properties Sandersville, LLC, a wholly owned direct subsidiary of the issuer. The notes and guarantee will be secured by first-priority liens on substantially all assets of the issuer and CSRE Properties, other than certain excluded property, and on all equity interests of the issuer held by CSDC Holdings I, LLC, the issuer's direct parent. The notes have not been registered under the Securities Act, and the release states it is not an offer to sell.