Nasdaq-listed company CleanSpark disclosed that its wholly-owned subsidiaries CSDC Finance I and LLC have completed the issuance of senior secured notes totaling $2.276 billion. This financing is one of the larger debt financings in the Bitcoin infrastructure sector this year, and the funds will be used to support the company's expansion in the mining and data center sectors.
The bill interest rate is 7.875%, with maturity in 2031.
The announcement indicates that the fixed interest rate for this batch of bonds is 7.875%, with a maturity date in 2031. The issuer is a financing subsidiary of CleanSpark. This structure is quite common in large-scale debt financing and is typically used to facilitate the bond issuance arrangements on behalf of the parent company.
In terms of timing, this financing provides the company with a source of medium-term funds, but it also means that in the coming years, the company will have to bear continuous interest expenses and the pressure of repayments upon maturity.
- Issuance scale: $2.276 billion
- Fixed interest rate: 7.875%
- Expiry date: 2031
Adopt an exemption registration approach for specific investors
The company stated that these securities were not registered in accordance with the Securities Act of 1933, and therefore cannot be publicly offered to ordinary investors in the United States unless the registration requirements are met or exemptive conditions apply. According to market practices in the United States, such unregistered securities are typically targeted at institutional investors or participants in the private market.
This arrangement means that the holding and circulation of related debt instruments will be restricted, with professional investment institutions being the main participants, rather than retail investors.
The company claims to control over 1.8 GW power and data center assets
CleanSpark also stated that the company currently controls over 1.8 GW of power, land, and data center assets in the United States, and positions itself as a data center developer. For Bitcoin mining companies, the ability to obtain power typically directly determines the speed of expansion and the level of costs.
Against the backdrop of continuously growing demands for mining and high-performance computing, stable power supply and site reserves help companies continue to expand their computational capacity deployment and enhance the carrying capacity of their data center operations.
Risk disclosure refers to the SEC periodic documents.
The company disclosed that regarding the details of this bond issuance, the use of funds, and future operational performance, these aspects have been accompanied by disclosures of risk factors in the 10-K and multiple 10-Q filings submitted to the U.S. Securities and Exchange Commission (SEC). The risks mentioned by the company include fluctuations in securities prices, changes in the regulatory environment, adjustments in the competitive landscape, and business performance falling short of expectations.
Additional information:CleanSpark mentioned in the announcement that its relevant risk disclosure documents include the 10-K annual report for the fiscal year ending September 30, 2025, as well as the quarterly 10-Q reports for the periods ending December 31, 2025, March 31, 2026, and June 30, 2026.
