CleanSpark prices $2.276 billion senior secured notes for Sandersville

CleanSpark said its wholly owned subsidiary CSDC Finance I priced $2.276 billion of 7.875% senior secured notes due 2031 at 98.500% of principal, upsized from the $2.227 billion offering proposed on September 17. The notes are being sold in a private Rule 144A / Regulation S placement. Closing is expected on September 25, 2026, subject to customary conditions. Intended uses: finish the remaining build-out of the Sandersville data center facility, reimburse CleanSpark for certain prior equity contributions to that project, and fund debt-service reserves. The notes are guaranteed by CSRE Properties Sandersville with first-priority liens on substantially all issuer and guarantor assets (subject to exclusions), plus a customary completion guarantee from CleanSpark. A Form 8-K with the September 18 press release was filed the same day.

Why it matters

A multi-billion-dollar project-finance style notes pricing is a concrete funding path for a named campus build; funds still depend on the September 25 close.

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