CleanSpark Closes $2.276B Senior Secured Notes Offering for Sandersville Data Center
CLSK sits 74% above its 52-week low of $8.
Summary
CleanSpark closed its $2.276 billion senior secured notes offering, executing the indenture and securing long-term financing for the Sandersville data center. The deal includes a parent completion guarantee and a $327 million debt service reserve.
Key Events · Financing and Capital Events · CLSK
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Notes Offering Closed
CSDC Finance I, LLC issued $2.276 billion of 7.875% senior secured notes due 2031 at 98.5% of par on September 25, 2026.
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Proceeds Allocation
Net proceeds fund remaining Sandersville Facility construction, reimburse CleanSpark's prior equity contributions, and establish a $327 million debt service reserve.
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Parent Completion Guarantee
CleanSpark provided a customary completion guarantee, obligating it to fund the Issuer if proceeds and available funds are insufficient to complete the Sandersville Facility.
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Debt Service Mechanics
Principal amortizes semi-annually after the Final Commencement Date to achieve a 1.275x Target Project Debt Service Coverage Ratio; interest payments begin April 1, 2027.
Analysis · CLSK · Crypto Assets
The $2.276 billion senior secured notes offering closed on September 25, 2026, with subsidiary CSDC Finance I, LLC executing the indenture with U.S. Bank Trust Company. The notes carry a 7.875% coupon, mature October 1, 2031, and were issued at 98.5% of par. Proceeds fund the remaining Sandersville Facility construction, reimburse prior equity contributions, and establish a $327 million debt service reserve. A completion guarantee from CleanSpark obligates the parent to fund any shortfall if the data center build exceeds available proceeds — a meaningful contingent liability. This closes the financing loop on the $6.6 billion Meta-backed lease announced in July, converting the project from equity-funded to debt-funded and locking in long-term capital at a fixed rate.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1605 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.53%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CLSK was trading at $13.92 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $8.00 to $23.61. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.