CleanSpark Plans $2.227 Bln Senior Secured Notes Offering Due 2031

(RTTNews) - CleanSpark, Inc. (CLSK), a bitcoin mining company, on Thursday announced that its wholly owned subsidiary CSDC Finance I plans to offer $2.227 billion of senior secured notes due 2031. The offering is subject to market and other conditions. The notes will be fully guaranteed by CSRE Properties Sandersville and secured by first-priority liens on substantially all assets of the issuer and guarantor. The company plans to use the net proceeds to finance the remaining buildout of the Sandersville Facility, reimburse certain prior equity contributions and fund debt service reserves. The company said it will also provide a completion guarantee to support the timely completion of the Sandersville Facility if the note proceeds are insufficient.