← CleanSpark · FinancingEdit
7.875% senior secured notes due 2031 (CSDC Finance I, LLC)
Sep 25, 2026 · ClosedTerms of issuance
Instrument
Secured notes
Principal
$2.28B
Net proceeds
Coupon
7.875%
Issue date
Sep 25, 2026
Maturity
2031
Seniority
senior secured
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
256,817,073
Stock price / market cap (as of issue date)
$13.9 · $3.57 mkt cap
Use of proceeds
Sandersville data center (CSDC Finance I, LLC)
Other financing outstanding (excl. this instrument)
Underwritten public offering of common stock at $20.68/share ($188.0M), 0.00% Convertible Senior Notes due 2030 ($650.0M), Coinbase bitcoin-backed line of credit (upsized) ($300.0M), Two Prime bitcoin-backed revolving credit facility ($100.0M), 0.00% Convertible Senior Notes due 2032 ($1.15B)
— of which existing debt
$2.39B
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
none
Related site
none
Sources
ProposedCleanSpark proposes $2.227 billion Sandersville senior secured notes
Sep 17, 2026ClosedCleanSpark prices $2.276 billion of 7.875% senior secured notes due 2031 for Sandersville
Sep 25, 2026ClosedCleanSpark closes $2.276 billion Sandersville senior secured notes
Sep 25, 2026