CleanSpark closes $2.276 billion secured-note financing for its AI campus
CleanSpark closed $2.276 billion of senior secured notes on September 25 following their September 18 pricing. The financing supported its Sandersville data-center development rather than a disclosed purchase of bitcoin.
On September 25, 2026, CleanSpark announced the closing of $2.276 billion in senior secured notes through subsidiary CSDC Finance I. The notes carried a 7.875% coupon and matured in 2031. Their September 18 pricing announcement preceded the completed financing.
The proceeds were tied to the Sandersville data-center development, making the transaction part of a Bitcoin miner’s expansion into AI infrastructure. Mining companies accumulate experience securing electrical capacity and building computing sites, but financing a new data-center campus is a different deployment of that capability from buying additional mining hardware or adding bitcoin to a treasury.
Pricing established the terms on which the notes would be sold; closing established that the financing transaction had completed. Neither stage by itself meant that the campus was finished or that its intended AI services were already operating. Keeping those stages separate also avoids turning a debt issuance into a completed infrastructure outcome.
The size, secured structure and project-specific purpose made the financing a substantial change in CleanSpark’s capital allocation. It placed a large, dated funding commitment behind the company’s AI development plans while leaving construction and operation as subsequent tasks.