CleanSpark Completes $1.15 Billion Convertible Notes Offering to Bolster Growth
Alvin Lang Nov 14, 2025 03:25
CleanSpark, Inc. has closed an upsized offering of $1.15 billion in zero-coupon convertible notes, aiming to enhance its power and data center infrastructure.
CleanSpark, Inc. (Nasdaq: CLSK), a prominent player in the Bitcoin mining industry, has successfully closed its upsized offering of zero-coupon convertible notes, raising $1.15 billion. This strategic financial move is expected to propel the company's growth in energy and data center infrastructure, according to CleanSpark's announcement.
Details of the Offering
The offering, which was initially announced earlier this year, involves the sale of convertible senior notes due in 2032. These notes were sold to initial purchasers for resale in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The net proceeds from the sale amounted to approximately $1.13 billion, after accounting for initial purchaser discounts and estimated expenses.
Strategic Use of Proceeds
CleanSpark has utilized around $460 million of the proceeds to repurchase 30.6 million shares of its common stock, representing about 10.9% of the shares outstanding. This move is indicative of the company's confidence in its business model and commitment to enhancing shareholder value. The remaining funds are earmarked for expanding CleanSpark's power and land portfolio, developing data center infrastructure, and repaying outstanding bitcoin-backed credit lines.
Leadership's Vision
Matt Schultz, CleanSpark’s Chairman and CEO, highlighted the significance of this offering as a transformative milestone. Schultz emphasized the role of institutional investors in supporting CleanSpark's growth as a leading energy and infrastructure computing platform. He noted that the capital raised would be instrumental in meeting the increasing demand for high-performance, AI-driven data center infrastructure.
Future Prospects
With this influx of capital, CleanSpark aims to optimize its infrastructure to deliver superior returns. The company, which boasts a portfolio exceeding 1.3 GW of power and data centers across the United States, is strategically positioned to capitalize on the evolving energy and technology landscape. By leveraging low-cost, reliable energy sources, CleanSpark is poised to advance its role in producing compute resources, a critical emerging asset in today's digital economy.
For more information, visit the official announcement on CleanSpark's website.
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