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CleanSpark will raise $1 billion through a convertible bond issuance to expand its operations.

2025.11.11 12:16:22

November 11th, Dak Listing - The Bitcoin mining company CleanSpark announced that it is aiming to raise $1 billion through a private placement of convertible preferred notes in order to expand its business. The company intends to issue zero-coupon convertible bonds that are due in 2032. The initial purchasers have the option to purchase an additional $200 million. CleanSpark plans to use up to $400 million of the proceeds to repurchase its own shares. The remaining funds will be allocated towards expanding its power and land portfolio, developing data center infrastructure, repaying Bitcoin-backed credit lines, and for general corporate purposes. These zero-coupon convertible bonds will mature on February 15, 2032. The company has the discretion to convert them into cash, stock, or a combination of both. CleanSpark stated that these bonds are senior unsecured debt and do not pay regular interest.
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