CleanSpark Proposes $2.227B Senior Secured Notes to Fund Sandersville Build-Out

CleanSpark, through subsidiary CSDC Finance I, is offering $2.227 billion in senior secured notes due 2031. Proceeds will fund the completion of the Sandersville data center in Georgia, where a tenant will take 175 MW of IT load with deliveries from Q4 2027.

• Issue size is $2.227 billion, maturing in 2031
• 20-year lease: 175 MW, expected revenue $6.6 billion
• Cost per 1 MW of IT load estimated at $10–12 million
• CleanSpark has 1.8 GW capacity and 50 EH/s hash rate