CleanSpark's $1.15B Bond Offering: A Deep Dive
Update: 2025-11-11
Description
CleanSpark, a bitcoin mining and data center company, saw its stock drop by 5% after announcing a $1.15 billion convertible bond offering. This move is part of a larger trend among bitcoin miners and AI companies borrowing money for rapid growth. CleanSparks zero-percent Convertible Senior Notes, due in 2032, saw strong demand, with the company increasing the initial offering size. The funds will be used for share buybacks, expanding power and land holdings, building new data centers, and general company needs.
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