CleanSpark Upsizes & Prices $1.15 Billion Convertible Notes Offering

CleanSpark, Inc. (NASDAQ: CLSK), a U.S.-based bitcoin mining and data‑center company, announced today that it is offering $1.15 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2032. Key highlights: The notes carry no regular interest and will convert into shares (or cash/combination) at a rate of 52.1832 shares per $1,000 principal amount — approximately $19.16/share, representing a roughly 27.50% premium over the company’s Nov 10, 2025 closing share price of $15.03. The company has granted initial purchasers a 13‑day option to purchase up to an additional $150 million of notes, potentially raising the offering to ~$1.28 billion. Net proceeds are expected to be approximately $1.13 billion (or $1.28 billion if the option is exercised in full), after fees and expenses. Of the net proceeds, ~$460 million will be used to repurchase common stock from certain investors in the convertible notes at $15.03 per share. The remaining funds will go toward expanding its power/land/data‑center portfolio, repaying outstanding bitcoin‑backed credit lines, and general corporate purposes. The notes mature February 15, 2032, and prior to August 15, 2031 conversion is subject to certain conditions and during specified periods; thereafter conversion is open until the second business day before maturity. This move underscores CleanSpark’s dual strategy: capitalising on favourable financing terms (zero interest, high conversion premium) while aggressively deploying growth capital into its energy/compute infrastructure and improving its balance‑sheet flexibility via share repurchases. #CleanSpark #ConvertibleNotes #BitcoinMining #CorporateFinance #SlimScan #GrowthStocks #CANSLIM