CleanSpark Secures $1.15 Billion to Fuel AI Expansion, Reposition as Infrastructure Provider

Nasdaq-listed Bitcoin mining company CleanSpark announced a $1.15 billion convertible note offering to fund expansion projects and the development of its data center infrastructure. The notes, due in 2032, offer investors a conversion option to purchase up to an additional $150 million during a greenshoe period. CleanSpark plans to allocate around $460 million towards repurchasing common stock and dedicating the remaining funds to strengthening its power grid capacity, acquiring new land, and building AI-focused data centers while paying down debt lines.