CleanSpark Closes $2.28 Billion Notes Offering, Mined 529 Bitcoin in September
Key Summary
CleanSpark, a data center developer, closed a $2.276 billion senior secured notes offering and reported mining 529 bitcoin in September, according to its monthly operational update. The company plans to use the proceeds to fund data center construction and reported an average of 17.64 bitcoin per day in September. CleanSpark's operational hashrate reached 50 EH/s, and its Bitcoin holdings totaled 13,530 at the end of the month.
CleanSpark Raises $2.28 Billion, Mines 529 Bitcoin in September
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Company Updates
CleanSpark closed a $2.276 billion offering of senior secured notes through a wholly owned subsidiary, CSDC Finance I, which issued the 7.875% notes due in 2031. The company plans to use the proceeds to fund data center construction under a lease it expects to generate roughly $6.6 billion in contracted revenue over its initial term.
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Operational Performance
CleanSpark reported mining 529 bitcoin in September, with an average of 17.64 bitcoin per day and a peak single-day output of 18.99. Its operational hashrate reached 50 EH/s, while the average operating hashrate for the month was 36.0 EH/s.
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Bitcoin Holdings
The company's Bitcoin holdings totaled 13,530 at the end of the month, down from 13,703 at the end of August. CleanSpark sold 2 bitcoin at spot prices and 700 through call exercises at an average of $72,928 per coin.
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Power Usage and Efficiency
CleanSpark held 1.8 gigawatts of power under contract and used 808 megawatts of it. The company reported a peak efficiency of 16.07 joules per terahash.
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Future Reporting
CleanSpark will stop publishing monthly operational updates and move to standard quarterly reporting.