CleanSpark shares rose 4.73% to close near $13.40 on Thursday following an announcement that its subsidiary CSDC Finance I LLC intends to sell $2.227 billion of senior secured notes due in 2031. The private placement would fund completion of the Sandersville data center in Georgia, reimburse prior equity investments and establish debt-service reserve accounts. The notes would carry a first-priority lien on most issuer assets and collateral from CSRE Properties Sandersville LLC, a second subsidiary tied to the project. Unlike convertible instruments, the debt would not convert into CleanSpark stock, avoiding immediate share dilution. The company has not disclosed interest rates, pricing or a definitive closing date, and completion remains subject to market conditions and customary requirements. If the raised capital proves insufficient, CleanSpark would provide a completion guarantee to supply additional funds. The financing structure places repayment and interest obligations on CSDC Finance I while pledged assets could become available to creditors in default. CleanSpark also reported mining 593 Bitcoin in August, bringing its total holdings to 13,703 BTC by month-end. The company’s treasury held 13,931 BTC at the end of July, reflecting a net decline despite new production. August output contributed to 4,903 BTC produced through the end of the month, with an average daily yield of 18.91 BTC. CleanSpark’s July quarter showed $198.6 million in revenue and a net loss of $236.2 million, largely attributed to fluctuations in Bitcoin’s fair value. The proposed debt offering follows a July agreement for a 20-year infrastructure lease covering 175 megawatts of compute capacity at Sandersville, which could generate up to $11.6 billion in contracted revenue over initial and optional extension periods. The tenant remains unidentified, though reports linking the site to Meta have not been confirmed by CleanSpark. The company acquired the Sandersville facility from Mawson Infrastructure Group in October 2022, inheriting nearly 6,500 mining machines and approximately 560 petahashes per second of computing power. While the site was originally designed for Bitcoin mining, CleanSpark has positioned it as a hub for artificial intelligence infrastructure, leveraging existing power connections to accelerate development. The new financing reflects ongoing efforts to scale operations beyond cryptocurrency mining, though execution depends on finalizing terms of the private placement and fulfilling the parent company’s guarantee commitment.