Allocation of note proceeds
Company: CleanSpark - Project: Sandersville
The claim, verbatim
Net proceeds will be used to finance remaining costs of Sandersville Facility buildout, reimburse prior equity contributions to the facility, and fund debt service reserves
Source (primary)
CleanSpark, Inc. Announces Proposed Offering of $2.227 Billion of Senior Secured Notes - PR Newswire (-, news_article)
View cached copy (2026-09-20)Live source ↗
Quote: “The Issuer intends to use the net proceeds from the offering (a) to finance the remaining cost of the build out of the data center (the "Sandersville Facility"), (b) to reimburse the Company for certain prior equity contributions made in respect of the Sandersville Facility, and (c) to fund debt service reserves.”
How we checked this
Checked on September 25, 2026. The cited source supports every part of this claim.
The release lists all three intended uses of the net proceeds exactly as the claim describes.
Confirmed in the source:
- Net proceeds will finance the remaining cost of building out the Sandersville Facility
- Net proceeds will reimburse CleanSpark for certain prior equity contributions made for the Sandersville Facility
- Net proceeds will fund debt service reserves
What we did: Read our cached copy of the publisher (https://www.prnewswire.com/news-releases/cleanspark-inc-announces-proposed-offering-of-2-227-billion-of-senior-secured-notes-302881360.html) in full (17,393 characters, retrieved September 20, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark, Inc. Announces Proposed Offering of $2.227 Billion of Senior Secured Notes - PR Newswire
Quote: “The Issuer intends to use the net proceeds from the offering (a) to finance the remaining cost of the build out of the data center (the "Sandersville Facility"), (b) to reimburse the Company for certain prior equity contributions made in respect of the Sandersville Facility, and (c) to fund debt service reserves.”