Use of proceeds from notes offering
Company: CleanSpark - Project: Sandersville
The claim, verbatim
Net proceeds will finance the remaining Sandersville Facility build-out, reimburse prior equity contributions, and fund debt service reserves
Source (primary)
CleanSpark, Inc. Announces Pricing of $2.276 Billion of Senior Secured Notes - The Conway Daily Sun (-, news_article)
View cached copy (2026-09-21)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 26, 2026. The cited source supports every part of this claim.
The release lists all three uses of proceeds. That section of the cached page is character-encoded, but it decodes directly to this text.
Confirmed in the source:
- Net proceeds are intended to finance the remaining cost of building out the Sandersville Facility data center
- Net proceeds are intended to reimburse the company for certain prior equity contributions made for the Sandersville Facility
- Net proceeds are intended to fund debt service reserves
What we did: Read our cached copy of the publisher (https://www.conwaydailysun.com/online_features/press_releases/cleanspark-inc-announces-pricing-of-2-276-billion-of-senior-secured-notes/article_77b53fe9-b698-580f-8e1f-5e42f6a5c4fc.html) in full (37,881 characters, retrieved September 21, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark, Inc. Announces Pricing of $2.276 Billion of Senior Secured Notes - The Conway Daily Sun
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”