Planned use of offering proceeds
Company: CleanSpark
The claim, verbatim
Proceeds will be used for approximately $460 million in share repurchases and remaining funds for power and land portfolio expansion, data center infrastructure development, bitcoin-backed line of credit repayment, and general corporate purposes
Source (primary)
cleanspark 8-K exhibit (clsk-ex99_1.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-26)Live source ↗
Quote: “The Company intends to use approximately $460 million to repurchase shares of its common stock from investors in the Convertible Notes, and the remaining net proceeds for the expansion of the Company's power and land portfolio, the development of data center infrastructure, the repayment of outstanding bitcoin-backed line of credit balances and general corporate purposes”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
The use-of-proceeds section lists each of these uses, including the roughly $460 million share repurchase.
Confirmed in the source:
- Approximately $460 million of proceeds will be used to repurchase common stock
- Remaining proceeds will go to expanding the power and land portfolio
- Remaining proceeds will go to developing data center infrastructure
- Remaining proceeds will go to repaying bitcoin-backed line of credit balances
- Remaining proceeds will go to general corporate purposes
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/827876/000119312525276014/clsk-ex99_1.htm) in full (9,343 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms cleanspark 8-K exhibit (clsk-ex99_1.htm)
Quote: “The Company intends to use approximately $460 million to repurchase shares of its common stock from investors in the Convertible Notes, and the remaining net proceeds for the expansion of the Company's power and land portfolio, the development of data center infrastructure, the repayment of outstanding bitcoin-backed line of credit balances and general corporate purposes”