Proposed use of offering proceeds
Company: CleanSpark
The claim, verbatim
Company intends to use up to $400 million of net proceeds for share repurchases and remaining proceeds for power and land portfolio expansion, data center development, bitcoin-backed 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 up to $400 million of the net proceeds from the offering to repurchase shares of the Company's common stock (the "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 release lists the same intended uses of proceeds: up to $400 million for share repurchases, with the rest going to power and land expansion, data center development, repaying the bitcoin-backed credit line, and general corporate purposes.
Confirmed in the source:
- CleanSpark intends to use up to $400 million of net proceeds to repurchase shares of its common stock
- The remaining net proceeds are intended for expanding its power and land portfolio, developing data center infrastructure, repaying outstanding bitcoin-backed line of credit balances, and general corporate purposes
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/827876/000119312525274179/clsk-ex99_1.htm) in full (7,211 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 up to $400 million of the net proceeds from the offering to repurchase shares of the Company's common stock (the "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”