CleanSpark Secures $1.15B to Bolster Bitcoin Mining Operations Amidst Challenging Market

CleanSpark Secures $1.15B to Bolster Bitcoin Mining Operations Amidst Challenging Market

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CleanSpark has successfully raised $1.15 billion through zero-coupon convertible notes. This significant capital injection is aimed at acquiring additional power and mining machines, enabling the company to navigate and survive what it describes as the most brutal mining environment to date. The private placement is due in 2032 with an initial conversion price at a premium to the current stock price.

CleanSpark just sold $1.15 billion of zero-coupon convertible notes to buy more power and machines in the most brutal mining environment yet. The deal is a 144A private placement due in 2032, with an initial conversion price of around $19.16, roughly a 27.5% premium to the $15.03 stock price at the time of announcement. Approximately […]