CleanSpark reports September Bitcoin production and secures $2.276 billion in financing

CleanSpark reported its Bitcoin production and holdings for September, revealing a net decrease in its treasury. The company produced 529 BTC during the month but sold 702 BTC, which included 700 BTC through call-option exercises at an average price of $72,928 per Bitcoin. Consequently, total holdings fell from 13,703 BTC at the end of August to 13,530 BTC by September 30.

On the operational side, the company’s mining fleet totaled 199,745 miners with an operational hashrate of 50 exahashes per second. CleanSpark also announced that its subsidiary, CSDC Finance I, LLC, completed a private offering of $2.276 billion in senior secured notes due 2031.

The proceeds from this debt financing are intended to fund the completion of a data-center expansion in Sandersville, Georgia. CEO Matt Schultz stated that with this non-dilutive bond financing, the Sandersville project is fully funded through completion. The facility is part of a long-term lease agreement that the company expects could generate approximately $6.6 billion in contracted revenue.