CleanSpark raises 550 million USD: CleanSpark aims to raise 550 million USD via a private convertible note. The offering will close by December 17, with expected net proceeds around 535.9 million USD, highlighting a strong position in the crypto market.
No regular interest on notes: Remarkably, CleanSpark will not pay regular interest on the notes, which mature on June 15, 2030. This approach aligns with the company’s strategic focus on managing financial obligations without increasing BTC holdings.
Using funds for corporate purposes: The raised capital will primarily be directed toward repaying debts to Coinbase and covering general corporate expenditures, not for acquiring more BTC. CleanSpark holds 9,297 BTC, distinguishing its strategy from rivals in the industry.