{"id":15677,"date":"2025-11-11T07:51:05","date_gmt":"2025-11-11T07:51:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-miner-cleanspark-eyes-1-billion-raise-for-ai-push-and-share-buyback\/"},"modified":"2025-11-11T07:51:14","modified_gmt":"2025-11-11T07:51:14","slug":"bitcoin-miner-cleanspark-eyes-1-billion-raise-for-ai-push-and-share-buyback","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-miner-cleanspark-eyes-1-billion-raise-for-ai-push-and-share-buyback\/","title":{"rendered":"Bitcoin miner CleanSpark eyes $1 billion raise for AI push and share buyback"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin miner CleanSpark has proposed raising $1 billion through a convertible bond offering to fund a share buyback and support its AI expansion efforts.<\/p>\n<div id=\"cn-block-summary-block_551d45df75c069602b095b93aae71575\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>CleanSpark plans to raise $1.15 billion through convertible notes to fund a share buyback and expand its AI and data center operations.<\/li>\n<li>The company\u2019s shares have fallen to $15.03 on Nov. 10, extending a monthly decline of 25%.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>CleanSpark wants to issue $1.15 billion in zero-coupon convertible notes and use the capital to strengthen its balance sheet and accelerate growth, according to a Nov. 10 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/cleanspark-inc-announces-proposed-private-offering-of-1-billion-of-convertible-notes-302610532.html\" target=\"_blank\" rel=\"nofollow\">announcement<\/a>.<\/p>\n<p>According to the Las Vegas-based firm, the notes are due in February 2032 and will not bear regular interest. Purchasers will be able to convert them into shares of the common stock, or a combination of cash and shares, at CleanSpark\u2019s discretion.<\/p>\n<p>Initial purchasers will also have the option to buy an additional $200 million in convertible notes within a 13-day window from the date of issuance, subject to market conditions and other factors.<\/p>\n<p>The company intends to use $400 million from the proceeds to execute a share buyback, and the remaining funds will be channeled towards power and land expansion, data center development, and to repay its bitcoin-backed credit lines.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h1 class=\"wp-block-heading\">CleanSpark expands into AI<\/h1>\n<p>CleanSpark forayed into the AI sector last month with the launch of its new division led by industry veteran Jeffrey Thomas, and acquired a 271-acre site in Texas that would house a 285 megawatt power load to develop a dedicated AI data center campus. Around the same time, the company partnered with Submer to explore liquid-cooled and prefabricated infrastructure solutions for high-performance computing.<\/p>\n<p>To fund its AI ambitions, CleanSpark is using proceeds generated from its Bitcoin mining operations, which recently hit a record hashrate of 50 exahashes per second. Last month, the company\u2019s total Bitcoin holdings hit an all-time high of 13,011.<\/p>\n<p>Subsequently, it sold 589 BTC in October and used the capital to acquire the land and secure power agreements for its Texas data center.<\/p>\n<p>CleanSpark has also expanded a $200 million bitcoin-backed credit facility it had secured earlier this year through Coinbase Prime, later adding another $200 million in capacity through agreements with Coinbase and Two Prime.<\/p>\n<p>Recent efforts followed a strong third-quarter performance, which the company has <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/cleanspark-reports-third-quarter-fiscal-2025-results-302524771.html\" target=\"_blank\" rel=\"nofollow\">labelled<\/a> as the \u201cmost successful quarter in CleanSpark\u2019s history,\u201d with its quarterly revenue rising 91% year over year to $198.6 million.<\/p>\n<p>Despite its AI expansion and a strong fiscal showing, the company\u2019s shares have struggled over the past month due to Bitcoin\u2019s volatility during the period.\u00a0<\/p>\n<p>CleanSpark closed the day at $15.03 on Nov. 10, down 3.47% from the previous close, with after-hours trading extending the slide to $14.36. The stock has fallen 25% over the past month, retreating from highs above $22 seen in mid-October.\u00a0<\/p>\n<p>The share buyback, however, may help mitigate further losses.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin miner CleanSpark has proposed raising $1 billion through a convertible bond offering to fund a share buyback and support its AI expansion efforts. Summary CleanSpark plans to raise $1.15&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=15677"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15677\/revisions"}],"predecessor-version":[{"id":15679,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15677\/revisions\/15679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/15678"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=15677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=15677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=15677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}