According to CoinMeta, on September 25th, CleanSpark disclosed that its wholly-owned indirect subsidiaries CSDC Finance I and LLC had completed a private placement of senior secured notes totaling $2.276 billion with a coupon rate of 7.875% and maturing in 2031. The issue price was 98.5% of the principal amount. The company stated that the net proceeds will be used to cover the remaining construction costs of the data center facilities in Sandersville in Georgia, to compensate for previous related equity contributions, and to set aside a reserve for debt repayment. These notes were issued to qualified institutional buyers under Rule 144A in Rule as well as to non-U.S. investors under Regulation S.