CleanSpark’s $1.1 Billion Raise Targets Expansion as Mining Profitability Shrinks
BeInCrypto
CleanSpark is raising $1.15 billion via convertible senior notes to expand mining operations amid shrinking profitability.Summary
Bitcoin mining company CleanSpark announced a $1.15 billion offering of convertible senior notes sold in a private placement to institutional buyers. The funds are earmarked for expanding infrastructure, strengthening mining operations, and repurchasing common stock from participating investors. This capital raise occurs as Bitcoin mining profitability shrinks due to record-high network difficulty and declining hashprice revenue, which fell to around $41 in early November 2025. CleanSpark's own mining output has recently slowed, producing 612 Bitcoins in October, down from 706 in March. The notes will mature in 2032 and will not bear interest, converting at a price of approximately $19.16 per share.
(Source：BeInCrypto)