CleanSpark is seeking $2.227 billion for Sandersville. On September 17, 2026, the data center developer announced plans for a private offering of senior secured notes due 2031, with proceeds aimed at completing its Sandersville, Georgia, data center.
The financing would cover the remaining cost of building out the Sandersville Facility, reimburse CleanSpark for prior equity contributions, and fund debt service reserves. That gives the offering a broader job than simply paying construction bills—corporate financing rarely arrives with only one chore.
A secured offering with strict limits
CleanSpark intends to offer $2.227 billion in aggregate principal amount. The notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States relying on Regulation S.
The notes have not been registered under the Securities Act or the securities laws of any other jurisdiction. The offering remains subject to market and other conditions, and CleanSpark said there can be no assurance about whether, when, or on what terms it may be completed.
The notes will be fully and unconditionally guaranteed by CSRE Properties Sandersville, LLC. The notes and guarantee will carry first-priority liens on substantially all assets of the issuer and CSRE Properties, except for certain excluded property, as well as on all equity interests of the issuer held by CSDC Holdings I, LLC.
CleanSpark will also provide a customary completion guarantee for the Sandersville Facility. If the offering proceeds do not cover the required costs, CleanSpark will fund the issuer as necessary to ensure timely completion.
Sandersville has a long-term anchor
The build-out is anchored by a 20-year infrastructure lease announced on July 14, 2026, with a confidential high-investment-grade global technology company. The lease covers 175 MW of critical IT load, with infrastructure deliveries expected to begin in the fourth quarter of 2027.
That lease gives the financing a defined project behind it, including a stated power requirement and a delivery schedule. It also explains why CleanSpark is seeking a secured structure tied to the facility and its assets rather than treating the build-out as an ordinary corporate expense.
CleanSpark’s broader platform includes more than 1.8 GW of power, land, and data centers across the United States. Sandersville now sits inside that larger footprint as a project with a 20-year infrastructure commitment and a financing plan built around completion.
Matt Schultz, chief executive and chairman of CleanSpark, described the offering as “a transformational moment for CleanSpark.” The phrase is polished executive language, but the numbers do provide substance: $2.227 billion in proposed notes, 175 MW of critical IT load, and deliveries expected to start in the fourth quarter of 2027.
The immediate question is not whether Sandersville has a customer anchor. It is whether the private offering clears its market conditions, reaches completion on acceptable terms, and supplies enough capital for the remaining build-out, reserves, and reimbursement obligations.
