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NEW: Cleanspark is raising $500 million via 10-year convertible senior notes. However, the company will not buy Bitcoin with this capital; rather, it will go towards repurchasing shares from investors, settling its line of credit with Coinbase, and into corporate expenditures and… https://t.co/CTizqnO6W4
Cleanspark Raises $550M - But Skips the BTC Playbook Cleanspark is raising $550M through convertible senior notes with zero interest and a 2030 maturity. Investors are getting a 100% premium on the company’s stock price - but none of this capital is going into Bitcoin.… https://t.co/BpHRSAk7VZ
Cleanspark Sees $550M Raise, Skipping Bitcoin Investment Cleanspark, the mining giant, is pulling a slick $550M through convertible senior notes - zero interest, 10-year maturity, locked in for big-league investors. But here’s the kicker: no plans to grab Bitcoin. Instead, the… https://t.co/M11qYKEBnX
CleanSpark, a prominent cryptocurrency mining company, has announced a $550 million offering of convertible senior notes. The offering features zero interest and a 10-year maturity, with plans to utilize the funds primarily for debt repayment, capital expenditures, and acquisitions, rather than investing in Bitcoin. The company aims to strengthen its financial position by settling its line of credit with Coinbase and repurchasing shares from investors. This strategic move reflects CleanSpark's shift away from traditional Bitcoin investment strategies, focusing instead on enhancing its operational capabilities.
