Bitcoin miner CleanSpark slides on planned $1 bln convertible bonds offering

CleanSpark

10/11/2025 21:39

** CleanSpark's CLSK.O shares down 4.7% to $14.33 in extended trading as it looks to raise capital

** Nevada-based CLSK announces private offering of $1 bln 0% convertible bonds (CBs) due 2032

** Co plans to use net offering proceeds to expand its power and land portfolio, develop data center infrastructure, repay outstanding bitcoin-backed line of credit balances, among other purposes

** It also intends to use up to $400 mln of proceeds to repurchase shares from CBs investors

** CLSK has ~$4.2 bln market cap

** CLSK shares on Mon finished down 3.5% at $15.03, up 63% YTD

** Of 13 analysts covering CLSK, recommendation breakdown is 11 "strong buy" or "buy", 2 "hold"; median PT is $25, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))