# Public Bitcoin Miner CleanSpark Plans $1B Raise

*Author: Bankless*
*Published: Nov 11, 2025*
*Source: https://www.bankless.com/read/news/bitcoincleanspark-seeks-1b-in-convertible-notes-for-expansion-and-buybacks*

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Bitcoin mining firm CleanSpark [announced](https://www.prnewswire.com/news-releases/cleanspark-inc-announces-proposed-private-offering-of-1-billion-of-convertible-notes-302610532.html) plans to raise $1 billion through a private offering of convertible note, signaling an aggressive expansion push as it broadens into AI infrastructure.

## What’s the Scoop?
- **$1B offering:** CleanSpark’s convertible bonds will mature in February 2032, with an option for initial purchasers to buy an extra $200 million.
- **Strategic use of funds:** Up to $400 million will go toward share buybacks, with the remainder allocated to power and land expansion, data center development, repayment of bitcoin-backed credit lines, and general purposes.
- **Broader context:** CleanSpark’s move follows similar billion-dollar convertible offerings from TeraWulf and Galaxy Digital, as crypto firms increasingly tap debt markets for growth capital.