diff --git a/changelog/fragments/bundle-image-digests-csv-format.yaml b/changelog/fragments/bundle-image-digests-csv-format.yaml
new file mode 100644
index 00000000000..a0eb8f85c1d
--- /dev/null
+++ b/changelog/fragments/bundle-image-digests-csv-format.yaml
@@ -0,0 +1,8 @@
+entries:
+  - description: >
+      `generate bundle --use-image-digests` now writes the ClusterServiceVersion
+      with the same formatting as a bundle generated without it, so the two
+      differ only in their image references and `relatedImages`. Previously
+      every list in the CSV was re-indented.
+    kind: bugfix
+    breaking: false
diff --git a/internal/cmd/operator-sdk/generate/bundle/bundle.go b/internal/cmd/operator-sdk/generate/bundle/bundle.go
index 36e2ca54760..a7c261f179f 100644
--- a/internal/cmd/operator-sdk/generate/bundle/bundle.go
+++ b/internal/cmd/operator-sdk/generate/bundle/bundle.go
@@ -17,6 +17,7 @@ package bundle
 import (
 	"errors"
 	"fmt"
+	"io/fs"
 	"os"
 	"path/filepath"
 
@@ -327,5 +328,53 @@ func (c bundleCmd) pinImages(manifestPath string) error {
 		}
 	}
 
-	return nil
+	return formatCSVs(manifestPath)
+}
+
+// formatCSVs re-encodes the ClusterServiceVersions under dir with the same
+// YAML encoder used to write them. operator-manifest-tools rewrites a pinned
+// CSV with gopkg.in/yaml.v3, which indents sequences, so without this a bundle
+// generated with --use-image-digests differs from one without it on nearly
+// every list rather than only on the image references.
+func formatCSVs(dir string) error {
+	return filepath.WalkDir(dir, func(path string, d fs.DirEntry, err error) error {
+		if err != nil {
+			return err
+		}
+		if d.IsDir() {
+			return nil
+		}
+		if ext := filepath.Ext(path); ext != ".yaml" && ext != ".yml" {
+			return nil
+		}
+
+		b, err := os.ReadFile(path)
+		if err != nil {
+			return err
+		}
+		var meta struct {
+			Kind string `json:"kind"`
+		}
+		if err := yaml.Unmarshal(b, &meta); err != nil {
+			return fmt.Errorf("error reading %s: %v", path, err)
+		}
+		if meta.Kind != "ClusterServiceVersion" {
+			return nil
+		}
+
+		j, err := yaml.YAMLToJSON(b)
+		if err != nil {
+			return fmt.Errorf("error converting %s to JSON: %v", path, err)
+		}
+		out, err := yaml.JSONToYAML(j)
+		if err != nil {
+			return fmt.Errorf("error converting %s to YAML: %v", path, err)
+		}
+
+		info, err := d.Info()
+		if err != nil {
+			return err
+		}
+		return os.WriteFile(path, out, info.Mode().Perm())
+	})
 }
diff --git a/internal/cmd/operator-sdk/generate/bundle/bundle_suite_test.go b/internal/cmd/operator-sdk/generate/bundle/bundle_suite_test.go
new file mode 100644
index 00000000000..bc7c48eee4a
--- /dev/null
+++ b/internal/cmd/operator-sdk/generate/bundle/bundle_suite_test.go
@@ -0,0 +1,27 @@
+// Copyright 2026 The Operator-SDK Authors
+//
+// Licensed under the Apache License, Version 2.0 (the "License");
+// you may not use this file except in compliance with the License.
+// You may obtain a copy of the License at
+//
+//     http://www.apache.org/licenses/LICENSE-2.0
+//
+// Unless required by applicable law or agreed to in writing, software
+// distributed under the License is distributed on an "AS IS" BASIS,
+// WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+// See the License for the specific language governing permissions and
+// limitations under the License.
+
+package bundle
+
+import (
+	"testing"
+
+	. "github.com/onsi/ginkgo/v2"
+	. "github.com/onsi/gomega"
+)
+
+func TestBundle(t *testing.T) {
+	RegisterFailHandler(Fail)
+	RunSpecs(t, "Bundle Suite")
+}
diff --git a/internal/cmd/operator-sdk/generate/bundle/bundle_test.go b/internal/cmd/operator-sdk/generate/bundle/bundle_test.go
new file mode 100644
index 00000000000..9b33805adc3
--- /dev/null
+++ b/internal/cmd/operator-sdk/generate/bundle/bundle_test.go
@@ -0,0 +1,104 @@
+// Copyright 2026 The Operator-SDK Authors
+//
+// Licensed under the Apache License, Version 2.0 (the "License");
+// you may not use this file except in compliance with the License.
+// You may obtain a copy of the License at
+//
+//     http://www.apache.org/licenses/LICENSE-2.0
+//
+// Unless required by applicable law or agreed to in writing, software
+// distributed under the License is distributed on an "AS IS" BASIS,
+// WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+// See the License for the specific language governing permissions and
+// limitations under the License.
+
+package bundle
+
+import (
+	"os"
+	"path/filepath"
+
+	. "github.com/onsi/ginkgo/v2"
+	. "github.com/onsi/gomega"
+	"github.com/operator-framework/operator-manifest-tools/pkg/pullspec"
+	"k8s.io/apimachinery/pkg/apis/meta/v1/unstructured"
+	"sigs.k8s.io/yaml"
+)
+
+var _ = Describe("formatCSVs", func() {
+	var (
+		dir     string
+		csvObj  map[string]interface{}
+		csvPath string
+	)
+
+	BeforeEach(func() {
+		dir = GinkgoT().TempDir()
+		csvPath = filepath.Join(dir, "memcached-operator.clusterserviceversion.yaml")
+		csvObj = map[string]interface{}{
+			"apiVersion": "operators.coreos.com/v1alpha1",
+			"kind":       "ClusterServiceVersion",
+			"metadata": map[string]interface{}{
+				"name": "memcached-operator.v0.0.1",
+				// Strings a YAML 1.1 parser would read as another type if they
+				// were left unquoted, plus a timestamp like the one in createdAt.
+				"annotations": map[string]interface{}{
+					"bool-like":  "yes",
+					"on-like":    "on",
+					"octal-like": "0755",
+					"float-like": "1e3",
+					"null-like":  "null",
+					"empty":      "",
+					"createdAt":  "2026-09-23T00:00:00Z",
+				},
+			},
+			"spec": map[string]interface{}{
+				"description": "First line.\n\n## Heading\n\n- item: with colon\n",
+				"installModes": []interface{}{
+					map[string]interface{}{"supported": true, "type": "OwnNamespace"},
+				},
+				"relatedImages": []interface{}{
+					map[string]interface{}{"image": "busybox@sha256:73aaf090f3d85aa34ee199857f03fa3a95c8ede2ffd4cc2cdb5b94e566b11662", "name": "manager"},
+				},
+			},
+		}
+
+		// Write the CSV the way pinImages does, through operator-manifest-tools.
+		csv, err := pullspec.NewOperatorCSV(csvPath, &unstructured.Unstructured{Object: csvObj}, nil)
+		Expect(err).NotTo(HaveOccurred())
+		Expect(os.WriteFile(csvPath, nil, 0o644)).To(Succeed())
+		Expect(csv.Dump(nil)).To(Succeed())
+	})
+
+	It("re-encodes a CSV the same way an unpinned bundle writes it", func() {
+		want, err := yaml.Marshal(csvObj)
+		Expect(err).NotTo(HaveOccurred())
+
+		Expect(formatCSVs(dir)).To(Succeed())
+
+		got, err := os.ReadFile(csvPath)
+		Expect(err).NotTo(HaveOccurred())
+		Expect(string(got)).To(Equal(string(want)))
+	})
+
+	It("follows symlinked manifests that point outside the directory", func() {
+		shared := GinkgoT().TempDir()
+		target := filepath.Join(shared, "configmap.yaml")
+		Expect(os.WriteFile(target, []byte("apiVersion: v1\nkind: ConfigMap\nmetadata:\n  name: cm\n"), 0o644)).To(Succeed())
+		Expect(os.Symlink(target, filepath.Join(dir, "configmap.yaml"))).To(Succeed())
+
+		Expect(formatCSVs(dir)).To(Succeed())
+	})
+
+	It("leaves manifests that are not CSVs untouched", func() {
+		other := filepath.Join(dir, "service.yaml")
+		content := "apiVersion: v1\nkind: Service\nmetadata:\n  name: svc\nspec:\n  ports:\n    - port: 80\n"
+		Expect(os.WriteFile(other, []byte(content), 0o644)).To(Succeed())
+
+		Expect(formatCSVs(dir)).To(Succeed())
+
+		got, err := os.ReadFile(other)
+		Expect(err).NotTo(HaveOccurred())
+		Expect(string(got)).To(Equal(content))
+	})
+})