Bitcoin mining company IREN announces plans to issue $450 million convertible bonds

PANews reported on June 11 that according to The Block, Nasdaq listed mining company IREN announced that it plans to issue US$450 million convertible priority notes to qualified institutional investors through private placement, and reserves the right to add an additional US$50 million quota within 13 days. The company plans to use part of the raised funds for ceiling option trading to reduce the equity dilution caused by convertible bonds, and plans to sign a prepaid forward stock repurchase agreement worth US$100 million. The remaining funds will be used for general corporate purposes and supplementary working capital. It is reported that IREN operates data centers with a total installed capacity of 2,910 megawatts in the United States and Canada, and its business covers three major areas: Bitcoin mining, AI cloud services and AI data centers.

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