Bitcoin mining company IREN announced plans to issue $450 million Convertible Bonds.

PANews reported on June 11 that, according to The Block, IREN, a NASDAQ-listed miner, announced that it intends to issue $450 million of convertible senior notes to qualified institutional investors through private placement, and reserves the right to add $50 million within 13 days. The Company plans to use a portion of the proceeds for cap option transactions to reduce equity dilution from convertible debt to equity swaps, and intends to enter into a $100 million prepaid forward share repurchase agreement. The remaining funds will be used for general corporate purposes and to replenish 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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