PANews reported on June 11 that, according to The Block, Nasdaq-listed mining company IREN announced plans to issue $450 million convertible preferred notes through a private placement to qualified institutional investors, with the right to add an additional $50 million within 13 days. The company plans to use part of the raised funds for cap option trading to reduce stock dilution from convertible debt conversion, and intends to sign a $100 million prepaid forward stock repurchase agreement. The remaining funds will be used for general corporate purposes and working capital. It is understood that IREN operates data centers with a total installed capacity of 2,910 MW in the United States and Canada, covering three major areas: Bitcoin mining, AI cloud services, and AI data centers.
Bitcoin mining company IREN announces plans to issue $450 million in convertible bonds
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