Bitcoin mining company IREN announced the issuance of $875 million in convertible senior notes

ChainCatcher news, according to market news, Nasdaq-listed Bitcoin mining company IREN announced that it has priced a total of $875 million in convertible preferred notes with a 0% interest rate, maturing in 2031.

IREN also granted the initial purchasers of the notes an option to purchase up to an additional $125 million in principal amount of the notes within 13 days from the date of the initial issuance. IREN estimates that, after deducting the initial purchasers' discount commissions and expected issuance costs, the net proceeds from this offering will be approximately $856.5 million (if the initial purchasers fully exercise the additional note purchase option, the net proceeds will be approximately $979 million). IREN plans to use approximately $49.6 million of the net proceeds to pay for the costs of capped call option transactions, and the remaining net proceeds will be used for general corporate purposes and working capital.